GOVERNMENT
OF INDIA
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GOVERNMENT
OF INDIA
TIIC, established in 1949, is the first State level Development Financial Institution promoted for catalyzing industrial development. The Corporation had financed Greenfield projects, many of which are presently successful brands.
TIIC provides financial assistance for purchase of land, machinery and construction of buildings. The purpose could be for setting up new units / expansion / modernization / diversification of existing industries. Assistance is extended to both manufacturing and eligible service sector industries.
It focuses on extension of assistance to Micro, Small, and Medium enterprises, which account for 90% of the total assistance. Further about 40% of the total assistance is availed by first generation entrepreneurs.
The Corporation is guided by a Board of senior Bureaucrats, Banking Professionals and Sector representatives.
The Corporation has continuously earned profit for past 16 years. TIIC has so far assisted 1,23,544 units with a cumulative sanction of Rs.17,281 crores upto 31.03.2019.
Based on the data published in the Statistical Hand Book (SHB) -2018 by the Department of Economics and Statistics, Government of Tamil Nadu, the graph arrived, as shown below, clearly exhibits the various term loan sanctioned and disbursed during the Period from 2002-03 to 2016-2017.