ORGANIZATION PROFILE
The Odisha State Financial Corporation(OSFC) was established in 1956 under the State Financial Corporations Act,1951 with the main object of providing loan assistance to the micro, small and medium enterprises.
PURPOSE OF ASSISTANCE
Loan assistance is provided for acquisition of land, construction of factory building, purchase of plant and machinery, to meet electrification and installation expenses, and for renovation and modernisation of existing units.
INDUSTRIAL CONCERNS ELIGIBLE FOR ASSISTANCE
Under the provisions of the SFCs Act, 1951 and SFCs (Amendment) Act 2000 the Industrial concerns engaged or proposed to be engaged in any of the following activities are eligible to avail of financial assistance from the Corporation.
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Manufacture, preservation or processing of goods. |
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Mining or development of mines. |
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Hotel industry. |
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Transport of passengers or goods by road or by water or by air (or by rope way or by lift). |
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Generation or distribution of electricity or any other form of power. |
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Maintenance, repair, testing or servicing of machinery of any description or vehicles or vessels or motor boats or trailers or tractors |
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Assembling, repairing or packing any article with the aid of machinery or power. |
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Setting up or development of an industrial area or industrial estate. |
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Fishing or providing shore facilities for fishing or maintenance thereof. |
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Providing weigh bridge facilities. |
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Providing engineering, technical, financial management, marketing of other services or facilities for industry. |
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Providing medical, health or other allied services. |
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Providing software or hardware services relating to information technology, telecommunications or electronics including satellite linkage and audio or visual cable communication. |
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Setting up or development of tourism related facilities including amusement parks, convention centers, restaurants, travel and transport (including those at airports), tourist service agencies and guidance and counseling services to the tourists. |
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Construction |
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Development, construction and maintenance of roads. |
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Providing commercial complex facilities and community centers including conference halls. |
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Floriculture. |
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Tissue culture, fish culture, poultry farming, breeding and hatcheries. |
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Service industry, such as altering, ornamenting, polishing, finishing, oiling, washing, cleaning or otherwise treating or adapting any article or substance with a view to its use, sale transport, delivery or disposal . |
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Research and development of any concept technology, design, process or product whether in relation to any of the matter aforesaid, including any activities approved by the SIDBI. or |
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Such other activity as may be approved by the SIDBI. |
The Corporation has been adopting loan policies on annual basis and the same policy indicates the eligible activities for consideration of finance in a particular year.
CONSTITUTION OF INDUSTRIAL CONCERNS
An industrial concern with any of the following constitution is eligible to avail of financial assistance from the corporation.
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Companies (both Public & Private Ltd.). |
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Cooperative Societies. |
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Partnership firms. |
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Proprietorship concerns. |
LIMIT OF ACCOMMODATION
The maximum loan that can be advanced to Companies and Cooperative Societies is limited to Rs.1000.00 lakh while for proprietorship and partnership concerns the limit is Rs.400.00 lakh. The Corporation, however, has prescribed a floor level of Rs.5.00 lakh for availing of loan. |
