The Risk Capital and Technology Finance Corporation Limited (RCTC) since its inception in 1976 has sanctioned ‘a total assistance of Rs. 3501 lakh under its various schemes for setting up 230 number of projects up to 31 March 1990. These projects are expected to create direct employment for 41899 persons and will catalyze an investment of Rs. 983 crore. The annual sales value of these projects at the optimum level would be Rs 1494 crore.
RCTC sanctioned the total assistance of Ps. 1221 lakh for 36 projects during the financial year 1989-90. 0ver two-thirds of the sanctions during the year were under the recently launched scheme of Technology Finance and Development The projects assisted under the Scheme cover a wide range such as software development, artificial intelligence, educational robots, software for local area network, digitized fonts, digitizers, intermediates for pesticides, thin-film composite membranes, hybrid seeds, software for 3-D computer animation, manufacture of Hexa-chlorocyclo-pentadiene and tissue culture plantlets, etc. Most of the projects assisted under RCTC were also based on new technology or were for the manufacture of new products for new usages. The Projects which have been sanctioned assistance include the manufacture of antibiotic drugs, tomato paste, radio paging system, pay-phones, calcium silicate bricks, granite and marble processing machinery, polymer concrete products, etc.
RCTC sponsored by IFCI is a Pioneering institution in the field of providing risk capital assistance. RCTC, besides operating the scheme of assistance for medium scale entrepreneurs to meet promoters' contribution launched its new scheme of Technology Finance and Development towards the end of 1988 to provide impetus to the technological innovations and their commercialization in the country by providing requisite financial support to eligible projects.
Source: Press Release
PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
Date: April 03, 1990