Kanara Chamber of Commerce and Industry (KCCI) appealed Chief Minister Basavaraj Bommai to take steps on setting up of a Karnataka State Financial Corporation's (KSFC) regional office in Mangaluru.
KCCI President Shashidhar Pai Maroor said KSFC is a state level Financial Institution set up by the government in 1959 under state Financial Corporations' Act 1951 in order to cater to long-term and short-term financial needs of micro, small and medium enterprises (MSMEs) in Karnataka.
The objective of the corporation is to promote industrial activity in Karnataka by providing financial assistance to industries, particularly to small and medium sized units. Dakshina Kannada and Udupi districts have 17,883 micro, small and medium sized units. Thus, the government should set up a KSFC regional office in Mangaluru which would stop industrialists from making frequent visits to Hassan, Maroor said.
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Published 08 March 2022, 13:17 IST