Omar is successfully producing a spareparts of machines in his enterprise. Omar Industrial Spares Ltd. He is in need of a machine costing Rs 14 lakhs and is to be imported from Swedan. Suggest him a financial institution who can provide loan assistance for 10 years. Write the functions of this financial institution.
Answers
Explanation:
The State Financial Corporation (SFC) can provide him a Ion for 10 years. Functions of SFC: 1. Grant of loans and advances to or subscribe to debentures of, industrial concerns repayable within a period not exceeding 20 years. 2. Guaranteeing deferred payments due from an industrial concern for purchase of capital goods in India. 3. Underwriting of the issue of stock, bonds or debentures by industrial concerns. 4. Subscribing to, or purchasing of, the stock, shares, bonds or debentures of an industrial concern subject to a maximum of 30 per cent of the subscribed capital, or 30 per cent of paid up share capital and free reserve, whichever is less. 5. Act as agent of the Capital government, State government, IDBI, IFCI or any other financial institution in the matter of grant of loan or business of IDBI, IFCI or financial institution.
Hope that it would be helpful to you
Please mark it as BRAINLIST and follow me