State Financial Corporations Act, 1951

This volume presents the State Financial Corporations Act, 1951, a key legislation that governs the formation and operation of State Financial Corporations (SFCs) across India. The Act provides a statutory framework for SFCs to promote industrial development by extending financial assistance to medium- and small-scale enterprises. This edition reproduces the Act in its entirety, presenting provisions related to incorporation, management, powers, lending procedures, and oversight mechanisms in a clear and accessible format. Designed for legal professionals, bankers, policy makers, and academics, the book serves as a practical guide to interpreting statutory provisions, facilitating compliance, and understanding the regulatory environment governing development finance. Readers gain insight into the functioning of state-level financial institutions, statutory obligations of SFCs, and their role in industrial and regional economic development. By consolidating statutory text and explanatory context, this edition provides a dependable reference for legal study, policy planning, operational guidance, and academic research, making it an indispensable resource for anyone working with finance law, corporate governance, or public sector financial institutions in India.