The industrial set up of the State of Jammu & Kashmir was badly affected by the turmoil through which the State passed since 1990. With the establishment of popular Govt. in the State in 1996, need was badly felt to reactivate the industrial set up of the State and to bring it back on rails. The State Govt. took up the matter with GOI to formulate a package of industrial incentives on the lines of North Eastern States. It was impressed upon the GOI that a comprehensive policy needs to be worked out which, besides developing the necessary industrial infrastructure, shall also include a package of incentives for the existing as well as the new entrepreneurs willing to invest in the State. The GOI came up with a comprehensive industrial policy and package of concessions for the State of Jammu and Kashmir vide Office Memorandum No.1 (13)/2000-NER,dated 14th June 2002 issued by Ministry of Commerce & Industry, Department of Industrial Policy & Promotion, GOI pursuant to the decision of Central cabinet. The policy memorandum envisaged:-

Fiscal incentives to new industrial units and substantial expansion of the existing units; Development of Industrial Infrastructure; Other incentives; Setting up of J&K Development Finance Corporation Ltd.

As a step towards implementation of the Industrial package/policy of 2002 announced by the Government of India for the State of Jammu and Kashmir, the J&K Development Finance Corporation Ltd. was incorporated on 30th May, 2005 with an Authorized Capital of Rs.100 crore. The Corporation was granted the Certificate for Commencement of Business by the Registrar of Companies, J&K on 28th July, 2005.

• Our Mission
• Organisation Structure
• Achievements & Impact

Objective

To Carry on and transact the business of providing credit facilities & other Infrastructural support for promotion, expansion & modernization of industrial enterprises, tourism industry, small road transport operators for passenger & cargo transportation & equipment financing to industrial enterprises construction companies, contractors & diagnostic centre & providing financial assistance for setting up of Mini & Small Hydro projects in order to accelerate industrial & tourism for development, employment generation & faster economic growth in the State of Jammu & Kashmir in general & in particular by:

• Granting financial assistance in the form of Loans or advances including by way of working capital, refinance, discounting or rediscounting of bills of exchange or promissory notes, subscription to debentures and leasing in any form/scheme as may be deemed expedient
• Guaranteeing loans and obligation, deferred payment credits & performance of contracts
• Subscribing to and/or underwriting the issue of shares and securities
• Granting, opening, issuing, confirming or endorsing letters of credit and negotiating or collecting bills and other documents drawn there under
• Providing consultancy and merchant banking services
• Encouraging and promoting the participation of private capital, both internal and external
• Providing marketing and research facilities
• To act as the Nodal Agency for routing the subsidies and incentives under various schemes notified under industrial policies and other concessions for the State of Jammu & Kashmir announced from time to time. Besides acting as nodal agency for Government of India Incentives, the corporation, in the first instance shall grant financial assistance by way of Term Loans & Working Capital Demand Loan only.

Shareholding Pattern of JKDFC

Shareholding pattern of the Company and the status of share-money released by the promoter-shareholders as on 31-03-2012 is given as under