Publication under section 4[1] [b] of the
Right to Information Act, 2005
[i] West Bengal Financial Corporation [WBFC] is a state level
developmental financial institution set up under the State Financial
Corporations Act, 1951 [SFCs Act] for providing term loans to micro, small
and medium enterprises for setting up industrial and service sector units
in the state of West Bengal.
Having its head office in
the 3rd and the 4th floors of 12A
[ii] The broad powers for sanctioning of loans are as under:
|
Designation |
Sanctioning power in Rs. lakh |
|
Deputy Manager |
2.00 |
|
Manager |
4.00 |
|
Chief Manager |
6.00 |
|
Deputy General Manager |
7.00 |
|
General Manager |
10.00 |
|
Managing Director |
75.00 |
|
Executive Committee |
300.00 |
|
Board |
Above
300.00 |
The general
superintendence, direction and management of affairs and business of WBFC are
vested upon a Board of Directors [BOD] constituted in terms of section 9 of the
SFCs Act. There is an Executive Committee constituted by the BOD in terms of
section 18 of the SFCs Act and other committees constituted under section 21 of
the SFCs Act, for discharging the functions as have been prescribed / delegated
by the BOD for the purpose of assisting it in the efficient discharge of its
functions.
The Managing Director,
appointed by the State Government, is a whole-time officer of WBFC and performs
such duties as the BOD, by regulations, entrusts or delegates to him.
The loan proposals are
processed by the members of the staff of the Operations & Accounts Department,
headed by a General Manager. The General Manager [Administration, Audit
& Branch coordination] looks after the departments mentioned. The Monitoring
Department, headed also by a General Manager, looks after the release of
loan funds and the related issues and the members of the staff of the Recovery
Department, also headed by a General Manager, are entrusted to look after
the recovery related matters. The Secretary looks after the corporate affairs
and is also the State Public Information Officer of this public
authority.
[iii] Any proposal after being processed by the front-office
officials of the department concerned is placed before his/her superior for
consideration and approval who, in turn, either approves/declines the same,
should it be within his/her powers, or sends it with his/her views to his/her
superior. The final disposal comes either from the Managing Director /
Executive Committee / BOD depending on their respective authority.
[iv] WBFC, apart from being principally governed by the provisos of
the SFCs Act, follows various norms/statutes/guidelines set from time to time
by the Small Industries Development Bank of India [SIDBI], the State
Government, the RBI, the Industrial Development Bank of India [IDBI] and other
government agencies - both in the State as also at the Centre.
[v] Principally
governed by the provisos of the SFCs Act, and guided by the directives
emanating from SIDBI, the State Government, RBI, IDBI and other government
agencies, WBFC issues Office Orders / Office Circulars containing rules,
regulations, instructions, manuals etc., from time to time, for use by its
employees in discharging their functions and duties. There is a lending policy
containing the broad criteria for sanctioning the loan proposals, OTS
guidelines for considering compromise settlement proposals from the borrowers,
WBFC General Regulations, 2003 to deal with the corporate and other related affairs
of the Corporation and WBFC [Staff] Regulations to deal with the staff matters.
[vi] MOUs entered upon by
WBFC with different organizations are held by the Corporation.
[vii] There is no such arrangement as of now for
consultation with or representation by the members of the public in relation to
the formulation of the policies or implementation thereof of the Corporation,
save and except representation of shareholders in the BOD in terms of section
4[3][d] of SFCs Act.
[viii] The Corporation has a BOD, an Executive Committee
and a Default Review Committee and the meetings of these bodies are not open to
the public nor are the minutes distributed to the general public.
[ix] A directory of the officers and the employees of the Corporation
is available in this site containing their basic salary per month as on
[x] Please refer to serial number ix above.
[xi] The Corporation has not yet appointed any agency.
[xii] The Corporation does not have any subsidy
programme of its own but releases, if directed by the governments, government
subsidies through it to the eligible beneficiaries.
[xiii] No such activity of granting concessions,
permits etc. are carried out by WBFC.
[xiv] Almost all the key information, statistics,
accounts, management information system etc. involving the operations of WBFC
are available in electronic form. In addition, it has the website www.wbfconline.org accessible to the general public.
[xv] The information under the RTI Act, 2005 are available to the
general public through the State Public Information Officer of WBFC, Sri Probal
Dasgupta, located at the head office of the Corporation. The Corporation has
got no library or reading room as yet.
[xvi] Sri Probal Dasgupta, has been
designated as the State Public Information Officer of WBFC under the RTI
Act, 2005 having his office in the 4th floor of 12A NS Road,
Kolkata 700 001 and may be contacted [(033) 2230 3749], during the
usual office hours, preferably with prior appointment.