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05/06/2020 03:41pm

Madurai MSME urges govt to waive off registration fee on ECLGS

image Madurai MSME urges govt to waive off registration fee on ECLGS

Madurai, Jun 5 (KNN) The Madurai District Tiny and Small-Scale Industries Association (Maditissia) has urged the government to waive off document registration fee on the Emergency Credit Line Guarantee Scheme (ECLGS)

''The central government had announced that ECLGS could be obtained based on the loans already obtained by the industries,'' said president of Maditssia, B Muruganantham in a statement.  

Muruganantham said that this new loan would be an additional 20% of the collateral based loans already obtained by them.

''To obtain the loans based on the already pledged collateral, industrialists are forced to go to the registration offices and register the already pledged document, for a fee not less than Rs 30,000,'' he added.

This is a time consuming and cumbersome procedure.

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