ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MSFC as a Development Catalyst

S P Upasani, IAS THE Maharashtra State Financial Corpora tion (MSFC) was formed after the re-organisation of states in 1962 and extended its operations to Union Territory of Goa, Daman and Diu in 1964. MSFC works for the cause of industrial development in the state by catering to the term loan requirements of small and medium scale industries for acquiring fixed assets like land, building, plant and machinery, etc. The Corporation extends financial assistance to industrial units by granting loans upto Rs 30 lakh to limited companies or registered co-operative societies and Rs 15 lakh to proprietary and partnership concerns. The bill raising this ceiling of financial assistance to Rs 60 lakh alongwith provision for several significant changes for SFCs working was recently passed by the Lok Sabha. These modifications are soon to widen the scope of the working of the Corporation.

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