Financial Institutions in the North East

North Eastern Development Finance Corporation Ltd. (NEDFi)

Basundhara Enclave, Dr. B.K.Kakati Road, Ulubari, Guwahati-781007.

Ph. No : (+91-0361)2529202-206, Fax-(+91-0361)2529178,

Website : http://www.nedfi.com, E-mail : mail@nedfi.com

North Eastern Development Finance Corporation Ltd. (NEDFi) aims to be a dynamic and responsive organisation to catalyse the economic development of the North East. It will assist in the efficient formation of fixed assets by identifying, financing and nurturing eco-friendly and commercially viable industrial and infrastructure projects in the region. Thus NEDFi’s prime role is to enhance the region’s wealth and prosperity of the people. In short, it is the Development Bank of the North East for the North East.

NEDFi was originally conceived in the budget speech of 1995-96, by then Finance Minister and was promoted by the country’s premier public sector financial institutions and Bank and incorporated in August, 1995 with its headquarters at Guwahati. The Corporation has an authorised capital of Rs.500 crore and initial paid up capital of Rs.100 crore. Further resources will be raised as and when needed. NEDFi started functioning since March 1996. NEDFi is a public financial institution under section 4-A of the Companies Act, 1956.

NEDFi's assistance details is as under:

State-wise Sanctions (Rs. in lakh)

State	1996 -97	1997 -98	1998 -99	1999 -00	2000 -01	2001 -'02	2002 -'03	2003 -'04	2004 -'05	2005 -'06	2006 -'07	Total
Arunachal  Pradesh	0	518	235	38	418	291	136	942	762	1593	166	4933
Assam	682	1164	2198	1725	3945	3166	3401	2639	4084	7053	3404	30057
Manipur	0	66	49	263	350	80	59	76	65	50	554	1612
Meghalaya	0	-	173	772	2659	2582	2114	4607	3458	2874	92	19331
Mizoram	0	25	51	208	156	45	114	152	40	102	58	951
Nagaland	0	110	34	234	490	124	80	102	63	167	19	1423
Sikkim	0	-	-	-	-	-	-	97	358	75	63	593
Tripura	0	40	58	255	306	16	460	355	102	1218	0	2810
Total	682	1923	2798	3495	8324	6304	6364	8970	8932	13132	4356	60924

* upto Aug' 06

State-wise Disbursements (Rs in Lakh)

State	1996 -97	1997 -98	1998 -99	1999 -00	2000 -01	2001 -'02	2002 -'03	2003 -'04	2004 -'05	2005 -'06	2006 -'07	Total
Arunachal  Pradesh	0	9	24	150	206	397	246	341	778	610	237	2761
Assam	615	227	1062	932	3360	2472	2170	2964	2285	5342	2517	21429
Manipur	0	39	31	153	285	152	68	70	105	50	4	953
Meghalaya	0	-	4	62	618	1467	2404	1349	1542	3199	492	10645
Mizoram	0	-	25	30	60	192	87	96	85	70	8	645
Nagaland	0	80	34	41	323	259	97	175	152	32	96	1193
Sikkim	0	-	-	-	-	-	-	14	88	128	68	230
Tripura	0	0	37	95	194	140	38	200	200	1000	4	1904
Total	615	355	1217	1463	5046	5079	5110	5209	5235	10431	3426	39760

* upto Aug' 06

No. of Projects Sanctioned (As on date)

State	1996 -97	1997 -98	1998 -99	1999 -00	2000 -01	2001 -'02	2002 -'03	2003 -'04	2004 -'05	2005 -'06	2006 -'07*	Total
Arunachal  Pradesh	0	2	2	1	4	4	10	11	21	37	18	110
Assam	2	12	13	25	37	49	69	91	129	110	35	572
Manipur	0	2	4	12	20	7	9	8	10	8	3	83
Meghalaya	0	0	2	3	7	12	20	19	19	16	3	101
Mizoram	0	1	3	5	12	3	7	48	5	45	10	139
Nagaland	0	1	3	12	19	9	11	8	9	8	9	89
Sikkim	0	0	0	0	0	0	0	12	36	23	14	85
Tripura	0	1	1	2	2	2	5	7	9	38	0	67
Total	2	19	28	60	101	86	131	204	238	285	92	1246

* upto Aug' 06

Assam Financial Corporation

Bittiya Bhawan, Paltan Bazar, Guwahati

Assam Financial Corporation, the premier financial institution engaged in promotion of small and medium scale industries in the region was established under the state Financial Corporation’s Act, 1951 by the Govt. of Assam vide Notification No. FTC.55/51/188 dated 19th April, 1954 with the objective of providing medium and long term credit to industrial concerns in Assam. Initially, the area of operation of the corporation was confined to the territorial limits of the then undivided Assam (including the present State of Meghalaya). On 15th March, 1960 the Corporation extended its jurisdiction to the Union Territory of Tripura and on 1st April, 1963 further to the Union Territory of Manipur after entering into agreement/ Tripartite Agreement with these two territories. At present the jurisdiction of the Corporation extends to Assam, Meghalaya, Manipur and Tripura.

State-wise Sanction and Disbursement of Loans during last 3 Years

State	Year	Number of Projects sanctioned	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
			Sanctioned	Disbursed
Assam	1993-1994	165	537.26	460.39
	1994-1995	93	515.07	442.11
	1995-1996	74	289.46	330.77
	1996-1997	42	154.91	218.07
	1997-1998	43	391.82	190.67
	1999-2000	54	333.92	-
	2000-2001	96	537.84	-
	2001-2002	63	116.59	152.02
	2002-2003	19	55.15	84
	2003-2004	-	-	51
	2004-2005	7	132.85	14
	2005-2006	6	87.50	49.74
	2006-2007	47	425.75	179.40
	2007-2008	53	528.40	455.94
Meghalaya	1993-1994	-	-	2.20
	1994-1995	1	10.00	9.96
	1995-1996	1	-	1.00
	1996-1997	-	-	2.99
	1997-1998	-	-	6.09
	1999-2000	3	6.10	-
	2000-2001	4	10.70	-
	2001-2002	-	-	4
	2002-2003	2	2.15	1
	2003-2004	-	-	1
	2004-2005	-	-	0
	2005-2006	-	-	0
	2006-2007	-	-	0
	2007-2008	-	-	0
Manipur	1993-1994	-	-	0.60
	1994-1995	4	24.07	8.08
	1995-1996	-	-	6.33
	1996-1997	-	-	-
	1997-1998	-	-	10.38
	1999-2000	5	21.83	-
	2000-2001	13	61.10	-
	2001-2002	-	-	6
	2002-2003	-	-	2
	2003-2004	-	-	0
	2004-2005	-	-	0
	2005-2006	-	-	0
	2006-2007	-	-	0
	2007-2008	-	-	0
Tripura	1993-1994	-	-	3.02
	1994-1995	5	36.43	8.59
	1995-1996	-	10.00	27.78
	1996-1997	-	-	-
	1997-1998	1	4.80	-
	1999-2000	2	14.10	-
	2000-2001	4	5.70	-
	2001-2002	4	3.95	6
	2002-2003	-	-	3
	2003-2004	-	-	0
	2004-2005	-	-	0
	2005-2006	-	-	0
	2006-2007	2	17.00	0
	2007-2008	5	18.00	18.54
Total	1993-1994	165	537.26	466.21
	1994-1995	103	585.57	468.74
	1995-1996	75	299.46	365.88
	1996-1997	42	154.91	221.06
	1997-1998	44	396.62	207.14
	1999-2000	64	375.95	-
	2000-2001	117	615.34	-
	2001-2002	67	120.54	168
	2002-2003	21	57.30	90
	2003-2004	-	-	52
	2004-2005	7	132.85	14
	2005-2006	6	87.50	49.74
	2006-2007	49	442.75	179.40
	2007-2008	58	546.40	474.48

Data source : Annual Report of Assam Financial Corporation

Industrial Credit and Investment Corporation of India (ICICI)

State	Year	Assistance Sanctioned & Disbursed (Rs. in Lakh)
		Sanctioned	Disbursed
Assam	1992-93	60.4	11.7
	1993-94	25.5	30.9
	1994-95	55.2	17.9
	1995-96	339.6	29.3
	1996-97	67.3	97.1
	1997-98	20.0	19.2

Data source : ICICI, Guwahati

Industrial Development Bank of India (IDBI)

Regional Office, IDBI Building, G.S. Road, Guwahati – 781005

State	Year	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
		Sanctioned	Disbursed
Arunachal Pradesh	1993-94	----	0.2
	1994-95	2.3	1.7
	1995-96	1.6	0.4
	1996-97	----	----
	1997-98	5.1	0.1
Assam	1993-94	26.0	16.0
	1994-95	31.2	26.6
	1995-96	70.5	43.8
	1996-97	16.8	25.3
	1997-98	14.6	14.7
Meghalaya	1993-94	----	----
	1994-95	3.4	2.4
	1995-96	----	----
	1996-97	----	----
	1997-98	----	----
Nagaland	1993-94	----	----
	1994-95	0.1	0.1
	1995-96	----	1.1
	1996-97	0.1	0.2
	1997-98	----	----
Tripura	1993-94	0.1	0.1
	1994-95	----	----
	1995-96	----	----
	1996-97	----	----
	1997-98	----	----

Data source : IDBI, Guwahati

Industrial Finance Corporation of India (IFCI)

G.S. Road, Near Ganeshguri, Guwahati, PIN-781005

 

State	Year	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
		Sanctioned	Disbursed
Arunachal Pradesh	1992-93	-	-
	1993-94	-	-
	1994-95	-	-
	1995-96	-	-
	1996-97	8.6	-
	1997-98	27.5	2.5
Assam	1992-93	-	14.0
	1993-94	-	18.1
	1994-95	10.4	8.5
	1995-96	116.0	15.2
	1996-97	-	107.5
	1997-98	31.3	37.7

Data source : IFCI, Guwahati

Industrial Investment Bank of India Ltd. (IIBI)

Industrial Investment Bank of India Ltd. (IIBI) was established on March 27,1997 by converting Industrial Reconstruction Bank of India. There exits a provision for dilution of Government share holding upto 51%. IIBI’s resources comprises

· Share Capital

· Reserves

· Internal Generation

· Borrowing from the Government of India

· Long term credit from Reserve Bank of India

· Market Borrowing by way of Bonds

IIBI can assist industry through a wide range of financial products and services. It responds to various needs with a variety of fund based and non-fund based activities.

National Co-operative Development Corporation

Regional Directorate (NE), Bora Service Station Building,

G.S. Road, Ulubari, Guwahati-781007, Fax:0361-544427,

Ph. no.:526327, E-mail : ncdcghy@asm.nic.in

The National Co-operative Development Corporation established in 1963 under an Act of Parliament, has been promoting and financing a wide range of economic activities in rural areas through co-operatives. The Corporation is a unique institution in the country catering to the development of the rural economy and agriculture sector through co-operatives. There is no other institution in the country which is exclusively for meeting the requirement of co-operatives.

State	Year	Number of Projects Sanctioned	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
			Sanctioned	Disbursed
Assam	1996-97	4	3.62	50.214
	1997-98	1	173.792	173.792
	1998-99	2	10.940	131.270
	1999-2000	6	2589.75	604.160
	2000-01	-	-	1.052
Meghalaya	1996-97	1	0.558	8.427
	1997-98	-	-	1.603
	1998-99	1	2.280	-
	1999-2000	2	1604.870	360.860
	2000-01	1	3.00	1.14
Arunachal Pradesh	1996-97	-	-	-
	1997-98	1	4.450	20.947
	1998-99	8	46.680	13.9075
	1999-2000	1	5.833	24.451
	2000-01	1	6.194	1.11250
Manipur	1996-97	152	256.215	116.842
	1997-98	32	144.662	23.887
	1998-99	165	262.510	264.211
	1999-2000	13	64.825	5.98
	2000-01	1	6.517	6.91
Mizoram	1996-97	-	-	318.132
	1997-98	2	413.304	212.360
	1998-99	7	16.50	209.1215
	1999-2000	1	1.50	131.801
	2000-01	7	39.255	-
Nagaland	1996-97	58	159.633	205.72
	1997-98	75	346.947	270.036
	1998-99	227	934.127	847.548
	1999-2000	44	807.306	342.717
	2000-01	-	-	189.73
Tripura	1996-97	39	64.214	10.451
	1997-98	11	8.00	16.827
	1998-99	1	1.099	16.929
	1999-2000	-	-	6.955
	2000-01	-	-	41.64
Total	1996-97	254	484.24	709.786
	1997-98	122	1091.155	719.452
	1998-99	411	1274.136	1482.987
	1999-2000	67	4534.084	1476.924
	2000-01	10	54.966	241.5845

Data source : National Co-operative Development Corporation, Guwahati

National Small Industries Corporation Limited

NSIC (North Eastern Region), D.S. Mansion,

R.G. Barua Road, Near State Zoo, Guwahati-781024

Branch Office : Near Raghu Saw Mill, Uripok, Leikei, Imphal, PIN-791005

The National Small Industries Corporation Ltd., was set up by Govt. of India to promote and faster the growth of small industries in 1955. The corporation during its 40 years of operation had provided support to small scale industries in several areas such as finance, export, supply of raw materials, technical training, development of prototypes of machine and equipment, technology upgradation , marketing assistance etc.

State	Year	Number of Projects sanctioned	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
			Sanctioned	Disbursed
Assam	1996-97	40	51.21	51.21
	1997-98	52	48.04	48.04
	1999-2000	11	174.96	174.96
	2000-01(First three quarters)	14	87.64	87.64
Manipur	1996-97	7	3.14	3.14
	1997-98	8	4.43	4.43
	1999-2000	1	2.45	2.45
	2000-01(First three quarters)	1	4.39	4.39
Total NE	1996-97	50	59.88	59.88
	1997-98	63	57.59	57.59
	1999-2000	12	177.41	177.41
	2000-01(First three quarters)	15	92.03	92.03

Data source : NSIC, Guwahati

Meghalaya Industrial Development Corporation Limited :

Registered Office : 'Kismat', Upland Road, Laitumkhrah, Shillong, PIN-793003

Branch Office : i) Iawmusiang, Jowai, Jaintia Hills District,

                       ii) Balading, Near Chabhighar Cinema, Tura, PIN-794001, West Garo Hills District

The Meghalaya Industrial Development Corporation Ltd. (MIDC) was incorporated on 6th April, 1972 under the Companies Act, 1956. It is a Govt. of Meghalaya Company and all the shares are being held by the Government. The MIDC performs the role of both the State Industrial Development Corporation and the State Financial Corporation.

MIDC also promote wholly owned subsidiary companies- The Meghalaya Watches Limited, The Meghalaya Electronic Development Corporation Ltd. and the Meghalaya Bamboo Chips Ltd.

The main functions are (a) Providing financial Assistance under the various schemes of SIDBI (b) Equity participation on the Share Capital of Industrial Projects (c) Preparation of Project Report on Mineral based & Agro. based Industries.

State	Year	Number of Projects sanctioned	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
			Sanctioned	Disbursed
Meghalaya	1996-97	74	945.71	478.94
	1997-98	41	182.95	288.71
	1998-99	53	425.71	182.29
	1999-2000	158	914.03	484.21
	2000-01	65	593.41	430.16

Data source : MIDC Ltd., Shillong

Small Industries Development Bank of India (SIDBI)

Regional Office, IDBI Building, G.S. Road, Guwahati – 781005

Small Industries Development Bank of India was set up by an Act of Parliament, as an apex institution for promotion, financing and development of industries in the small scale sector and for co-ordinating the functions of other institutions engaged in similar activities.

SIDBI’s main purveyor in term financing to the small scale sector in the country. Small scale industrial units, artisans, village and cottage industrial units in the tiny sector, financial assistance is given mainly by way of refinance, through primary lending and institutions

All projects in the SSI units normally eligible for assistance. The minimum promoters contribution prescribed under the schemes generally varies between 10% - 28%.

State	Year	Assistance Sanctioned & Disbursed (Rs. in Lakhs)
		Sanctioned	Disbursed
Arunachal Pradesh	1997-98	148	167
	1998-99	149	147
	1999-2000	146	148
Assam	1997-98	1734	1006
	1998-99	819	965
	1999-2000	1331	1307
Manipur	1997-98	253	242
	1998-99	369	68
	1999-2000	479	418
Meghalaya	1997-98	500	656
	1998-99	507	294
	1999-2000	443	402
Mizoram	1997-98	70	70
	1998-99	98	98
	1999-2000	106	100
Nagaland	1997-98	154	152
	1998-99	146	142
	1999-2000	148	148
Tripura	1997-98	407	383
	1998-99	399	380
	1999-2000	501	510
Total NE	1997-98	3266	2676
	1998-99	2487	2094
	1999-2000	3154	3033

Data source : SIDBI, Guwahati