| The Orissa State Financial
Corporation(OSFC) was established in 1956 under the State Financial
Corporations Act,1951 with the main object of providing loan
assistance to the tiny, small and medium scale industrial concerns.
PURPOSE OF ASSISTANCE
Loan assistance is provided for construction of factory building,
purchase of plant and machinery, to meet electrification and
installation expenses, and for renovation and modernisation
of existing units.
INDUSTRIAL CONCERNS ELIGIBLE FOR ASSISTANCE
Industrial concerns engaged or proposed to be engaged in any
of the following activities are eligible to avail of financial
assistance from the Corporation.
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Manufacture, Preservation or processing of goods, assembling,
repairing or packing of any article,
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Mining, providing drilling facilities, heavy material
handling equipment, cranes, earth moving equipment,
road construction equipment,
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Transport, weigh bridge facilities, industrial estates,
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Power generation, providing telex/tele-communication
facilities, photocopying, computer,
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Hotel, community centres, amusement parks and other
tourism related activities,
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Hospitals/nursing homes,
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Providing special or technical knowledge, or other
services for the promotion of industrial growth etc.,
and
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Such other activity
as may be approved by the Industrial Development Bank
of India(IDBI). |
CONSTITUTION OF INDUSTRIAL CONCERNS
An industrial concern with any of the following constitution
is eligible to avail of financial assistance from the corporation.
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Companies (both Public & Private Ltd.).
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Cooperative Societies.
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Partnership firms.
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Proprietorship concerns.
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LIMIT OF ACCOMMODATION
The maximum loan that can be advanced to Companies and Cooperative
Societies is limited to Rs.150.00 lakh while for proprietorship
and partnership concerns the limit is Rs.90.00 lakh. But,
in consortium with IPICOL and Commercial banks, loans above
Rs.150.00 lakh can be sanctioned to a concern provided the
project cost is upto Rs.10.00 crore.
The Corporation, however, has prescribed a floor level of
Rs.2.00 lakh for availing of loan.
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