GUWAHATI, April 20 - Assam Financial Corporation (AFC) observed its 65th foundation day at its head office premises located at Vittiya Bhawan, Paltanbazar, Guwahati and its branch offices at Jorhat, Dibrugarh, Tinsukia, North Lakhimpur, Tezpur, Nagaon, Nalbari, Bongaigaon, Silchar and Agartala on Thursday, stated a press release.
At its head office the programme started with the lighting of the lamp by Vijay Kumar Gupta, Chairman of the corporation followed by oath-taking by the employees. At the outset, GP Gupta, Deputy General Manager spoke about the performance of the corporation during the last financial year and stated that the corporation has been able to improve its performance in all the key portfolios like sanction, disbursement and recovery over the previous financial year.
Vijay Kumar Gupta, Chairman of the corporation talked about the historical achievements of Assam Financial Corporation during the last 64 years towards industrial development of the North-east region and congratulated each employee for their significant contribution for industrial development of the region. The Chairman urged the employees to contribute their best so that the corporation could achieve its annual targets of sanction, disbursement and recovery of loans. He also urged the employees to work dedicatedly so that the corporation becomes the number one public sector enterprise of the State. He expressed his gratitude to the Government of Assam for providing continuous support to the AFC by virtue of which AFC has been able to contribute to accelerate the socio-economic development of the State by promoting entrepreneurship and growth of the MSME and other development sectors like micro finance providing livelihood support to poor women.
GP Gupta, Deputy General Manager of the corporation, thanked all the employees of the corporation for their dedicated service for maintaining continuous growth in the sanction, disbursement and recovery performance of the corporation and requested all to be the driving force for the continuous success and growth of the corporation in the coming days. On the occasion, he reiterated commitment required for the holistic development of the corporation and expressed the hope that the corporation will be able to achieve it with the support of each employee and stakeholders, primarily from the government of Assam.
It may be mentioned here that the AFC with the active support from the government of Assam is playing a pivotal role as a premier term lending institution of Assam since commercial banks are still reluctant to provide term loans to first generation entrepreneurs. AFC has always come forward to assist the first generation entrepreneurs and has assisted more than 6700 enterprises in MSME and other potential sectors employing more than 1,50,000 unemployed youths so far. Today AFC shares the pride of being a premier Financial Institution (FI) dedicated to the cause of industrial and economic development of Assam.
Having established in early 1954, AFC was the second State financial corporation in the country. Mention may be made that a good number of outstanding entrepreneurs assisted by AFC have won award at the national level and have got recognition for their achievements towards industrialization and economic progress of the State. This year, four outstanding entrepreneurs assisted by AFC have won COSIDICI (Council of State Industrial Development and Investment Corporations of India) national award for their outstanding achievements and remarkable contribution made to the State at a function held at Panaji, Goa on March 3, 2018, the press release added.
In micro finance sector, starting operation in the year 2009, AFC has provided livelihood support to more than 30000 poor women beneficiaries all over the State so far. AFC has now made an ambitious plan to provide financial support to more than 50000 poor women beneficiaries across the State for various income generating activities for the livelihood support of their families under Budgetary support from the government of Assam.