Extending broad-based financial services of highest quality with a view to facilitate industrial investment in Uttar Pradesh has been the area of primary focus for PICUP.
Right from Project identification to Preparation of Feasibility Report from extending Term Loans to Equity Participation PICUP has grown big indeed to be a vibrant industrial development organisation.
PICUP offers a vast spectrum of financial assistance and services for setting up new medium and large scale industries as well as modernisation, expansion and diversification of existing units through a comprehensive range of schemes detailed below :
PICUP is providing secured term loans at nationally competitive rates of interest in accordance with the following lines :
Equipment Refinance Scheme
Under this scheme, PICUP extends loans to existing industrial units for the purpose of purchasing new capital goods/equipments. Such loans cover 75% of equipment (the balance to be financed by the borrowers and are available only to those companies which :
The Corporation shall undertake the discounting of trade bills with or without letter of commitment, which may consist of either purchase bill or a sale bill for genuine trade transaction related to the company’s business with excellent track record in the portfolio of PICUP, subject to following conditions :
To provide encouragement to Textile Industry (non-SSI sector) for taking up Technology Upgradation and to modernise their product facilities the Scheme envisages interest incentive of 5% on the interest rate actually charged on the sanctioned term loans extended for technology upgradation and modernisation.
Following categories of units would be eligible for assistance under the scheme :-
Venture Capital Scheme for IT Projects
To encourage small/medium scale units utilising innovative technology Venture Capital Assistance to be provided to the extent of Rs.15.00 lakhs to single promoter and Rs.25.00 lakhs, if there are more than one promoter (not to exceed 50% of promoters’ contribution).
Film Financing from Film Development Fund
Government of U.P. has formulated a “Film Policy - 1999”, which is aimed to develop U.P. as the most preferred destination for film production, due to the rich and exotic natural beauty, history and culture and tourist potential of the State.
In order to develop this economic activity Government of U.P. has evolved a strategy which includes extending support for creation/upgradation of infrastructure, filling up of critical gaps, adequate administrative support, attractive package of financial incentives, innovative method of financial support and impetus to NGOs involved in propagation and appreciation of cinema. Govt. of U.P. has appointed PICUP to play an active role in promotion of this industry in the state, which involves the following specific responsibilities.
role in Development of Infrastructure for Film Industry.
In order to finance various schemes for development of films and film related infrastructrue Government of U.P. has constituted a Film Development Fund which will be placed in PICUP and shall be managed by a Committee of Senior Govt. officials for financing of Films, TV Serials, Cinema Houses, Multiplexes, Studios, Processing Labs, Film Distribution etc.
Interest Rate Structure
rates on the present schemes of the Corporation are as under :
The above interest rates shall be exclusive of the applicable intererst tax, if any.
Information Technology Sector
PICUP has taken a major step in formulating a financing scheme tailored to promote Information Technology Sector in the State of Uttar Pradesh. It broadly outlines the following features :
was hitherto extending financial assistance to medium and large scale industrial
projects only in the State of U.P. has been authorised by IDBI to finance
infrastructure projects with a cap of Rs.5.00 crores for individual projects
costing upto Rs.20.00 crores. Accordingly PICUP has decided to foray into