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Introduction

The Directorate of Institutional Finance was established as a Cell under the General Administration Department in November 1976. Later, this Cell was transferred to the Finance Department in December, 1977. The main responsibilities entrusted to this Directorate was illustrated in the G.A.D.'s letter No. 7267/33/VI/DIF/76 Bhopal dated dated 24 November 1976 (listed below). The Directorate of Institutional Finance has since been declared as Head of the Department.
     
 The Directorate functions at two levels - (i) Secretariat and (ii) Head of the Department. The functions at the Head of the Department is mainly relate to the formulation of projects and arrangement of institutional finance for projects concerning various departments, boards, corporations of the State Government and to coordinate activities of respective committees, projects, monitoring, etc. received from various departments/ financial institutions and follow up action, implementation of Acts and rules.

The functions at Secretariat level are mainly relate to coordination with various Government Departments, Corporations, Boards, Financial Institutions, Reserve Bank of India, Government of India and matter relating to Legislation, policy matters at the State level.

Role of DIFMP

  • Monitoring role for ensuring adequate flow of institutional credit in several government sponsored programmes.
  •  Promotional role to maximize institutional credit for development activities in the State.
  • Intermediary role to coordinate with banks/ financial institutions and coordinate to resolve issues between governmental agencies and banks.
  • To enhance for creating role on Project Management and Coordination for externally aided projects as well as to provide general project preparation/ planning support to concerned departments and agencies.
  • Preparation and release of yearly State Credit Plan for government sponsored employment oriented schemes under poverty alleviation programme. The objective to prepare State Credit Plan is to dovetail government plans with bankers plan thereby to assist district level functionaries to formulate their district credit plans.
  •  To facilitate Public Private Partnership Projects in the State.
  • To coordinate and monitor insurance schemes implemented by various departments of the State Government.


Government order regarding establishment of the Directorate

GOVERNMENT OF MADHYA PRADESH

GENERAL ADMINISTRATION DEPARTMENT

(Institutional Finance Cell)

 

No.7267/33/VI/DIF/76                                                                      Bhopal dated the 24th November, 1976

 

To 

        1. The Chief General Manager/ Regional Manager/ Zonal Manager (All Commercial Banks)

        2. Chairman, Regional Rural Bank (Hoshangabad, Bilaspur, Rewa)

 

Sub : Directorate of Institutional Finance. 

 

           A Directorate of Institutional Finance has been established by the State Government in the General Administration Department. Shri S.C. Jain was as the Director. The responsibilities entrusted to  this Directorate are as under :

 

  1. Coordination of credit from financing institutions;
  2. Expansion of the banking activities;
  3. Removal of handicaps in the working of the commercial banks and affording all possible facilities to them in the implementation of their schemes for agriculture/ industries/ education/ community betterment etc. 
  4. Lead Bank Schemes - State & District level coordination committee;
  5. Regional consultative committee;
  6. District Credit Plans
  7. Regional Rural Banks; 
  8. Banking plans;
  9. Maintenance of statistics of financing by the financing institutions

 

             The banks should now find it convenient to refer their problems which they might face in implementing their developmental schemes to the aforesaid Directorate which will also function as a common contact point between the financing institutions and the governmental departments.