Helpline 0361-222-2200
RTI Act 2005
Information under section 4 (1)(b)
Information under section 4 (1)(b) of the
Right to Information Act, 2005
| Item No. | Provision | Details |
|---|---|---|
| 4.b.i | The particulars of organization functions and duties | The North Eastern Development Finance Corporation Ltd (NEDFi) is a Public Limited Company registered under the Companies Act 1956 on 9th August, 1995. It is notified as a Public Financial Institution under Section 4A of the said Act and was registered as an NBFC in 2002 with RBI. The shareholders of the Corporation are IDBI, SBI, LICI, SIDBI, ICICI, IFCI, SUUTI, GIC and its subsidiaries. The management of NEDFi has been entrusted upon the Board of Directors comprising representatives from shareholder institutions, DoNER, State Governments and eminent persons from the NE Region and outside having wide experience in industry, economics, finance and management. NEDFi provides financial assistance to micro, small, medium and large enterprises for setting up industrial, infrastructure and agri-allied projects in the North Eastern Region of India and also Microfinance through MFI/NGOs. Besides financing, the Corporation offers Consultancy & Advisory services to the state Governments, private sectors and other agencies. We conduct sector or state specific studies under its Techno-Economic Development Fund (TEDF) and is the designated nodal agency for disbursal of Govt. of India incentives to the industries in the North-East India under North–East Industrial and Investment Promotion Policy 2007 (NEIIPP 2007). Our promotional activities include NEDFi Haat, NEDFi Convention Center, NEDFi Pavillion etc. NEDFi is an ISO 9001:2008 certified company since 2001 and our mission is for the economic development of the North Eastern Region of India by identifying, financing and nurturing commercially and financially viable projects in the region. |
| 4.b.ii | The powers and duties of its officers and employees | All the officers of the Corporation have certain specified duties and delegated powers as required for the day-to-day functions depending upon their positions/area of work. |
| 4.b.iii | The procedure followed in the decision making process, including channels of supervision and accountability. | There is a well defined system in the Corporation regarding decision making process. The Corporation follows a committee based approach for all its lending decisions wherein Credit/Settlement committees have been set up right from branch level depending upon the nature and size of loan. Branches receive applications for credit facilities and recommend to the appropriate sanctioning authority. There is a defined organizational structure and clear system of accountability based on RBI / CVC guidelines. All credit decisions approved by any sanctioning authority are reported to the next higher authority for control / monitoring purpose. The system of exercising proper delegation of power and submission of control reports is in place and they are monitored by control officers. Administrative decisions are taken at various levels of Officers and also by Chairman & Managing Director as per the powers delegated to them by the Board. |
| 4.b.iv | The norms set by the Corporation for the discharge of its functions. | The policies and norms are duly approved by the Board of Directors of the Corporation and necessary instructions are issued by the Corporation’s Policy Departments to the branches and other Depts of the Corporation . |
| 4.b.v | The rules, regulations, instructions, manuals and records, held by the Corporation or under its control or used by its employees for discharging its functions. | There are a number of documents like Corporations Rules and Policies , codified circulars, delegation of powers, Corporation etc. issued for internal use by the employees for discharging various functions. |
| 4.b.vi | A statement of the categories of documents that are held by the Corporation or under its control. | The documents being obtained at the time of lending are preserved at the respective branch offices and Head office of the Corporation . The Corporation maintains register of share holders and record of proceedings of the Board meetings at its Head Office at Guwahati. |
| 4.b.vii | The particulars of any arrangement that exists for consultation with, or representation by, the members of the public in relation to the formulation of its policy or implementation thereof. | The corporation’s shareholders are IDBI, LIC, SBI, GIC, FIs(refer to approved final one ). Representatives of the shareholders and Industry Association / Chief Secretaries ( 2 at a time on rotation basis ) are members on the Board of Directors. The issues concerning the policies can be raised by the shareholders in the Annual General Meetings of the Bank and by members in the Board meetings. |
| 4.b.viii | A statement of the boards, committees consisting of two or more persons constituted as its part or for the purpose of its advice, and as to whether meetings of those boards, committees and are open to the public, or the minutes of such meetings are accessible for public.” | NEDFi is governed by its Board of Directors and its various Committees which are listed below. The Board and its Committees meet at regular intervals and guide the Corporation in achieving its objectives. Board of Directors Sanctioning Committee (DC) Audit Committee (AC) Corporate Credit Committee – I (CCC I) Corporate Credit Committee – II (CCC II) |
| 4.b.ix | A directory of its officers and employees. | The list of address of branches / Head office are available with Branch Offices and Head office. The list of offices is available at the Corporation’s website. |
| 4.b.x | The monthly remuneration received by each of its officers and employees, including the system of compensation as provided in its regulations | To view the details of Scales of Pay of Officers & Staff, click here |
| 4.b.xi | The manner of execution of subsidy programmes including the amounts allocated and the details of beneficiaries of such programmes. | The Corporation does not have its own subsidy programmes or plans for lending activities. However, the Corporation is the nodal agency for disbursing Central subsidies applicable to the NER. Details of these schemes are available at the Corporation’s website. |
| 4.b.xii | The names, designations and other particulars of the public Information officers | An Asstt. General Manager at HO, Guwahati has been designated as PIO. To view detail click here |
