Tourism Finance Corporation of India
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TOURISM FINANCE CORPORATION OF INDIA LTD. Yunus Committee set up in 1988, under the aegis of Planning Commission recommended the need of an All-India Financial Institution for providing financial assistance to tourism sector in the country. In accordance with the above recommendation, IFCI Limited, other All-India Financial Institutions, Investment Institutions and nationalised Banks promoted a public limited company under the name of “Tourism Finance Corporation of India Ltd (TFCI)” to function as a specialised All-India Financial Institution to cater to the financial needs of the tourism industry. The Government of India had, pursuant to the recommendations of the National Committee on Tourism viz Yunus Committee set up under the aegis of Planning Commission, decided in 1988, to promote a separate All-India Financial Institution for providing financial assistance to tourism-related activities/projects. In accordance with the above decision, the IFCI Ltd. along with other All-India Financial/Investment Institutions and Nationalised Banks promoted a Public Limited Company under the name of "Tourism Finance Corporation of India Ltd. (TFCI)" to function as a specialised All-India Development Financial Institution to cater to the financial needs of tourism industry. TFCI was incorporated as a Public Limited Company under the Companies Act, 1956 on 27th January 1989 and became operational with effect from 1st February 1989 on receipt of Certificate of the Commencement of Business from the Registrar of Companies. TFCI has been notified as a Public Financial Institution under section 4A of the Companies Act, 1956, vide Notification No S.O 7(E) dated the 3rd January 1990 issued by the Ministry of Industry, Department of Company Affairs. TFCI's Registered office is situated at 13th Floor, IFCI Tower, 61, Nehru Place, New Delhi - 110 019. The share-holding pattern of TFCI is as follows; IFCI Ltd. 343.04 42.50 SBI 74.16 9.19 Bank of India 37.90 4.70 LIC 62.13 7.70 United India Insurance Co. Ltd. 11.98 1.48 The Oriental Insurance Co. Ltd. 10.42 1.29 Bodies Corporate 48.76 6.04 Mutual Fund .03 0.00 Other Banks/ Financial Institutions 2.25 0.28 Foreign Institutional Investor 1.95 0.24 Trust 0.21 0.03 NRI 4.08 0.51 General Public 210.24 26.05
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Tourism Financial Corporation of India, is the financial governing body of India in tourism industry. Established in 1988 under company act, 1956 it is the sole financial body working in development of tourism sector.
Transcript of Tourism Finance Corporation of India
TOURISM FINANCE CORPORATION OF INDIA LTD. Yunus Committee set up in 1988, under the aegis of Planning Commission recommended the need of an All-India Financial Institution for providing financial assistance to tourism sector in the country. In accordance with the above recommendation, IFCI Limited, other All-India Financial Institutions, Investment Institutions and nationalised Banks promoted a public limited company under the name of “Tourism Finance Corporation of India Ltd (TFCI)” to function as a specialised All-India Financial Institution to cater to the financial needs of the tourism industry.
The Government of India had, pursuant to the recommendations of the National Committee on Tourism viz Yunus Committee set up under the aegis of Planning Commission, decided in 1988, to promote a separate All-India Financial Institution for providing financial assistance to tourism-related activities/projects. In accordance with the above decision, the IFCI Ltd. along with other All-India Financial/Investment Institutions and Nationalised Banks promoted a Public Limited Company under the name of "Tourism Finance Corporation of India Ltd. (TFCI)" to function as a specialised All-India Development Financial Institution to cater to the financial needs of tourism industry. TFCI was incorporated as a Public Limited Company under the Companies Act, 1956 on 27th January 1989 and became operational with effect from 1st February 1989 on receipt of Certificate of the Commencement of Business from the Registrar of Companies. TFCI has been notified as a Public Financial Institution under section 4A of the Companies Act, 1956, vide Notification No S.O 7(E) dated the 3rd January 1990 issued by the Ministry of Industry, Department of Company Affairs. TFCI's Registered office is situated at 13th Floor, IFCI Tower, 61, Nehru Place, New Delhi - 110 019. The share-holding pattern of TFCI is as follows;
IFCI Ltd. 343.04 42.50
SBI 74.16 9.19
Bank of India 37.90 4.70
LIC 62.13 7.70
United India Insurance Co. Ltd. 11.98 1.48
The Oriental Insurance Co. Ltd. 10.42 1.29
Bodies Corporate 48.76 6.04
Mutual Fund .03 0.00
Other Banks/ Financial Institutions 2.25 0.28
Foreign Institutional Investor 1.95 0.24
Trust 0.21 0.03
NRI 4.08 0.51
General Public 210.24 26.05
AIMS AND OBJECTIVES :
Catalyse and channelise investments into various segments of the tourism industry and across
various locations in a need based manner.
Take steps to promote the tourism industry within the overall framework of the Govt. of India
policy.
TFCI provides financial assistance to enterprises for setting up and/or development of tourism-
related projects, facilities and services, such as:
Hotels
Restaurants
Holiday Resorts
Amusement Parks
Multiplexes and Entertainment Centers
Education and Sports
Safari Parks
Rope-ways
Cultural Centers
Convention Halls
Transport
Travel and Tour Operating Agencies
Air Service
Tourism Emporia
Sports Facilities etc.
FUNCTIONS
Rupee Loan
Underwriting of public issues of shares/debentures and direct subscription to such securities
Guarantee of deferred payments and credit raised abroad.
Equipment Finance
Equipment Leasing
Assistance under Suppliers' Credit
Working-Capital Financing
Takeover Financing
Advances Against Credit-Card Receivables
