Intrest rate calculation

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Introduction - A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks. In the act Financial corporations are established under section 3 A of the State financial Corporations Act of 1951.

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presentationonstate financial corporationPresented by:-parul jainVanadna TyagiJitendra singhIntroduction Introduction - A Central Industrial Financecorporation was set up under the industrialFinance corporations Act, 1948 in order toprovide medium and long term credit toindustrial undertakings which fall outsidenormal activities of commercial banks. In the act Financial corporations areestablished under section 3 A of the Statefinancial Corporations Act of 1951.main features of the State financialCorporations1. The bill provides that the state government may, bynotification in the official gazette, establish afinancial corporation for the state.2. The share capital shall be fixed by the Stategovernment but shall not exceed Rs 2crores .3. Shares of the corporation will be guaranteed by theState government as to the re payment ofprincipal and the payment of a minimum dividendto be prescribed in consultation with the centralgovernment.4:- The corporation may accept deposits from thepublic repayable after not less than five years,subject to the maximum not exceeding the paidup capital.5:- The corporation will be managed by a boardconsisting of a majority of Directors nominated bythe Sate governments , The Reserve banks andthe industrial Finance corporation of India.6. The corporation will be authorized to makelong term loans to industrial concerns which arerepayable within a period not exceeding 25yearsFinancial resour

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