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Resource Mobilization — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipResource Mobilization4 Marks
Question
Write an explanatory note on the financing schemes of state level financial institutions and their importance in promotion of an entrepreneur in India.
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Answer

The financing schemes of state level financial institutions are as follows:
  1. SFCs provide financial assistance to small and medium enterprises, whether belonging to corporate or non-corporate sector and engaged not only in manufacture, preservation or processing of goods, but also mining, hotel industry, transport undertakings, generation or distribution of electricity, repairs and maintenance of machinery, setting up or development of an industrial area or industrial estate, etc.
  2. Provide long-term and medium-term loan repayment, ordinarily within a period not exceeding 20 years.
  3. Grant financial assistance to any single industrial concern under corporate sector with an aggregate upper limit of ₹60 lakh. For non-corporate sector, the upper limit is ₹ 30 lakh.
  4. Provide financial assistance to those industries whose paid-up share capital and free reserves do not exceed ₹ 3 crore.
  5. Guaranteeing loans raised by industrial concerns which are repayable within a period not exceeding 20 years.
  6. Guaranteeing deferred payment due from an industrial concern for purchase of capital goods in India.

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