Assam Financial Corporation (AFC)

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Assam Financial Corporation (AFC)

Assam Financial Corporation (AFC) was established under the Central Act, viz., The State Financial Corporations Act, 1951, with the basic objective of promoting and developing small scale and medium scale industries in the State with a special focus on spreading industrial culture in the rural, semi-urban and backward areas of the States. The corporation is owned by the Assam state government jointly with IDBI and is functioning under the administrative control of the state government.

The Chairman and Managing Directors of AFC are senior IAS officers appointed by the state government in consultation with IDBI. The Board of Directors of AFC are highly professional in character and consist of senior executives of the state government, a representative each from RBI, IDBI and SIDBI, besides other interests like Co-operatives, Life Insurance, entrepreneurs are also represented on the Board. AFC employs highly professional and technical personnel to carry on the business operations such as M.B.As., C.As., engineers, marketing experts, etc.

Assam Financial Corporation caters to the requirements of the entrepreneurs .It provides term loan to small and medium scale industries for creation of assets, viz., land, building and machinery. It also provide working capital term loan to the industrial units on competitive terms.

The Corporation also provides Non Fund based services like Merchant Banking, Under-Writing of Public Issues, Project Counselling, Bill Discounting, Leasing and Hire-Purchase. It is operating a number of financial assistance schemes for the benefit of the entrepreneurs such as assistance for marketing activities, equipment finance, special schemes for assistance to ex-servicemen, single window scheme, etc.

Assam Financial Corporation provides maximum loan upto Rs.240 lakhs. The interest on loan ranges between 13.75% to 16.5% depending upon the size of the loan and term.

Financial Corporation

"Vittiya Bhavan",
Md. Shah Road,
Paltan Bazar,
Guwahati-781 008.
Telephone : 0361-523448, 633658
Fax : 0361-521859