discuss briefly the management functions and performance of sifcs/siics
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State-Level Industrial Development Banks in other words SFCs and SIDCs/SIICs are the kinds of institutions used to study the state-level industrial development banks.
Their functions are given below:
Explanation:
- The SIDCs/SIICs came on the scene much after the SFCs. Whereas the SFCs of the state governments and IDBI (earlier, the RBI) the SIDCs/SIICs have been set up entirely by state governments. Besides providing finance, these institutions perform a variety of functions, such as arranging for land, power, roads, licenses for industrial units, sponsoring the establishment of such units, especially in backward areas, etc.
- They score over other development banks in that about one-third of their total finance is provided in the form, of underwriting/direct subscription assistance and only about two-thirds of it in the form of term loans. Since inception up-to March 1995 the total amount of assistance sanctioned and disbursed by them was about Rs. 9,800 crores and Rs. 7,000 crores, respectively.
- A significant part of this assistance goes to units in the joint sector and the public sector and only the rest to the units in the private sector. The funds are raised from the usual sources, viz., share capital and reserves, borrowings from the IDBI, the state governments and banks, and bonds and debentures. These institutions also suffer from the problems of defaults, inadequate and inexperienced staff, and organizational deficiencies.
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