Monday, November 27, 2017

// // Leave a Comment

State Finance Corporation (SFC) India

STATE FINANCE CORPORATION (SFC)

Origin Of The State Finance Corporation:

Central government decided to promote the Small Scale Industries and Medium Scale Industries at the state level by establishment of State Finance Corporation under a special Act. It is called as State Finance Corporation Act 1951. According to this act, state government have been empowered to set up State Finance Corporation. At present these are 18 State Finance Corporation in India.

finance
[Post Image Courtesy of Stuart Miles at FreeDigitalPhotos.net]

Capital Of State Finance Corporation

State Finance Corporations will have a paid up capital from Rs. 50 lakhs to Rs. 5 crore which will be contributed by the respective state government, Schedule Commercial Bank, Reserved Bank of India and various financial institutions.

Objectives Of State Finance Corporation

• To provides financial assistance to Small scale industries

• To promote tiny, village and cottage Industries

• To provides infrastructure facilities to SSI

Functions Of State Finance Corporation

• Long term loans to Small Scale Industries.

• Refinance from Reserve Bank of India and Industrial Development Bank of India

• Assistance from International Development Agency (IDA) and foreign currency hire of credit from the IDBI

Management Of State Finance Corporation

State Finance Corporation are managed by Board of directors constituted by the respective State Government, Central Government, Reserve Bank of India, Schedule Commercial Bank and Financial Institutions as nominated directors to the State Finance Corporation.

0 comments:

Post a Comment

Do you have any reasonable comments for this post ? Please feel free to drop them below using the comment box. We will moderate and publish them as soon as possible. Cheers !

Google+ Badge

Copyright (c) 2015-2017, The BusinessParrot. All Rights Reserved. Powered by Blogger.

Recent Comments

Recent Posts

Followers

Blog Archive

Follow by Email

[about]

[Latest News][6]

Affiliate Marketing Guides
Agriculture Business Ideas
Amazon Online Store Tips
Banking & Finance Tips
Blogging & Webmaster Guides
Bulk SMS Short Code Guides
Computer & IT Business Ideas
Education Business Ideas
Entrepreneurship Tips & Freebies
Facebook Autopilot & Tips
Fashion & Decoration Ideas
Financial Calculators
Fiverr Income Guides
Free SMS Text Messages
Google Adsense Tips
Health Business Opportunities
Inspirational Poems & Literature
Insurance & Risk Management
Job Search Tips
Mobile Phone Tips & Business
Motivational Quotes & Tips
Oil & Gas Business Ideas
Online Business Guides
Online Importation Business Guides
Small Scale Business Ideas
Social Media Income Guides
Start-Up Business Ideas
Transportation & Haulage Ideas
Web & Graphic Designing Ideas
Work-At-Home Business Ideas