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state financial corporation

Saniya Siddique

Created on October 26, 2023

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Transcript

state financial corporation

start

saniyasiddique

This is an index

1. History and Background

7. Drawbacks

8. Financial resources

2.Meaning n purpose

9. ssIs institutions

3. Objectives

4. Achievements

10. sfcs in India

5. Functions

11. Conclusion

6. Challenges

12. Thanks

history and background

  • The State Finance Corporations (SFCs) are the integral part of institutional finance structure in the country. SFC promotes small and medium industries of the states. Besides, SFCs are helpful in ensuring balanced regional development, higher investment, more employment generation and broad ownership of industries.
  • At present there are 18 state finance corporations (out of which 17 SFCs were established under SFC Act 1951). Tamil Nadu Industrial Investment Corporation Ltd. established under Company Act, 1949, is also working as state finance corporation.

Meaning of SFCs:

Purpose of SFCs

  • SFCs have been set up with the purpose of catalysing higher investment, engendering greater employment & extending the ownership base of industries.
  • They have also started offering assistance to newer types of business activities like tissue culture, poultry farming, services related to engineering, marketing and commercial complexes.

A State Financial Corporation is a specialized financial institution established by the state government in India to promote and provide financial assistance to small and medium enterprises (SMEs) within the state. SFCs play a crucial role in the development of industries, trade, and infrastructure at the state level.

  • To establish uniformity in regional industries.
  • To bring efficiency in regional industrial units.
  • To provide incentives to new industries.
  • To provide finance to small scale, medium sized and cottage industries in the state..
  • To develop regional financial resources.

OBJECTIVES OF SFCs

Achievements

Financial Impact : We have disbursed over $X billion in loans, enabling businesses to create jobs, stimulate innovation, and generate revenue, resulting in a positive economic impact.
50 Years of Service : Since our establishment, we have been a pillar of support to thousands of businesses, contributing to their success and fostering economic growth in our state.
Recognition : We have been recognized at both regional and national levels for our contributions to the business community and our commitment to fostering entrepreneurship.

Functions

  • Guaranteeing deferred payments for the purchase of capital goods by industrial concerns within India.
  • Discounting the bills of small and medium scale industries.

The main function of the SFCS is to provide loans to small and medium scale industries engaged in the

  • manufacture,
  • preservation or processing of goods
  • mining
  • generation or distribution of power.
  • Guaranteeing loans raised by the industrial concerns repayable within twenty years.
  • Underwriting of the shares, bonds and debentures subject to their disposal in the market within seven years.

2. Rapid Technological Advancements

Challenges

The ever-evolving landscape of technology poses challenges in terms of implementing digital transformations while ensuring data security and efficient service delivery.

3. Competition

1. Economic Volatility

In order to remain relevant, we must continuously adapt and innovate to stay ahead of the competition, ensuring that our services meet the changing needs of businesses.

As an organization dependent on economic conditions, we face challenges related to market fluctuations, interest rate changes, and funding availability.

Higher rate of interest and hard terms and conditions.

dRAWBACKS

Lack of adequate specialized technical and trained staff for efficient working.

The financial recourses of the Sfc's are limited and inadequate. They are facing problems of attracting more funds.

State Finance Corporation show bias in favor of financing large scale units rather than to small scale units.

The SFC's mobilize their financial resources from the following sources:

FINANCIAL RESOURCES OF THE SFC'S

1.Their own Share capital.2.Income from investment and repayment of loans. 3.Sale of bonds. 4.Loans from the IDBI 5.Borrowings from the Reserve Bank of India. 6.Deposits from the Public. 7.Loans from State Governments.

INSTITUTIONS SUPPORTING SMALL SCALE INDUSTRIES

Haryana Financial Corporation (HFC)Jammu & Kashmir State Financial Corporation (JKSFC) -Kamataka State Financial Corporation (KSFC) Kerala Financial Corporation (KFC) Maharashtra State Financial Corporation (MSFC) -Odisha State Financial Corporation (OSFC) Punjab Financial Corporation (PFC) West Bengal Financial Corporation (WBFC)

STATE FINANCIAL CORPORATIONS (SFCS) IN INDIA

In India, there are 18 State Financial Corporations (SFCs)-Andhra Pradesh State Financial Corporation (APSFC) Himachal Pradesh Financial Corporation (HPFC) Madhya Pradesh Financial Corporation (MPFC) North Eastern Development Finance Corporation (NEDFI) Rajasthan Finance Corporation (RFC) Tamil Nadu Industrial Investment Corporation Limited -Uttar Pradesh Financial Corporation (UPFC) Delhi Financial Corporation (DFC) - Gujarat State Financial Corporation (GSFC) The Economic Development Corporation of Goa (EDC)

CONCLUSION

State financial corporations have not been able to become popular due to poor implementation and poor investments that they have undertaken. As they invest in small scale industries the returns will be lower as gestation period for small scale industries is very long. -Business decisions must be taken with a purely business perspective in mind and political, emotional factors should not play the major factors while making business decisions.

THANKYOU

If u have any query please visit below links:

https://dcmsme.gov.in/publications/books/ssi02.htm

https://ksfc.karnataka.gov.in/english

If u want to know in depth inforamtion about finance system be present at :MUNIRAJU SIR'S CLASSES

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