12-28-2009, 11:05 PM
State Financial Corporations (SFCs), the state-level institutions have played an important role in the development of small and medium enterprises in their respective states with the main objectives of financing and promoting these enterprises for achieving balanced regional growth, catalyse investment, generate employment and widen the ownership base of industry. With the liberalisation drive getting accelerated, SFC’s future business is likely to face SFCS provides a range of financial services that utilizes sound and dynamic investment decisions to select clients aiming to protect and develop their global wealth.
The State Financial Corporations (SFCs) are state-level financial institutions, operating as nregional development banks playing a crucialm role in the development of small and medium enterprises in the states concerned in tandem with national priorities.
There are 18 SFCs in the country, of which 17 were set up under the SFCs Act 1951. Tamil Nadu Industrial Investment Corporation Ltd. established in 1949 under the Companies Act as Madras Industrial Investment
Corporation, also functions as a SFC.
SFCs provide financial assistance by way of term loans, direct subscription to equity/debentures, guarantees, discounting of bills of exchange and seed/ special capital. The SFCs operate a number of schemes of refinance and equity type assistance on behalf of IDBI/SIDBI in addition to special schemes for artisans and special target groups such as SC/ST, women, ex- servicemen, physically handicapped, etc.
The State Financial Corporations (SFCs) are state-level financial institutions, operating as nregional development banks playing a crucialm role in the development of small and medium enterprises in the states concerned in tandem with national priorities.
There are 18 SFCs in the country, of which 17 were set up under the SFCs Act 1951. Tamil Nadu Industrial Investment Corporation Ltd. established in 1949 under the Companies Act as Madras Industrial Investment
Corporation, also functions as a SFC.
SFCs provide financial assistance by way of term loans, direct subscription to equity/debentures, guarantees, discounting of bills of exchange and seed/ special capital. The SFCs operate a number of schemes of refinance and equity type assistance on behalf of IDBI/SIDBI in addition to special schemes for artisans and special target groups such as SC/ST, women, ex- servicemen, physically handicapped, etc.