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.