Chandigarh, March, 07 2009. In view of the intiative taken by the Chandigarh Administration to phase out the existing Petrol-Disel operated Auto rickshaws in Chandigarh. The Delhi Financial Corporation has launched Financing of LPG Auto-Rickshaws by relaxing guarantee norms and reducing the margin money from 25% to 20% for financing LPG Auto rickshaws. This is said by Mr. S. P. Singh IAS Chairman and Managing Director of Delhi Financial Corporation.
Mr Singh was in city to review the performance of Chandigarh Branch. On this occasion. He also met the Association of Hotels, Industries and Transporters. He pointed out to concentrate on Chandigarh as a major thrust area. He told the existing entrepreneurs to avail finance from the Corporation under its expansion, diversification and modernization schemes.. The Corporation also presented Single Window Scheme for term loan for acquisition of machinery as well as working capital requirement. He further pointed out that the Corporation is also typing up with the banks or consortium financing and coordination for working capital assistance from banks to those clients whom the term loan will be sanctioned by the Corporation.
He said Corporation is also tying up with the Chandigarh Housing Board for providing NOC on allotment of booths so that the Corporation shall be able to finance 75% of the allotment price of booth. As a special measure, the Corporation shall also provide financial assistance for the conversion charges to be paid by the entrepreneurs for change of land use from Industrial to Commercial. During meeting he also informed the entrepreneurs that keeping in view the stiff competition, the Corporation shall also provide door step service and shall be disposing off loan proposals in a time bound manner.
Mr. Singh directed the senior officers of the Corporation to simplify the loan application forms to assist the entrepreneurs and a detailed check list be provided along with loan application form and once complete application form along with documents are received, the application shall be disposed off in a time bound manner. During the meeting, the Corporation received number of enquiries and a few proposals were finalized for sanction of loans. To give good services to the entrepreneurs of Chandigarh, Mr. Singh posted one Manager in the Branch Officer and also delegated him the powers to sanction LPG auto loans in Chandigarh itself.