Question

SFC is prohibited from granting financial assistance to any company whose aggregate paid

up capital exceed__________.

A. 1 crore.

B. 1.5 crores.

C. 2 crores.

D. 2.5 crores​

Answer 1

Hello !

SFC is prohibited from granting financial assistance to any company whose aggregate paid   up capital exceed 1 crore .

Hope It Helps u :)

Answer 2

Answer:

SFC is prohibited from granting financial assistance to any company whose aggregate paid up capital exceed of 1 crore.

Therefore, the answer is option (a) 1 crore.

Explanation:

The State Finance Corporations (SFCs) are a crucial component of a nation's institutional financial system. Where SEC supports state-based small and medium-sized businesses. Additionally, SFC contributes to balanced regional development, increased investment, increased job creation, and widespread ownership of various businesses.

There are now 18 state finance corporations in India (out of which 17 SFCs were established under the SFC Act 1951). The Company Act of 1949 authorised the creation of Tamil Nadu Industrial Investment Corporation Ltd., which also serves as a state financing institution.

The State Finance Corporations are governed by a board of ten directors. In general, the State Government names the names of three other directors and names the managing director in consultation with the RBI.Three directors are chosen by each insurance company, scheduled bank, investment trust, cooperative bank, and other financial entity.

As a result, the bulk of the directors are chosen by quasi-governmental organisations and the state government.

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