Public Sector Enterprises in Rajasthan: Rajasthan Financial Corporation

About Rajasthan Financial Corporation

Rajasthan Financial Corporation is abiding to work as a mechanism of expansion for deciphering into practice the industrial strategies and precedence of the State as well as Central Governments and also for supplying and civilizing upon instant aid in the intended and unprejudiced progress of industries in Rajasthan, predominantly in the small sectors.

Establishment

The Rajasthan Financial Corporation was established under the declaration of the State Government dated January 17, 1955 under the State Financial Corporations Act, 1951, for offering continuing monetary support to small scale industries and medium scale industries in Rajasthan.

Objective

Rajasthan Financial Corporation, since its inception, has been determined unremittingly towards its objective of expanding a helping hand to speckled entrepreneurial segment of the society for their fiscal necessities.  For the achievement of its key objective it functions a variety of loan schemes for small scale and medium scale industries, many of them bespoke for detailed entrepreneurial classes. Ever equipped to espouse over and above to acclimatize itself to the altering industrial requirements, Rajasthan Financial Corporation has over the period, broadened its association, and burgeoned its plentiful schemes.

Expansion

Rajasthan Financial Corporation has protracted into in 33 Districts with 37 Branches as well as 5 Sub Offices. The Branches are appropriately outfitted to function as entrepreneurial leadership centers and train substantial entrusted authority with regard to authorization, certification and disbursement of monetary support.

Organizational Set - up

The general superintendent and management of affairs lies with the Board of Directors, comprising of legislative body of State Government, Public Sector Banks, Insurance companies, SIDBI, LIC and Institutions controlled by the Central Government or State Government and other authentic share holders. Corporation policies are carried out by the Managing Director and the Chairman supported by General Managers, Executive Director, Departmental heads in Head Offices, Branch Managers and Deputy General Managers in the field.

Services Rendered

• Rajasthan Financial Corporation endows term loan up to Rs. 2000 lakhs to Co-operative societies and limited companies and up to Rs. 800 lakhs to partnership and proprietary companies.

• Accessible productions having Net value up to Rs. 30 Crores are entitled for economic support under the provision of the State Financial Corporation Act.

• Rajasthan Financial Corporation also offers short - term line of credit services to fine solicitors for obtaining fixed assets and to convene their functioning capital necessities.