Our sole objective is to facilitate things for the tiny, small scale and medium scale industries, ensuring they get loans to start and sustain their businesses. We assist these businesses on long-term basis, says Anoop Khinchi, Managing Director, Rajasthan Financial Corporation (RFC), in conversation with Elets News Network (ENN).
What is the main objective of Rajasthan Financial Corporation (RFC)?
In today’s time, progress of any state is calculated on the basis of development of Micro, Small and Medium Enterprises (MSME), which is up to great extent correct as the development of industries generates jobs and subsequently improves the standard of living. We all know how desperately we need job opportunities in our country.
The sole objective of RFC is to help tiny, small scale and medium scale industries by ensuring they get loans to start and sustain their businesses. We assist these businesses on long term basis. In additions to this, the organisation also speeds up the development process in industrial policies. As we grew, we started tailor-made schemes in order to meet the varied requirements of different units.
RFC has recently reduced the lending rate. Will you throw some light on this move?
In order to make Rajasthan Financial Corporation (RFC) more competitive, we have taken few decisions; reducing the lending rate from 12 per cent to 11 per cent is one of them. We believe, with this initiative, we will be able to attract more investors. Besides, adding more flexibility to our business model, we have decided to give loans over rented property. We have also decided to provide loans upto Rs 50 lakh to those who set up their units on rented properties.
Further, under flexi loan schemes and good borrower’s scheme, the rates will be 12 per cent and 10.75 per cent, respectively. Earlier, these rates were 13 per cent and 11.75 per cent, respectively.
The sole objective of RFC is to help tiny, small scale and medium scale industries by ensuring they get loans to start and sustain their businesses.
What are the other schemes offered by RFC?
We have taken all the business into consideration and over the period of time, devised and developed several loan schemes. And as I mentioned earlier, we have also considered the types of borrowers – be it service sectors i.e. hospital, nursery, tourism and information technology, textile industry, commercial projects, and many others.
Will you also brief us on the significance of Young Entrepreneurs Incentive Scheme?
In this scheme, we sanction loan upto 90 lakhs. Financial assistance for projects which ranges between Rs. 25 lakhs to Rs. 1 Crore is also provided. We also offer awards under this scheme. Getting help for getting land from RIICO, guidance and assistance by department officers, etc are few other benefits extended to the businessmen.