State Financial Corporations

Andhra Pradesh State Financial Corporation (APSFC) Andhra Pradesh State Financial Corporation (APSFC) is a term lending Institution established in 1956 for promoting small and medium scale industries in Andhra Pradesh under the provisions of the Sate FInancial Corporation' Act,1951.The corporation has many entrepreneur - friendly schemes to provide term loans,working capital term loans,special and seed capital assistance to suit the needs of various categories of entrepreneurs.The Corporation has 45 years of expertise in industrial financing engaged in the business of financing tiny,small and medium scale sector units and thriving for balanced reginal development of the state. Contact Information Andhra Pradesh State Financial Corporation 5-9-194, PB No:165 Chirag Ali Lane, Hyderabad 500001. Tel. Ph No: + 91 40 23201646, 23202550 Mob: + 91 98665 12503 / 502 / 501 Grams: AFINCORP Fax:040-23202972 Mail: ho@apsfc.com For more details Click here Arunachal Pradesh Industrial Development and Financial Corporation (APIDFC) Arunachal Pradesh Industrial Development and Financial Corporation (APIDFC) was incorporated in the year 1978 as company under Companies Act, 1956 for promotion of industries in Arunachal Pradesh. It is performing the twin role of State Industrial Development Corporation and State Financial Corporation. Activities Arunachal Pradesh Industrial Development and Financial Corporation (APIDFC) besides providing financial assistance, carries out the following promotional and development activities : Development Of Infrastructure Facilities: One of the main objectives of setting up of APIDFC is to develop Infrastructure facilities for promotion of industrial development in Arunachal Pradesh. APIDFC, however, does not take up the activities due to fact that the Department of Industries is handling all infrastructuredevelopment activities like establishment of industrial estate/growth centre, export promotion industrial park and integrated infrastructure development centres. The State Govt., has been requested to hand over all such activities to APIDFC as being done by such other SIDCs. Industrial Promotion: Despite being rich in natural resources and even offer of invitation for various development programs in the State during the five year plans, the level of economic development in Arunachal Pradesh continues to be very low compared with that of the other states and the country too. The industrial development in the State is poor due to : Lack of basic infrastructure in the form of food, communication, transportation and power. Lack of entrepreneurship and skill among the indigenous population. Absence of marketing infrastructure. Lack of inflow of investible funds from outside the state. Extending Financial Assistance To The Prospective Entrepreneurs: The State government has appointed APIDFC as channelising agency to implement the various schemes of assistance of Arunachal Scheduled Tribes Finance & Development Corporation Ltd., a Govt. of India undertaking a apex financial body, facilitating and promoting the economic development and activities of the state. Inspite of all the inherent bottlenecks and constraints for industrial development in the State, APIDFC promoted a wide spectrum of projects covering various industrial and service sectors like weaving and knitting, saw mill, plywood manufacturing, pharmaceuticals, hotel, transport etc. A study of the resource availability, industrial scenario, climatic conditions and environmental opportunities indicates the following thrust area for industrial development : Agro and horticulture based units Mining and mineral based units Plantation crop based units

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Cottage industry product unit Adventure tourism Contact Information Managing Director Arunachal Pradesh Industrial Development & Financial Corporation Ltd., (APIDFC) Near C Sector Petrol Pump, Itanagar, District Papumpare, Arunachal Pradesh, India Pin No.: 791 111 Telephone No. : (0360) 2212672, 2212751 Fax No. : (0360) 2211786 For more details Click here Assam Financial Corporation (AFC) Assam Financial Corporation (AFC) was established under the Central Act, viz., The State Financial Corporations Act, 1951, with the basic objective of promoting and developing small scale and medium scale industries in the State with a special focus on spreading industrial culture in the rural, semi-urban and backward areas of the States. The corporation is owned by the Assam state government jointly with IDBI and is functioning under the administrative control of the state government. The Chairman and Managing Directors of AFC are senior IAS officers appointed by the state government in consultation with IDBI. The Board of Directors of AFC are highly professional in character and consist of senior executives of the state government, a representative each from RBI, IDBI and SIDBI, besides other interests like Cooperatives, Life Insurance, entrepreneurs are also represented on the Board. AFC employs highly professional and technical personnel to carry on the business operations such as M.B.As., C.As., engineers, marketing experts, etc. Assam Financial Corporation caters to the requirements of the entrepreneurs .It provides term loan to small and medium scale industries for creation of assets, viz., land, building and machinery. It also provide working capital term loan to the industrial units on competitive terms. The Corporation also provides Non Fund based services like Merchant Banking, Under-Writing of Public Issues, Project Counselling, Bill Discounting, Leasing and Hire-Purchase. It is operating a number of financial assistance schemes for the benefit of the entrepreneurs such as assistance for marketing activities, equipment finance, special schemes for assistance to ex-servicemen, single window scheme, etc. Contact Information Financial Corporation "Vittiya Bhavan", Md. Shah Road, Paltan Bazar, Guwahati-781 008. Tel: 0361 2739839/2633658 Email:afc_ho@yahoo.com,afcghy@gmail.com For more details Click here Bihar State Financial Corporation (BSFC) Bihar State Financial Corporation (BSFC) is the main state level institution providing term lending facilities to industrial entrepreneurs. Banks have also shown increasing interest in term lending to industrial units. BSFC will be restructured and strengthened to meet the growing financial and mercantile needs of entrepreneurs. Although the Government has nominated representatives of Associations of industrial enterprises and Chambers of Commerce in the Board of this Institution a need has been felt to further strengthen the Board with induction of greater number of competent professionals and representative of Chambers and Industries with proven track record. Specific criteria will be laid down for choosing professionals. Representatives of Financial Institutions will also be inducted in the Board of BSFC. BSFC will also provide services such as financial leasing, loan syndication, consultancy, Merchant Banking, entrepreneurial skill development and support for technology upgradation to the

industries in the State. The corporation would also be encouraged to establish a Venture Capital Fund for the entrepreneurs in the state. Contact Information Bihar State Financial Corporation Fraser Road Patna-800 001 EPABX: 2332785, 2332236, 2332364 Fax: (0612)-2332228. MD Cell: 0612-2332210. Email: bsfcpatna@gmail.com For more details Click here Delhi Financial Corporation (DFC) The Delhi Financial Corporation has been rendering yeoman service to small scale entrepreneurs in Delhi and Chandigarh. It has made finance available to existing and prospective entrepreneurs at very reasonable terms. The corporation has devised suitable schemes for catering the needs of different categories of entrepreneurs. Contact Information Head Office Delhi Financial Corporation Plot Nos. : 37 & 38, Institutional Area, Pankha Road, D-Block JanakPuri, Delhi-110058 Phone No. : 28525035, 28525036, 28525037, 28525038,28525039 Fax no. 28525041 E-Mail (Delhi) : dgmdfc.delhi@nic.in Branch Office 4th Floor, Ambedkar Bhawan, Sector - 16, Rohini, Delhi - 110085 Tel: 27572696, 27572697,27572699 Branch Office 182/19, Industrial Area Phase-I, Chandigarh-160002 Tel: (0172) 2652738, 2652739, 2652710 E-mail : http://dfcdelhi.nic.in/dfc-chandigarh@usa.net For more details Click here The Economic Development Corporation (EDC) of Goa The Economic Development Corporation (EDC) of Goa, established in 1975 has been the State Financial Institution. It has been incorporated as an SIDC and a limited company . However, it has also been accorded twin status of SFC by IDBI/SIDBI. Area of Operation The Corporation has been extending financial assistance mainly for the development of industries and service sector in the State of Goa and Union Territory of Daman & Diu, Dadra and Nagar Haveli. The Corporation now intends to widen up its area of operations in the surrounding areas of Goa as well as Mumbai. Other Financial Instruments It is worth noting that consequent to the liberalisation in the economy and the exponential growth in the financial sector, EDC has also made an attempt to diversify its portfolio in different financial instruments and the Corporate Loan portfolio. This also includes medium term loan, bill discounting, lease finance, etc.The introduction of these instruments have enabled the Corporation to enhance its profitability as also improve upon the NPAs. CAD/CAM, EDP and other activities The Corporation has also been active in fields like Enterpreneurship Development, Computer Training, Urban Development, etc.

The Corporation has achieved another milestone with the establishment of Patto Plaza Urban Development Centre near Panaji Bus Stand. This will give a boost to the directional development of the capital of Goa. Contact Information Panaji Head office EDC Limited, EDC House, P. B. No. 275 Dr. Atmaram Borkar Road, Panaji, Goa. 403 001. Phone: 0832-2224542 FAX: 0832-2224938 E-mail: edcpanaji@edc-goa.com Daman Office EDC Limited, Administrative Building of Goa Industrial Development Corporation, 1st Floor, Daman Industrial Estate, Near Somnath Mahadeo Temple, Dabhel, Nani, Daman. 396215 Phone:0260-2242902 For more information Click here Gujarat State Financial Corporation (GSFC) Gujarat State Financial Corporation (GSFC) incorporated under the State Financial Corporations Act of 1951, is a trend setter and path breaker in the field of industrial finance. It plays a major role in the development and industrialization of Gujarat by extending credit assistance to suit individual requirements. Gujarat State Financial Corporation established with main object for development activities to contribute to social upliftment, regional dispersal of industrial activities and to adding to Gross Stock Domestic Products. Also for promoting economic growth, balanced regional development and widening of entrepreneurial base by financing small enterprises. GSFC a premier, regional development bank set up by Government of Gujarat, to provide finance to new industrial units, for acquisition of Fixed Assets, Expansion, Modernization, Diversification, Renovation etc. The Industrial concern must set up in the state of Gujarat and the Union Territories of Diu, Dadra and Nagar Haveli. Contact Information Block No.10, Sector-11, Udyogbhavan Gandhinagar. 382 011. Gujarat. India. Phone No.: +91 79 23256793 Fax No.: +91 79 23252204 / 05 Email: webmaster-gsfc@gujarat.gov.in Haryana Financial Corporation (HFC) has been set up under an Act of Parliament known as State Financial Corporation's Act. 1951 and the working is governed by this Act. The Head Office of the Corporation is at Chandigarh and branch offices at each district headquarter of Haryana. At the head office main divisions are : Appraisal Division Disbursement Division, Finance Division, Recovery Division, Legal Division and Administration Division. HFC meets the credit needs of small/medium scale industrial units by advancing term loans & working Capital. The loans are advanced primarily for acquiring fixed assets such as land, building, plant & machinery, raw material etc. Contact Address

Haryana Financial Corporation Bays 17-18-19, Sector 17-A, Chandigarh 160017. India Phone :91-0172-2702755-57 Fax :91-0172-2702666 Email :-mdhfc@airtelmail.in For more information Click here Himachal Pradesh Financial Corporation (HPFC) Himachal Pradesh Financial Corporation (HPFC) was established in the State under the Central Act, viz. The State Financial Corporations Act, 1951, with the basic objective of promoting and developing small scale and medium scale industries in the State with a special focus on spreading industrial culture in the rural, semi-urban and backward areas of the State. The Corporation is owned by the State Government jointly with IDBI and is functioning under the administrative control of the State Government. Contact information Himachal Pradesh Financial Corporation, New Himrus Building, Circular Road,Shimla-171001. PABX : 2624228, 2625940 Fax : 0177-2623027 E-Mail: mdhpfc-hp@nic.in For more contact details Click here For more details Click here Jammu & Kashmir State Financial Corporation (J&KSFC) The Jammu & Kashmir State Financial Corporation (J&KSFC) was established to act as a Regional Development Bank with the aim of boosting economic development in the State for providing financial assistance in the shape of loans to prospective entrepreneurs for development of Industries. It was incorporated under The SFCs Act 1951 on 2nd December 1959 as a Development Bank for promotion of Small Scale Industries, hotels, houseboats and transport sector in Jammu & Kashmir. The Board of J&K SFC is headed by Honourable Finance Minister, Shri Mohd. Shafi. The Board has been from time to time assessing the performance of institution with a view to achieve the objectives for which it was instituted. Karnataka State Financial Corporation (KSFC) The focus of Karnataka State Financial Corporation (KSFC) has always been on the small scale sector, artisans, tiny units and disadvantaged groups. KSFC has been the main term lending institution in most of the districts for first generation entrepreneurs. Karnataka State Financial Corporation KSFC Bhavan # 1/1 Thimmaiah Road BANGALORE 560052 Karnataka INDIA Phone: +91 80 22263322 Fax: +91 80 22250126 Email: info@ksfc.in For more information Click here Kerala Financial Corporation (KFC) Kerala Financial Corporation (KFC) was established in the State under the Central Act, viz.. The State Financial Corporations Act, 1951, with the basic objective of promoting and developing small scale and medium scale industries in the state with a special focus on spreading industrial culture in the rural, semi-urban and backward areas of the State. The Corporation is owned by the State Government jointly with IDBI and is functioning under the administrative control of the State Government.

The Chairman and Managing Director of KFC is a senior IAS officer appointed by the State Government in consultation with IDBI. The Board of Directors are highly professional in character and consist of senior executives of the state government, a representative each from RBI, IDBI and SIDBI, besides other interests like Co-operatives, Life Insurance, entrepreneurs are also represented on the Board. Highly professional and technical personnel are employed to carry on the business operations such as M.B.As, C.As., engineers, marketing experts, etc. KFC caters to the requirements of the entrepreneurs by providing term-loan to small and medium scale industries for creation of assets, viz., land, building and machinery. It also provides working capital term-loan to the industrial units on competitive terms. Kerala Financial Corporation also provide non-fund based services like merchant banking, under-writing of public issues, project counselling, bill discounting, leasing and hire-purchase. It is operating a number of financial assistance schemes for the benefit of the entrepreneurs such as assistance for marketing activities, equipment finance, special schemes for assistance to ex-servicemen, single window scheme, etc. Contact Information Kerala Financial Corporation Vellayambalam Thiruvananthapuram 695033, Kerala, India Phone: +91-471-2318319 (7 lines) +91-471-2311750/ 2729293 Email: kfc@kfc.org For more contact details Click here For more information Click here Madhya Pradesh Financial Corporation (MPFC) Madhya Pradesh Financial Corporation (MPFC) is the premier institution of the State engaged in providing financial assistance and related services to small to medium sized industries. Also, it is registered as Category-I Merchant Banker with Securities Exchange Board of India and setup a separate Merchant Banking Division in the name of MPFC Capital Markets. Incorporated in the year 1955, under the State Financial Corporation Act, 1951 (No. LXIII of 1951), it works under the control of the Board of Directors, consisting of representatives from State Government, Industrial Development Bank of India, Small Scale Industrial Development Bank of India, Reserve Bank of India, Scheduled Banks, Insurance Companies, Co-operative Banks and other shareholders. MPFC is a well knit organisation with its head quarters at Indore - the industrial hub of Madhya Pradesh. It has zonal offices at Raipur, Jabalpur, Bhopal, Gwalior, Indore, Satna, and various branches at different places; making a total of eighteen offices throughout Madhya Pradesh. Contact Information Head office "Finance House" Agra Bombay Road, INDORE 452 001. Tel. : 0731-2580500. Fax : 0731-2580505. email: finance@mpfc.org For more contact details Click here For more information Click here The Maharashtra State Financial Corporation (MSFC) The Maharashtra State Financial Corporation (MSFC) has been set up under the 'State Financial Corporations Act, 1951. The Corporation operates in State of Maharashtra from 1962 and in State of Goa and Union Territory of Daman & Diu since 1964. Functions And Objectives The main function of the Corporation is to meet the term loan requirements of small and medium scale industries for acquisition of fixed assets like land, building, machinery and equipments. The loans are given for setting up new industrial units as well as for expansion and modernisation of the existing units.

The objective of the Corporation is to promote more industries in backward and developing areas of Maharashtra. Goa and Union Territory of Daman & Diu. Organisational Set Up The Corporation is a highly decentralised organisation and has network of offices in all the districts of Maharashtra and Goa except Gadchiroli. There are nine Regional Offices and twenty Branch Offices. Orissa State Financial Corporation (OSFC) The Orissa State Financial Corporation (OSFC) is the primary state level financing institution incorporated in the year 1956 under the State Financial Corporations Act, 1951. The Corporation extends term loan for acquiring fixed assets like land, building, plant and machinery, equipment and margin money for working capital for setting up of industries. OSFC also provides working capital assistance under Single Window Scheme. Priority is given to small and tiny sector industrial units in backward areas. For contact details Click here For more information Click here Punjab Financial Corporation (PFC) The Punjab Financial Corporation (PFC) has been established under the State Financial Corporation Act, 1951, for providing medium and long term loans to small and medium scale industrial undertakings in the State of Punjab. It generally grants term loans for creation/ acquisition of fixed assets like land, building, plant & machinery, provides guarantee against deferred payments for the purchase of capital goods and offers underwriting facility on issue of stocks and shares to companies. The Corporation also provides financial assistance for setting up of hotels, nursing homes/small hospitals, development of industrial estates and purchase of transport vehicles, etc. Contact Information Punjab Financial Corporation State of Punjab 95-98, Bank Square,Sector 17-B, Chandigarh Phone Nos: (0172) 2709295,2709296,2709298, 2702425,2708405,2708420, 2708435,2708495 Fax: (0172) 2702664,2709297 Email: pfcchd@sify.com For contact details Click here For more information Click here Rajasthan Financial Corporation (RFC) Since its very inception, the Rajasthan Financial Corporation (RFC) has been striving incessantly towards its goalthat of extending a helping hand to a varied entrepreneurial section of society for their financial requirements. A goal, ultimately aimed at sparring the process of industrialization of its parent State. For the fulfillment its prime objective, it operates various loan schemes for tiny, small and medium scale industries, many of them tailor-made for specific entrepreneurial classes. Contact information Rajasthan Financial Corporation Head Office: Udyog Bhawan, Tilak Marg, Jaipur-302005 EPABX : 0141-2385522 GRAM : RAJFINCO. RFC.IN FAX : 0141-2385503 e-mail : info@rfconline.org For more contact details Click here For more information Click here Uttar Pradesh Financial Corporation (UPFC) Uttar Pradesh Financial Corporation (UPFC ) was established in 1954 under the State Financial Corporation Act, 1951 with its Head Office at Kanpur. The UPFC took a humble step for the industrial development of the State of Uttar Pradesh by providing term loan assistance to small and medium scale units. Several units nurtured by UPFC have now become large enterprises.

Uttar Pradesh Financial Corporation (UPFC) 14/88 , Civil Lines, Kanpur Uttar Pradesh 208001 Email:upfinco@sancharnet.in, upfchoknp@sancharnet.in Phone: 91-512-2530041, 2530042, 2530043, 2530044 Fax : 91-512-2530073, 2533743 For more information Click here West Bengal Financial Corporation (WBFC) West Bengal Financial Corporation (WBFC) was established under the State Financial Corporation Act, 1951. The WBFC provides loans, assistance and term finance to small and medium scale industries. Technical guidance is given to entrepreneurs for project formulation and organisation, restructuring etc. WBFC has formed Entrepreneurs Assistance Cell which holds regular meetings with commercial banks, WBSEB, WBSIC, SISI, WEBCON etc. to render services to the units seeking working capital assistance. The Cell also renders other services like arranging for various inputs like power, industrial sheds, working capital finance etc. Short term finance by way of Working Capital Term Loan to seasonal industries vis. Tea gardens, rice mills, cold storages etc. These loans are self liquidating in character and do not qualify for refinance from SIDBI, IDBI. The Corporation is mainly engaged in providing term finance to Small & Medium Scale Industries. However, during the last few years there has been phenomenal changes in the role of Commercial Banks and Financial Institutions. Bank & Financial Institutions are making inroads into each other's specified territory. This means that the Commercial Banks are judiciously extending the net of the terms-finance and Financial Institutions are also providing Short Term finance to the industries. The line of distinction between Commercial Banks and Financial Institutions is getting blurred. In the case of State Financial Corporations, the average cost of funds is high in comparison to that of for commercial banks and the forces of the competition are forcing them to squeeze the operating margin by reducing the spread. Along with this the mounting financial expenses for servicing the refinance/borrowings taken earlier as also the increasing administrative expenditure on account of the salary rent, are posing a threat to our business growth and profitability. Contact Information 12A, Netaji Subhas Road(3rd & 4th Floor), Kolkata-700 001 Phone : (033)2230 0055/3259/4954/3083 Fax :(033)2230-1250 e-mail :administrator@wbfconline.org For more information Click here