(a)
guaranteeing, on such terms and conditions as maybe agreed upon.-
(i)
loans raised by industrial concerns which are repayable within a period
not exceeding twenty years, and are floated in the public market;
(ii)
loans raised by industrial concerns from scheduled banks or State co-operative
banks or others financial institutions;
(b) guaranteeing,
on such terms and conditions as maybe agreed upon, deferred payments due
from any industrial concern in connection with its purchase of capital
goods within India;
(c)
underwriting of the issue of stock, shares, bonds or debentures by industrial
concerns;
(d)
transferring for consideration any instruments relating to loans and advances
granted by it to industrial concerns;
(e)
acting as agent of the Central government of the State Government or the
Development Bank or the Small Industries Bank or the IFCI Limited formed
and registered under the Companies Act, 1956, or any other financial institution
notified in this behalf by the Central Government in respect of any matter
connected with, or arising out of, the grant of loans or advances to an
industrial concern, or subscription to debentures of an industrial concern
or relating to the business of the Development Bank, Small Industries bank,
IFCI Limited or financial institution;
(f)
subscribing to, or purchasing of, the stock, shares, bonds or debentures
of an industrial concern or any other concern;
(g)
retaining as part of its assets any stock, shares, bonds or debentures
which it may acquire by subscription or in fulfillment of its underwriting
liabilities and disposing of the stock, shares, bonds or debentures so
acquired;
(h)
granting loans or advances to, or subscribing to debentures of, an industrial
concern, repayable within a period not exceeding twenty years from the
date on which they are granted or subscribed to, as the case may be:
Provided
that the Financial Corporation may, with the prior approval of the Small
Industries Bank, exceed the said limit twenty years up to a further period
of ten years:
Provided
further that nothing contained in this clause shall be deemed to preclude
the Financial Corporation from granting loans or advances to, or subscribing
to debentures of, and industrial concern to which may be attached an option
to convert such debentures or loans into stock or shares of the industrial
concern:
Provided
also that the Financial Corporation may, in the exercise of such option,
convert the amounts outstanding on such debentures or loans into stock
or shares of the industrial concern if such concern increases its
subscribed capital by the issue of further stock or shares in accordance
with and subject to, the provisions of section 81 of the Companies Act,
1956.
Explanation.-
In this clause, the expression `the amounts outstanding on such debentures
or loans'' shall mean the principal, interest and other charges payable
on such debentures or loans as at the time when the amounts are sought
to be converted into stock or shares;
(i)
accepting or discounting promissory notes and bills of exchange made, drawn,
accepted or endorsed by industrial concerns or by any person selling capital
goods manufactured by one industrial concern to another industrial concern;
(j)
undertaking research and surveys for evaluating or dealing with marketing
or investments or undertaking and carrying on techno-economic studies or
other activities in connection with the development of any industry;
(k)
providing technical and administrative assistance to any industrial concern
or any person for the promotion, management of expansion of any industry;
(l)
planning and assisting in the promotion and development of industries;
(m)
providing consultancy and merchant banking services;
(n)
acting as the trustee for the holders of debentures or other securities;
(o)
leasing, sub-leasing or giving on hire or hire-purchase of industrial plant,
equipment, machinery or any other asset;
(p)
factoring;
(q)
providing export related credit and services;
(r)
undertaking money market related activities;
(s)
setting up of mutual funds and undertaking asset management activity;
(t)
promoting, forming or conducting or assisting in the promotion, formation,
or conduct of companies, subsidiaries, societies, trusts or such other
associations of persons as it may deem fit;
(u)
opening or confirming or endorsing letters of credit and negotiating or
collecting bills and other documents drawn thereunder;
(v)
doing such other business as the Small Industries Bank may. authorise,
and or generally the doing of such acts and things as may be incidental
to or consequential upon, the exercise of its powers or the discharge of
its duties under this Act.