Tag: sources of business finance - 2

SFC stands for State Finance Corporation. It promotes medium and small industries of the particular states and also ensures balanced regional development, employment generation and vast ownership of industries.

Risk capital and Technology Finance Corporation (RCTFC), a subsidiary of the Industrial Finance Corporation of India, plans to promote new technologies for industrial use in a big way. Under its scheme, newly-developed technologies would be bought over from scientists, who would be given financial assistance to embark on full-scale commercial projects. 

IFCI stands for Industrial Finance Corporation of India. It performs a role of financier by providing long term loans to industrial sector of India for its functions. It also plays a role of promoter by promoting development of  industries and economy of the country.

The company Risk capital foundation was converted into the Risk capital and technology finance corporation in 1988 when IFCI introduced the technology and finance and development scheme for financing development and commercialization of indigenous technology. 

SFC stands for State Finance Corporations. It promotes medium and small industries of the particular states and also ensures balanced regional development, employment generation and vast ownership of industries. The Sate Financial Corporation Act was later amended in 1962 under State Financial Corporation (Amendment) Act, 1962.

The IFCi has set up the following:

Installment Credit Scheme was introduced by IFCI. Under this scheme, better flexibility in repayment period and simplicity in interest calculation is provided. To avail this scheme, the company should have satisfactory track record of its credit worthiness and financial position.

• First, the main function of the IFCI is to provide medium and long-term loans and advances to industrial and manufacturing concerns. It looks into a few factors before granting any loans. They study the importance of the industry in our national economy, the overall cost of the project, and finally the quality of the product and the management of the company. If the above factors have satisfactory results the IFCI will grant the loan.

The UTI started its operation with effect from July, 1964. The Unit Trust was set up under the Unit Trust of India Act  1963.It was set up by the Reserve Bank of India. It largely deals with the mutual funds.