The State Financial Corporations have given assistance mainly to develop________.

The correct answer is Medium and small-scale industries.

Key Points

• State Financial Corporations
  • The State Financial Corporations Act was passed in 1951 which provides power to all the states and union territories to set up State Financial Corporations.
  • They are State Level financial institutions that play an important role in the growth of the small and medium enterprises in the concerned states.
  • They provide financial assistance by way of granting loans or advances or subscribing to debentures of industrial concerns or by underwriting the stocks, shares, bonds, and debentures.
  • At present, there are 18 State Financial Corporations in India.

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