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Industrial Health Clinic kicks off
Telangana Industries and IT Minister KT Rama Rao on Monday launched Telangana Industrial Health Clinic Ltd (TIHCL), an NBFC initiative of the state government. With an initial corpus fund of Rs 100 crore, TIHCL aims at reviving sick units.
Hyderabad: Telangana Industries and IT Minister KT Rama Rao on Monday launched Telangana Industrial Health Clinic Ltd (TIHCL), an NBFC initiative of the state government. With an initial corpus fund of Rs 100 crore, TIHCL aims at reviving sick units.
The industrial health clinic gets financial aid from the Centre, state government, financial institutions, high networth individuals (HNIs) and industry, and will take care of credit requirements of micro manufacturing units.
“As part of our two new policy inititatives, we have launched TIHCL. The first initiative was Research Innovation Centre, which was already unveiled last month. Several new projects are in progress and will launch them this year and next year,” said KTR after launching Telangana Industrial Health Clinic Ltd (TIHCL) here on Monday.
Energy minister Jagadeeshwar Reddy, IT Secretary Jayesh Ranjan, FTAPCCI president Ravindra Modi, CII-Telangana chapter president V Rajanna, Telangana Industrialists’ Federation (TIF) president K Sudhir Reddy, Aleap president K Rama Devi, Dr B Yerram Raju, adviser to TIHCL, other representatives from the industry and other officials participated in the event.
Dr Yerram Raju said that TIHCL would work for ensuring zero NPA in manufacturing sector. It will offer services on an average to 5-10 enterprises every month per district. “TSIDC has provided 10 percent seeding to TIHCL. We’re awaiting approval on NBFC from RBI and will start functioning as soon as we receive it,” said Dr Raju.
By Business Bureau
