Promotional activities of IFCI
Industrial Finance Corporation of India (IFCI) undertakes various promotional activities financed out of its Benevolent Reserve Fund. The following promotional activities are worth mentioning:
1. Entrepreneurial Guidance by IFCI
The IFCI has set up its offices at various centers in the country, which are fully equipped to give necessary guidance to the entrepreneurs in the matter of preparation of the applications and their submission. Guidance can also be obtained in all matters connected with project planning, completion of application form, understanding the institutional norms, eligibility for finance under various schemes etc.
2. Technical Consultancy Organization Sponsored by IFCI
The TCOs provide guidance and advice to new entrepreneurs during the various phases of the project cycles namely, project identification, project formulation, implementation etc. The TCOs have also organized various entrepreneurial development programmes for the benefit of small entrepreneurs. The IFCI and other financial institutions have jointly sponsored the TCOs.
3. Risk Capital Scheme of IFCI
The Risk Capital Foundation (RCF) was sponsored by the IFCI in 1975, with a view to provide special assistance to new entrepreneurs particularly technologists and professionals to promote medium sized industries. The assistance is provided in the form of interest free personal loans on soft terms to enable them to meet a part of their own contribution.
4. Technical Assistance Scheme of IFCI
The Corporation, on its own, introduced four new promotional schemes in the year 1978 to encourage small entrepreneurs to promote small and ancillary units. In 1982, the Corporation also formulated two new schemes. Of the two new schemes, one relates to the revival of sick units in the tiny and small sector and the other is concerned with the self-employment of unemployed young persons.