Gujarat State Financial Corporation
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Gujarat State Financial Corporation is a financial institution established by the government of the state of Gujarat, India in 1961 under the State Financial Corporations Act, 1951. The corporation is under control of the Industries & Mines Department of the Government of Gujarat.
Function
The main activity of the corporation was to sanction/disburse loans and advances to small and medium industrial units under various schemes to ensure balanced industrial growth in the State of Gujarat. In 2001, the corporation discontinued its main activity, viz., lending and advancing, and since then has been concentrating only on recovery and on its allied functions. The corporation discharges its functions/duties through a Board of Directors which consists of a Chairman, a Managing Director, nominees of the state government and nominees of SIDBI. [1]
References
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