STATE FINANCIAL CORPORATION (SFC's): State Financial Corporations (SFCS) are set up under State Financial Corporations Act. 1951 with a principal objective of meeting the credit needs of medium and small scale industries located in backward areas in different states in the country.
The main purpose of SFC's is to induce industrial activity in the entire country including backward regions. The industrial units located in backward regions are given special treatment in terms of concessional rates of interest, lower margins, reduces service charges, preferential sanction and disbursements of loans and so on.
By the end of March 2002, there are 18 SFCS.
The main purpose of SFC's is to induce industrial activity in the entire country including backward regions. The industrial units located in backward regions are given special treatment in terms of concessional rates of interest, lower margins, reduces service charges, preferential sanction and disbursements of loans and so on.
By the end of March 2002, there are 18 SFCS.
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