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Karnataka State Financial Corporation (KSFC) is a State level Financial Institution established by the State Government in the year 1959 under the State Financial Corporations’ Act 1951 to cater to the long-term and short term financial needs of small and medium enterprises (SMEs) in the State of Karnataka.

 

KSFC began by sanctioning Rs.28 lakhs to 11 projects in the year 1959, its first year of operation. In the last 61 years of existence, KSFC has contributed most significantly for the growth of SSIs, development of backward area and promotion of first generation entrepreneurs. KSFC has assisted more than 1,74,000 units with cumulative sanctions of over Rs.17,880 crore out of which more than 50% is towards SSIs indicating the major role in industrial development of the state. Global giants like INFOSYS,BIOCON, MTR Foods, BPL India Limited, Sansera Engineering, Reva Electric Cars, 24/7Customers.com, Ace Designers Ltd,  and many others started their ventures with assistance of KSFC when they were start ups.

 

In the last 61 years of existence, KSFC has contributed most significantly for the growth of SSIs, development of backward area and promotion of first generation entrepreneurs. Its achievement in these areas is unparallel. Since inception, KSFC has assisted more than     1, 74,000 units with cumulative sanctions of over Rs.17,880 crore out of which more than 50% is towards SSIs indicating the major role in industrial development of the state. Assistance to first generation entrepreneurs stood at Rs.7679 crore (42%) to 87129 units. The flow of assistance to backward areas stood at Rs. 6665 crore (37%) to 81216 units.

The Corporation is acting as the catalyst of industrial development in the state of Karnataka for various schemes of Government of Karnataka.

 

Last Updated: 29-01-2021 04:37 PM Updated By: Approver


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