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Achievements

Working /Achievements of J&K SFC
Beset with many constraints, the challenging role for the Corporation was to accelerate the Industrial growth of a predominately under developed agro-economy of the border State of Jammu and Kashmir. Even though there was a wider role envisaged for the SFCs to perform, the JK SFC, however, could take up only the lending assignment. The Corporation played a significant role in development of 1st generation entrepreneurs and in catalyzing the growth of the State. Challenges on ground were many, fraught with grave risks.SFC had to take lead in the funding arrangement. Motivating a new class of entrepreneurs, to invest in a set up where market was under developed, flow of raw material uncertain and necessary infrastructure practically missing. Being a development bank, it assumed this lead role to facilitate employment of resources and thereby creating opportunities for manpower employment and thus setting in motion the wheel of economic growth of the State. The commendable performance of the Corporation can be gauged from its achievement which is given as under:-
(Rs.in crore)

Upto 1989-90

Upto 2013-14

No.

Amt

No.

Amt

Sanctions

13696

253.41

22207

537.55

Disbursements

13182

194.60

22080

465.74

Performance upto 1989-90
The portfolio of lendings as on 1989-90 was as under:-
(Rs.in crores)

During the Year

Cumulative

Sector

No.of cases

Amt. sanctioned

Amt. disbursed

Amt. Received

Amt. sanctioned

Amt. disbursed

Industries

657

14.91

14.63


226.19

166.10

Tourism

19

2.92

2.45


42.42

30.11

Transport

826

17.61

15.08


258.56

242.99

Total

1502

35.47

32.16

21.12

527.17

439.20


Gross Annual profit as on 31.03.1990 was Rs.0.62 crore

Since its inception, the Corporation provided financial assistance of Rs. 410.22 crore to ‘21012’ entrepreneurs in all Sectors many of whom proved to be good success stories. It may be worthwhile to mention that almost all the big business houses in the State namely M/s Khyber, M/s Tramboos, M/s Saifco, M/s Mushtaq Chaya,M/s K.C. Group, M/s Trehan Family, M/s Shauria Group, M/s Ansari Motors, M/s Electric Field Lamp, M/s Dubey Family, M/s Lal Chand Roshan Lal & Sons to name a few, owe their take off to the initial assistance from the Corporation who are now the major employers and contributors to the State economy. The Corporation, during the pre-1990 era, maintained its growth rate and fulfilled its commitments towards creditors on regular basis. The Sanction/Disbursement portfolios kept on increasing, the cash generations were comfortable and the Corporation was running in net profit after payment of tax. Based on its performance, the Corporation was rated one among the best ten SFCs of the Country by IDBI. The Corporation was doing well on the recovery front upto the year 1989-90 and had also substantial plans as the main term lending institution of the State, to assist the State to usher into a sustainable Industrial economy. However then came the catastrophe with the onset of turbulent conditions in the State.