hon'ble minister, industries & commerce, public

Hon'ble Minister, Industries & Commerce, Public Enterprises etc. conferring awardwith a Certificate of Appreciation for adopting the Annual Accounts for FY:2014-15

Some moments of 63 Foundation Day celebration of AFC on 19-04-2016.rd

Contents

n Highlights 2

From the Managing Director's desk 3

Board of Directors 5

Principal Officers 6

Address of Offices 7

Notice to Shareholders 8

Report of the Board of Directors 10

Principal Bankers 17

Auditor's Report 22

Comments on Auditor's Observation 25

Balance Sheet 27

Profit & Loss Account 28

Cash Flow Statement 29

Schedules 30

Disclosure Requirement as per SIDBI's guidelines 42

Sources and Uses of Fund 44

Index to Annexures 46

n

n

n

n

n

n

n

n

n

n

n

n

n

n

n

n

n Micro Finance Operation 70

Annual Report2015-2016

62nd

HIGHLIGHTS

2

in lakhs`

POSITION OF THE PRINCIPAL PORTFOLIOS DURING THE LAST THREE YEARS

CUMULATIVE POSITION OF PRINCIPAL PORTFOLIOS IN LAST THREE YEARS


62nd

From The Managing Director's Desk

3

It is my pleasure to present an account of Assam Financial Corporation's working during thefinancial year 2015-16. During the year the Corporation has been able to sustain its revival byregistering a net profit of 8.90 lakhs for 10 consecutive year notwithstanding sluggish paceof industrial growth of the state.

Other performance highlights of the Corporation are enumerated below for the informationof the shareholders:

The loan sanction amounted to 1056.15 lakhs and total disbursement amountedto 814.46 lakhs;

Total recovery of loan increased sizably to 2087.08 lakhs from 1514.89 lakhs inthe previous year registering a growth of 37.77%;

The total income of the Corporation recorded at 1142.10 lakhs with an increasein interest income in comparison to the previous year and the performance of theCorporation has been reflected by our profit consecutively for tenth year;

`

`

`

` `

`

th

n

n

n


62nd

In micro finance sector after successful implementation of the prestigious ' ChiefMinister's Micro Finance Scheme a new scheme called ' Kanaklata Micro FinanceScheme' has been added to encourage the women entrepreneurs in the rural aswell as semi urban & urban areas of Assam to set up their own enterprises forlivelihood support of their families and contribute towards the socio-economicdevelopment of the state;

Sanction of good loans and continuous effort put on recovery from bad loans during FY 2015-16 have resulted in maintaining Gross NPA at 36.44% as on 31-03-2016 as compared to 35.69%as on 31.03.2015. Similarly, the Net NPA was maintained at 17.20 % as on 31.03.2016 ascompared to 16.56 % as on 31.03.2015. It has been the primary concern of the Corporation tomaintain asset quality and therefore during the year under review the Corporation put inplace a supplementary loan settlement policy for recovery from new NPAs in addition to theextension of time span of the old OTS policy to boost up recovery of old NPA accounts overand above normal course of recovery.

We have made progress towards attaining sustainable growth to contribute more for thedevelopment of the state, but we have more to do for extending continuous financial supportto industrial & service sector projects for economic growth of the state and generating more &more employment opportunities. We will continue to take decisive action to strengthen andgrow our Corporation in sustainable way with our long term vision to deliver more customerfriendly products and services to our clients in a professional manner. The Corporation hasbeen receiving support and guidance from all quarters in general and Government of Assamand SIDBI in particular, and hope that it would continue in the years to come to enable us toachieve our objectives.

Our people will continue to be the driving force behind our success and growth. We zealouslybelieve that the future of our Corporation depends on the way in which we take care of theneed of our clients in most professional way.

n

4

Sd/-

Managing Director(Anwaruddin Choudhury, IAS)


62nd

BOARD OF DIRECTORS( F.Y. 2015-16)

Shri Satya Narayan SahuRetd. General Manager,

United Bank of IndiaDIRECTOR

Shri Swaminathan MallikarjunGeneral Manager, SIDBIGuwahati Regional Office

DIRECTORUp to 22-6-2015

Shri Sanjeev GuptaDeputy General Manager

SIDBIGuwahati Regional Office

DIRECTORw.e.f. 22-6-2015

Shri Debeswar Malakar, IASManaging Directorup to 26-05-2015

Shri Imdadul Haque, IAS,Commissioner & Secretary,

Finance,DirectorGovt. of Assam

5

Dr. Anwaruddin Choudhury, IASManaging Directorw.e.f. 07-07-2015

Shri Ashim BhuyanSenior Divisional Manager, LICI

Guwahati Divisional OfficeDIRECTOR

Up to 12-05-2015

Sri Bijay Kumar Panda,Sr Divisional Manager, LICIGuwahati Divisional Office

DIRECTORw.e.f. 03-06-2015


62nd

LIST OF PRINCIPAL OFFICERS OF THE CORPORATIONFOR THE FY 2015-16

Sri Dilip Kumar BoraDeputy General Manager

(Personnel & Administration, Accountsand Co-ordination of Branch Offices)

Up to 31-05-2015

Sri Kesareswar GoswamiManager (General Administration)

Sri Gopal Prasad GuptaDeputy General Manager,

i/c, (P&A/Accounts)

Sri Krishna KantaMazumdar

Manager (Recovery)

Sri Anutpal BhattacharyyaSenior Branch Manager

Jorhat Branch Office

Mrs. Kalpana Saikia DassDeputy General Manager,

(Legal / Recovery / MIS & NPA /Internal Audit)

i/c,

Shri Hiranya SaikiaSenior Branch Manager

Bongaigaon Branch Office

Sri Robin Ch. DuttaDeputy General Manager

Central Loan Processing Cell/MF & NB/ GBO

Sri Fayek AzadManager, (GBO)

Sri Dilip GoswamiManager (CLPC / MF & NB / BDB)

Sri Ashim Kr. TalukdarManager (Accounts)

6

Sri Hari Prasad BorahManager (Legal)


62nd

ADDRESS OF OFFICESHEAD OFFICE Managing Director

GUWAHATI BRANCH OFFICE The Deputy General Manager"Vittiya Bhawan", Ground Floor, Mobile : 98599-16505Md. Shah Road, Paltanbazar,Guwahati -781 008, Assam.

MICRO FINANCE & NEW The Deputy General Manager"Vittiya Bhawan", Ground Floor, Mobile : 98599-16507Md. Shah Road, Paltanbazar,Guwahati -781 008, Assam.

JORHAT BRANCH OFFICE The Senior Branch ManagerMalow Ali Mobile : 98599-16508Jorhat-785001 (Assam)

TEZPUR BRANCH OFFICE The Senior Branch ManagerSouth Hazarapar (Near Agriculture Mobile : 98599-16516Colony), Tezpur-784001 (Assam)

BONGAIGAON The Senior Branch ManagerBarpara, Main Road Mobile : 98540-28761Bongaigaon - 783 380,Assam.

TINSUKIA BRANCH OFFICE The Branch ManagerNamghar Road, Bordoloi Nagar, Mobile : 98599-16518Tinsukia - 786 125, Assam

DIBRUGARH The Branch ManagerJiban Phukan Nagar Mobile : 98599-16517PO: CR Building,Dibrugarh-786003, Assam

NAGAON BRANCH OFFICE The Branch ManagerRKB Road, Christian Patty, Mobile : 98599-16512Nagaon-782001, Assam

SILCHAR BRANCH OFFICE The Branch ManagerAshram Road, Mobile : 98599-16514PO: Vivekananda Road,Silchar-788007, Assam.

NALBARI BRANCH OFFICE The Branch ManagerHajo Road, 1st Floor, Mobile : 98540-28762Pragati Nursing Home complex,Nalbari-781335, Assam.

LAKHIMPUR The Branch Manager

AGARTALA FIELD OFFICE Officer-in-chargeColonel Chowmohani Mobile : 097740-87760Agartala-789001 (Tripura West)

IMPHAL FIELD OFFICE The Assistant -in-ChargeHotel Excellancy Complex Mobile : 094366-12983Sega Road (Airport Road)Imphal-795001 (Manipur)

Tel: 0361-2739839/2633658

Email:[email protected] &[email protected]: www.afconline.gov.in

Tel: 0361 2739839/2633658.

Tel: 0361 2739839/2633658.BUSINESS BRANCH

Tel: 0376-2320462(Near Telephone Exchange)

Tel: 03712- 220761

Tel: 03664- 230478BRANCH OFFICE

Tel: 0374 -2339857

Tel: 0373-2313601BRANCH OFFICE

Tel: 03672-233830

Tel: 03842-266914

Tel: 03624-220593

Tel: 03752-222564BRANCH OFFICE

Tel: 0381-2324662

Email: [email protected]

NORTH

Vittiya Bhavan fax : 0361-2519859Md. Shah Road, Paltanbazar,Guwahati - 781008. Assam

e-mail: [email protected]

OFFICEe-mail: [email protected]/[email protected]











Officer -in-chargeAssam Financial CorporationAllabhabad Bank BuildingCentral Market, Sivasagar (Assam)

K.B. Road, Ward No. 12 Mobile : 98599-16519North Lakhimpur-787001

SIVASAGAR SATELLITEOFFICE

7


62nd

ASSAM FINANCIAL CORPORATIONA joint Financial Corporation for the States of Assam, Meghalaya, Manipur & Tripura

(Incorporated under the State Financial Corporations Act, 1951)

Head Office: “VITTIYA BHAVAN”M. S. ROAD, PALTANBAZAR, GUWAHATI – 781 008

Phone: 0361-2633658, 2739839 : Fax: 0361-2519859 : E-mail: [email protected] : [email protected]

No. AFC/AGM-62/2016-17/480 Dated Guwahati, July 06, 2016

NOTICE FOR AGM

NOTICE is hereby given that the 62 (Sixty Second) Annual General Meeting of the Share Holders ofAssam Financial Corporation will be held on Saturday, July 30, 2016 at 11.30 a.m. at the Head Officeof the Corporation at “Vittiya Bhavan”, M.S. Road, Paltan Bazar, Guwahati-781008, Assam, totransact the following business:

01. To consider and adopt the Audited Balance Sheet as at 31 March, 2016 and the Profit & LossAccount of the Corporation for the year ended March 31, 2016 together with the Auditor's Reportthereon and a Report of the Board of Directors on the working of the Corporation during the FY2015-16.

02. To appoint Statutory Auditors of the Corporation for the FY 2016-2017 from the penal of auditorsas approved by the Reserve Bank of India on the terms and remuneration, as fixed by the RBI.

By order of the BoardGuwahati,July 06, 2016 Sd/-

MANAGING DIRECTOR i/c

nd

st

Notes:

1. The Share Register of the Corporation will remain closed and registration of transfersuspended from July 21, 2016 to July 30, 2016 (both days inclusive).

2. Certified copies of the resolution appointing duly authorized representatives by companiesetc. should reach the Head Office of the Corporation at Guwahati not later than 4 (four) clear daysbefore the date fixed for theAnnual General Meeting i.e. on or before the July 25, 2016.

3. Proxies should reach the Head Office of the Corporation at Guwahati not later than 7 (seven)days before the date fixed for theAnnual General Meeting i.e. on or before the July 22, 2016.

4. List of Shareholders of the Corporation is available at the Head Office of the Corporation atGuwahati, at a price of Rs.5.00 per copy.

8


62nd

REPORT OF THE BOARD OF DIRECTORS

TO THE SHAREHOLDERS

REPORT OF THE BOARD OF DIRECTORSTO THE SHAREHOLDERS

10

Dear Shareholders,

OPERATIONAL HIGHLIGHTS:

SANCTION & DISBUSREMENT

Board of Directors of the Assam FinancialCorporation (AFC) has great pleasure inpresenting the 62nd Annual Report on theperformance of the Corporation together withthe Audited Accounts for the year ended 31stMarch, 2016.

The Corporation continued its lending outof its fund generated through recovery as wellas fund received from Govt. of Assam. Duringthe year the Corporation received 52 nos. ofapplications involving an amount of 1347.54lakhs and sanctioned an amount of 756.15lakhs to 43 nos. of applicant as against1045.60 lakhs to 42 nos. of applicant in theprevious year. The MSME sector continues tooccupy a significant proportion in the totalsanction of the Corporation similar toprevious years. In MSME sector theCorporation sanctioned 571.55 lakhs to 31nos. of applicant. On the other hand in sectorsother than MSME the Corporation sanctioned

184.60 lakhs to 12 nos. of applicant. Inrespect of disbursement of loan , against theprevious year's disbursement of 1335.82lakhs the Corporation could disburse anamount of 814.46 lakhs. In micro financesector the Corporation sanctioned an amountof 300.00 lakhs under the new micro financescheme called "KANAKLATA MICROFINANCE SCHEME" which was introducedd u r i n g t h e y e a r a f t e r s u c c e s s f u limplementation of the prestigious " CHIEFMINISTER'S MICRO FINANCE SCHEME".During the last year the Corporationsanctioned an amount of 227.76 lakhs to 3micro finance units and disbursed an amountof 282.76 lakhs under "CHIEF MINISTER'SMICRO FINNACE SCHEME"

`

`

`

`

`

`

`

`

`

`

The sanction & disbursement performanceof the Corporation during the year was notsatisfactory due to decline in the overalleconomic growth of the state and weak globaleconomic scenario. The state of Assamrecorded growth of industrial sector belowthe national average during the year mainlydue to suspension of NEIIPP-2007 act by theCentral Govt. Further, during the last fewyears the Gross State Domestic Product of thestate has shown a moderate trend. During theyear 2015-16, the growth rate of the state hasbeen estimated to be remained at around6.00% as against the growth rate of 6.41%recorded in the previous year and 5.57%recorded from year 2005 to 2014. At Nationallevel as per the pre-budget economic surveythe growth in the year 2015-16 has been


62nd

11

estimated at 7.60% as against the projectedgrowth of 8.10% to 8.50%. On the other hand,the contribution of industry to the GSDP ofAssam has declined sizably from 27.54% in2004-05 to just 20% in 2010-11, 21.27% in 2013-14 and below 20% in year 2014-15 and 2015-16depicting a dismal industrial scenario in thestate. Despite the economic slowdownbottomed out for last few years and verycompetitive business environment andmarket conditions prevailing in the economy,AFC has recorded a moderate performance interms of sanction & disbursement and couldprovide direct & indirect employmentopportunity to a good number of unemployedpersons of the state during the year. Out oftotal 43 projects sanctioned 3 projects belongto tourism cum hotel sector, 3 projects belongto health sector, 10 projects belong to foodprocessing, 2 projects belong to beverageindustry, 12 projects belong to misc.manufacturing sector, 1 project belongs toprinting industry and rest belongs to CREsector. In terms of district out of total 43 projectssanctioned 8 projects are assisted in Nalbaridistrict, 4 each in Barpeta & Tinsukia district, 7in Jorhat district, 2 each in Bongaigaon,Nagaon, Morigaon, Sonitpur, Darrang,Lakhimpur, Dhemaji & Dhubri district and 1project each are assisted in the district ofDibrugarh, Kamrup (Metro) & Goalpara andin the neighbouring state ofTripura.

During the FY 2015-16 the Corporationcontinued its effort to maximize its recovery ofdues. The total recovery was 2087.08 lakhsduring the year as against 1563.54 lakhs &1514.89 lakhs in the previous years 2013-14 &2014-15 respectively registering a CAGRgrowth of 15.54%. The total principal collectionduring the year was 1367.64 lakhs as against994.78 lakhs & 802.98 lakhs in the previousyears 2013-14 & 2014-15 respectivelyregistering a CAGR growth of 17.25%. Theinterest recovery rose to 706.73 lakhs duringthe year under review from 543.92 lakhs in FY:2013-14 & 689.13 lakhs in FY: 2014-15

`

` `

` `

`

`

`

`

RECOVERY PERFORMANCE

respectively registering CAGR growth of 13.99% from FY: 2013-14. It is worthwhile to mentionthat out of the above recovery, the Corporationcould recover an amount of 12.71 lakhs out ofprudentially written off loan accounts asagainst 24.84 lakhs & 22.78 lakhs in thepreviousyears2013-14 &2014-15 respectively.

The resource base of the Corporationmainly comprises of recovery, equity, softloan from Govt. of Assam and refinance fromSIDBI. However, during the year theCorporation could not access refinance fromSIDBI nor any equity or soft loan support fromGovt. of Assam.

The Corporation has been able to maintainits profit earning trend for 10th consecutiveyear by earning a nominal profit of 8.90 lakhsduring the year 2015-16 in comparison to theprevious year profit of 2.31 lakhs. However,this profit has not been adequate to absorb theadjustment made on account of past liabilitiesresulting into increase of the accumulated lossto 402.89 lakhs during the year.

`

` `

`

`

`

RESOURCES

NET PROFIT


62nd

12

INCOME AND EXPENDITURE

NETWORTH

The total income of the Corporation during2015-16 recorded at 1142.10 lakhs as against

1170.39 lakhs in 2014-15. The interest incomegrew marginally by 1.22% to 706.06 lakhsfrom 697.55 in 2014-15. There has not beenany significant increase in the interest incomesince loan portfolio of the Corporation has notincreased during the year under review. Onthe other hand on the expenditure side it maybe observed that the total expendituredecreased to 1133.19 lakhs during the yearfrom 1168.08 lakhs in the previous year.

The Net Worth of the Corporation has beenreduced to 3107.77 lakhs as on 31.03.2016 from

3178.34 lakhs (recasted) as on 31.03.2015 dueto increase ofaccumulated loss.

`

`

`

`

`

`

`

`

CAPITAL ADEQUACY (CRAR)

PORTFOLIO QUALITY AND NPASTATUS

The Capital to Risk Weighted Assets Ratiostands at 61.11 % as on 31.03.16 compared to50.42% as on 31.03.15.

Standard Assets have come down to

3784.03 lakhs in 2015-16 from 4186.67 lakhs

in 2014-15 due to substantial decrease in the

sanction & disbursement of loans during the

year. However, the Non-performing assets

have been decreased from 2323.93 lakhs in

the previous year to 2169.53 lakhs in 2015-16

by 6.64 % due to prompt action initiated for

recovery of dues from such accounts. Though

it has been observed a decrease in standard

assets portfolio, the gross NPA has however

been marginally increased to 36.44 % as on

31.03.2016 from 35.69% as on 31.03.2015 due to

increase in recovery from old NPA accounts.

The net NPA has also marginally increased to

17.20 % as on 31.03.2016 from 16.58% as on

31.03.2015.

Provisions against loans & advances and

asset classification are made in accordance

with extant guidelines of SIDBI for State

Financial Corporation.

The table below depicts comparative asset

wise classification of loans & advances

position for the FY: 2015-16 with FY: 2014-15.

`

`

`

`


62nd

13

( in lakhs)`

Class ofAssets As on 31-03-2016 As on 31-03-2015

Standard 3784.03 4186.67

Sub-standard 546.69 916.77

Doubtful-I 380.28 58.12

Doubtful-II 53.96 8.97

Doubtful-III 607.28 694.74

Loss 581.32 645.33

TotalAssets 5953.56 6510.60

TREASURY OPERATIONS

PLANTATION DEVLOPMENT FUND

The Corporation during FY 2015-16continued to invest short term surplus fundjudiciously in STDR with various Banks andmutual funds through its Board constitutedInvestment Committee. During the yearincome from treasury operations was 238.34lakhs as against 262.32 lakhs in 2014-15.

The Governor of Assam in exercise ofpower conferred by sub-section (3) of section -8 of the Assam Agricultural Income Tax Act1939 has introduced the PlantationDevelopment Fund Scheme Assam; videFinance (Taxation) Department NotificationNo. FTX/20/94/79 dated 17th November,

`

`

1994. The income earned by the Corporationduring FY 2014-15 stood at 5.62 lakhs.

The Corporation has a Audit Committee ofthe Board consisting of three Directors of theBoard under the Chairmanship of a non-executive professional Director. TheCommittee met two times during FY 2015-16and reviewed the Internal Audit Report, actiontaken status on Internal Audit Report as well asthe half-yearly andannual financial statements.

5 (five) employees retired from service onattaining superannuation. Total manpowerstrength of the Corporation as on 31.03.2016stood at 143 nos. The total manpower strengthcomprises of 10 nos. of women employees ofwhich 7 nos. are at the Officers level and therest are working as support staff in variousoffices of the Corporation.

During the year external training wasimparted to 2 (two) nos. of employees on'Computerized Accounting and MIS Reportpreparation'. Further, need based in-housetraining was imparted to 46 number ofemployees covering all Branch Offices ontopics like 'Loan Accounting Functions ofAFC', 'Loan Appraisal and Sanction &Disbursement Processes of AFC' etc. forcapacity building & skill development of thework force of the Corporation.

The Corporation continued to provideSummer Training facilities as a part of itsCorporate Social Responsibility and duringthe year 6 nos. of Graduates and PostGraduate management students of differentUniversities/ Institutions etc. completed their

`

AUDIT COMMITTEE

MAN-POWER

HUMAN RESOURCE DEVELOPMENT

SUMMER TRAINING


62nd

14

projects under the guidance of officers of theCorporation.

The Branch and Field Offices position ofthe Corporation as on 31-03-2016 was asunder:

1. Dy. G. M. level Branch: 2 nos.

2. Senior Branch Manager level Branch : 3 nos.

3. Branch Manager level Branch: 5 nos.

4. Field Office: 2 nos.

5. Satellite Office: 1 No.

During the year 2015-16 the Corporationreceived 6 nos. of applications seekinginformation on various aspects under RTI Actand all the applications were disposed ofduring the year under review.

The Board of Directors of the Corporationmet 3(three) times during the year 2015-16 totransact various business of the Corporation.

Share Equity Share Special Share Total %HoldingHeld By Capital Capital

Govt. ofAssam 2574.74 110 2684.74 82.99%

Govt. of Tripura 60.45 0 60.45 1.87%

Govt. of Manipur 25.28 0 25.28 0.78%

SIDBI 334.18 110 444.18 13.73%

LIC of India 9.6 0 9.6 0.30%

Scheduled Banks 8.15 0 8.15 0.25%

Others including 2.57 0 2.57 0.08%Individual

Total 3014.97 220 3234.97 100.00%

BRANCH NETWORK

RIGHT TO INFORMATION ACT

SHARE HOLDING PATTERN OF THECORPORATION AS ON 31.03.2016

BOARD OF DIRECTORS

1. CHAIRMAN:

2. MANAGING DIRECTOR:

MICRO FINANCE ACTIVITY

The post remained vacant during the year.

Sri Debeswar Malakar, IAS acted asManaging Director of the Corporation up to25-05-2015. Thereafter, Dr. AnwaruddinChoudhury acted as Managing Director of theCorporation with effect from 07-07-2015.

During the year under review thefollowing changes took place in the Board ofDirectors of the Corporation.

The following are the Directors who left theCorporation during FY: 2015-16:

1. Sri Swaminathan Mallikarjun, GeneralManager, SIDBI, Guwahati Regional Office ;

2. Sri Ashim Bhuyan, Senior DivisionalManager, LICI, Guwahati Divisional Office;

The following are the new Directors whojoined the Corporation during FY: 2015-16:

1. Sri Bijoy Kumar Panda, Senior DivisionalManager,LICI, Guwahati DivisionalOffice;

2. Sri Sanjeev Gupta, Deputy GeneralManager,SIDBI, Guwahati Regional Office;

The Board places on record its appreciationfor the valuable services rendered by theoutgoing Directors. There is no womendirector representing the Board of theCorporation during the FY: 2015-16.

During the year, the Corporation haslaunched a new micro finance scheme in thename of "KANAKLATA MICRO FINANCESCHEME" in order to continue its support toMicro Finance Institutions (MFIs). Under thesaid scheme the Corporation has sanctionedan amount of 300.00 lakhs to 3 (three)reputed Micro Finance Institutions of thestate. The Corporation has however stoppedits assistance under the prestigious "CHIEFMINISTER'S MICRO FINANCE SCHEME"since the corpus received from the Govt. ofAssam has been exhausted. Mention may bemade that in the FY. 2014-15 the Corporationsanctioned and disbursed 227.76 lakhs &282.76 lakhs under the "CHIEF MINISTER'S

`

` `


62nd

15

MICRO FINANCE SCHEME". As against themicro finance fund of `1000.00 lakhs receivedfrom Govt. of Assam in year, 2009 thecumulative sanction and disbursement standsat 2083.76 lakhs and 1463.76 lakhsrespectively as on 31-03-2016. The institutionsare regular in repayment of loan to theCorporation. The repayment of Govt. fund isalso regular along with payment of interest.The Corporation has repaid an aggregateamount of 800.00 lakhs out of the totalcorpus of 1000.00 lakhs received from GoAbesides interest payment of 98.69 lakhs as on31-03-2016. Mention may be made that themicro finance lending of the Corporationduring the last few years has substantiallydeclined after imposition of restriction onNGO-MFI from carrying out micro financeactivities. However, many of NGO-MFIs whoearlier availed assistance from theCorporation have subsequently transformedto Non Banking Finance Company (NBFC),Thrift & Credit Co-Operative Society or Sec-25 Company to become eligible to avail MFloan from the Corporation. Therefore, freshproposal was submitted to the Govt. toprovide more fund to the tune of `2000.00lakhs for expansion of micro finance activityby the Corporation all over the state.Meanwhile, about 23000 women beneficiarieshave got assistance under the Chief Minister'sMicro Finance Scheme as on 31-03-2016. It isexpected to provide financial assistance tomore than 50,000 women beneficiaries all overthe state under the 2000.00 lakhs proposalsubmitted to the Govt. of Assam.

` `

`

`

`

`

MICRO FINANCE BENEFICIARYASSISTED UNDER CMMFS

The Corporation's aggregate sanction anddisbursement amount in respect this fund is160.00 lakhs and 50.00 lakhs only up to FY.2015-16. During the year the Corporationcould not sanction & disburse any loan underthe scheme though a good number of loaninquiries were received by the Corporationduring the year. The Corporation hasearmarked sanction and disbursement targetof 100.00 lakhs and 100.00 lakhsrespectively for FY : 2016-17.

During the year 2015-16 revenue earnedfrom non fund based activities had been veryencouraging as the Corporation could earn anamount of 19.34 lakhs against 3.61 lakhsearned in the previous year due to the reasonthat the Corporation from last few years hasstarted to carry out Capital InvestmentAppraisal of self financed projects for CentralCapital Investment Subsidy under NEIIPP-2007 as per the guideline of the Ministry ofCommerce & Industry, Govt. of India. TheCorporation has carried out InvestmentAppraisal of 10 projects in FY: 2015-16 and alsoprepared a project report for a MSME project.Based on the number of enquiries andproposals received it is anticipated that theCorporation would be able to earn sizableamount of non-fund based revenue in thesubsequent years.

`

`

` `

` `

AXOM FUND SCHEME

NON FUND BUSINESS ACTIVITIES


62nd

16

STRATEGYFORTHEFINANCIALYEAR2016-17

STATUTORY AND AG's AUDIT

CORPORATE GOVERNANCE:

The Corporation's primary focus in 2016-17would be on term lending to MSME sectors asits core business activity. The Corporation hasnot received any budgetary support formGovt. of Assam during the financial year 2015-16. The Corporation has therefore moved thestate govt. with a request for continuation ofBudgetary support in the form of soft loan andequity to the Corporation to sustain its futuregrowth. The Corporation has set a sanctiontarget of 35.00 crore and disbursement targetof 30.00 crore during the FY 2016-17 whichwill be enhanced as and when fund in the formof financial support is received from Govt. ofAssam. The Corporation has taken steps torevise the lending policies and procedures asper changing requirements from time to time.During 2016-17, the Corporation wouldcontinue its effort to identify new businessopportunity with due focus on Micro Financeand other non-fund business activities. TheCorporation would continue its endeavour torecover maximum amount from NPAaccounts and prevent slippage from standardassets to reduce the level of NPA and to ensureoverall improvement in profitability.

The AG's audit team completed the audit ofaccountsof theCorporationfortheFY:2014-15interms of Section 37 (6) of the SFCs Act, 1951 Asrecommended by the Reserve Bank of Indiaunder Sec. 37(1) of SFCs Act the Corporation inits 61st Annual General meeting held on 31 July,2015 reappointed M/s Ramen Sarma & Co., R.G.Baruah Road, Chandmari, Guwahati-3,Chartered Accountants as Statutory Auditor ofthe Corporation for the FY 2015-16 to conductauditof thebooksofaccountsof theCorporation.The Auditors have audited the accounts of theCorporation along with financial statements forthefinancialyear2015-16.

The Corporation has been ensuringtransparency, fairness and accountability inall its dealings. NPA loan settlement policy,Lending policy are well in place and being updated/ reviewed from time to time as per

`

`

changing requirements. The Corporation hasdesignated State Public Information Officers/Asstt. Public Information officers andAppellate Officers for the Head Office as wellas for all Branch Offices of the Corporation forattending RTI matters.

On the occasion of celebrating the SLEP dayby the Department of Public Enterprises,Govt. of Assam on 9th Oct, 2015, theCorporation was awarded with a certificate ofappreciation for adopting the AnnualAccounts timely for FY: 2014-15

The Directors wish to place on record theirappreciation for the continuous guidance andsupport received from the Government ofAssam and the SIDBI. The Board is extremelygrateful to the Govt. of Assam for the supportby way of releasing the equity support fundwhich helped the Corporation in mobilizingresources at concessional rate. The Board alsoplaces on record its appreciation for theguidance and cooperation received from theFinance (Economic Affairs) Department, thePublic Enterprises Department, Industries &C o m m e r c e D e p a r t m e n t a n d o t h e rOrganizations of the GoA. The Boardexpresses its profuse gratitude to theshareholders, other stake holders and all ourvalued customers for their continued trustand unflinching support all the times. TheBoard acknowledges the high level ofcommitment and dedication put in by theofficers and Staff of the Corporation duringthe year.

AWARD TO AFC:

ACKNOWLEDGEMENTS:

FOR AND ON BEHALF OF THE BOARD

Sd/-(Anwaruddin Choudhury, IAS)

Managing DirectorPlace : GuwahatiDate : 30.7.2016


62nd


62nd

17

PRINCIPAL BANKERS

STATE BANK OF INDIA

PUNJAB NATIONAL BANK

BANK OF BARODA

IDBI BANK

18


62nd

An On-line Examination Center assisted by AFC Jorhatat

A Packaged Drinking Water Project assisted by AFC in Dibrugarh District

19


62nd

A Hotel unit assisted by AFC by the side ofStilwell Road at Jagun, Tinsukia

A Hotel cum Marriage Hall assisted byAFC in North Lakhimpur

An authorized Diesel Pump Repairing cum Service center of M/sBOSCH Limited assisted by AFC at Jogighopa, Bongaigaon

A Medical Diagonstic Center assisted byAFC in Guwahati

A PVC Garden Pipe manufacturing unitassisted by AFC at Madanpur, nearChangsari in the district of Kamrup (Rural)

A Hotel unit assisted by AFC at Silapathar, Dhemaji

20


62nd

Micro Finance Beneficiaries assisted by AFC for providing livelihood support

A Commercial Complex aassisted by AFC t Nalbari

STATEMENT OF ACCOUNTSFINANCIAL YEAR 2015-2016

R S CAMEN ARMA O& .Chartered Accountants

House No-3, R. G. BARUAH ROADChandmari Flyover West Bye LaneCHANDMARI, GUWAHATI-781003

Phone/ Fax No: 0361-2464773Mob. No: 094351-06813

E-Mail: [email protected]

ToThe Shareholders,Assam Financial Corporation“Vittiya Bhavan”, Md. Shah Road,Paltan Bazar, Guwahati-781008

Independent Auditor's Report

1. We have audited the attached Balance Sheet as at 31st. March, 2016 and the annexedStatement of Profit and Loss for the year ended on that date of the

from the books of accounts, record, documents andvouchers produced to us. These financial statements are the responsibility of themanagement of the corporation. Our responsibility is to express an opinion on these financialstatements based on our audit.

2. We have conducted our audit in accordance with auditing standards generally accepted inIndia. Those Standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. An auditincludes examining, on a test basis, evidence supporting the amounts and disclosure infinancial statements. An audit also includes assessing the accounting principles used andsignificant estimates made by management, as well as evaluating the overall financialstatements presentation. We believe that our audit provides a reasonable basis for ouropinion.

3. We have obtained all the information and explanations which to the best of our knowledgeand belief were necessary for the purpose of our audit.

4. The Balance Sheet, Statement of Profit & loss dealt with by this report are in agreement withthe books of accounts maintained and produced before us by the corporation.

5. In our opinion and to the best of our information and according to the explanations given tous, the said accounts read with the notes thereon and in particular subject to our observationgiven in the ANNEXURE, give the information required by the State Financial CorporationAct, 1951 as amended by the State Financial Corporation (Amendment) Act, 2000 areproperly drawn up in the manner so required and give a true and fair view, in conformitywith the accounting principles generally accepted in India.

a. in case of the Balance Sheet, of the state of affairs of the corporation as at 31st. March, 2016;

b. in case of Statement of Profit & loss of the Profit for the year ended on that date; and

c. in case of Cash Flow Statement of the cash flow for the year ended on that date.

For, ;Chartered Accountants,(FRN: 324110E)

Assam Financial

Corporation, Guwahati, Assam

Ramen Sarma & Co

Dated: Guwahati, the 15th July, 2016

Ramen Ch. Dev SarmaProprietor,M. No: 059607

22

23

AnnexureNote & Observation annexed to and forming part of our audit report for the year 2015-16

1. SYSTEM OF ACCOUNTING, INTERNAL CONTROL & INTERNAL AUDIT:

The corporation has 11 (eleven) numbers of branch offices in different places of Assam. In

addition, it has 3 (three) field offices in other north east states, one at Agartala (Tripura),

the other at Imphal (Manipur) and the next one is at Shillong (Meghalaya) respectively.

The corporation has a system of Internal Audit arrangement run by its own personnel to

cover its branches/field offices. Our examination of the internal audit reports of the

branches/ field offices indicates proper examination and follows up of accounts at the

branch/field office levels.

We observed that the day to day transactions at the branch/field offices are being

accounted for on cash basis of accounting. However, at the yearend receivables and

payables are taken into consideration to make the accounting system a mercantile one.

Thus provisions are made at the yearend only on the basis of available information and

estimates. The value of securities under possession is also accounted for on realization

basis only instead of adjusting at the time of provisioning for Bad Debts.

The internal audit system needs to refocus on the accounting of fixed assets and

classification of Loans & Advances on the basis of prudential norms prescribed by the

Reserve Bank of India.

2. FIXED ASSETS:

I. Till the year ended on 31.03.2008, while disposing any item of fixed assets the

Corporation used to straight way deduct the only realized value of the assets so disposed

from the block of assets concerned. However, it did not recognize any gain or loss arising

from disposal of such item of assets in the statement of Profit & Loss. Thus this practice

was contrary to the Accounting Standard 10, "Accounting for Fixed Assets" issued by

ICAI. Due to this practice followed by the Corporation till 31.03.2008, both the gross

block and the net block were over stated/ under stated to the extent of loss/gain on such

disposal of assets. As a result, the provision for depreciation during the years was also

erroneous which is not in accordance with AS-6 "Depreciation Accounting". In absence of

sufficient information, the effect of practice on the value of assets and the correct

depreciation is not quantified by the management. Moreover, estimated life of Asset is

not ascertained by the Corporation. However, due to lack of details, quantification and

its impact on the profit and loss and the Balance Sheet of the Corporation could not be

ascertained.

II. There is no specific program for physical verification of fixed assets as compared to the

book records.

3. INCOME FROM HOUSE PROPERTY:

The corporation has been earning rental income from Panjab National Bank for letting

out a place in the Head Office building for the running of an an ATM by the bank. The

24

bank however, has been deducting income tax at source @ 12.36% from the monthly rent

it has been paying.

Under section 194I of Income Tax Act, 1961 the applicable rate for TDS is 10% only andnot 12.36%.

For, ;Chartered Accountants,

Dated: Guwahati, the 15th July, 2016 (FRN: 324110E)

Ramen Sarma & Co

Ramen Ch. Dev SarmaProprietor,M. No: 059607

COMMENTS OF THE CORPORATION ON THE OBSERVATIONS MADE BY THE STATUTORYAUDITORS ON THE ACCOUNTS OF THE CORPORATION FOR THE F.Y.2015-16

25

ANNEXURE-B

A S S A M F I N A N C I A L C O R P O R A T I O N

BALANCE SHEET AS AT MARCH 31, 2016

27

Ramen Sarma & Co;Chartered Accountants,

(FRN: 324110E)

Ramen Ch. Dev SarmaProprietor,

M. No: 059607


PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2016

28

Ramen Sarma & Co;Chartered Accountants,

(FRN: 324110E)

Ramen Ch. Dev SarmaProprietor,

M. No: 059607

CASH FLOW STATEMENT


29

Ramen Sarma & Co;

Ramen Ch. Dev Sarma

Chartered Accountants,(FRN: 324110E)

Proprietor,M. No: 059607

0


30


31


32


33

34

AS

SA

M F

INA

NC

IAL

CO

RP

OR

AT

ION


35


36


37

Schedule L


38

Schedule 'M'

ACCOUNTING POLICIES

General

Method of Accounting

Asset Classification and Provisioning

Appropriation of Recoveries

1. The financial statements have been prepared under historical cost convention, (other thanrevalued land & buildings) by following going concern concept and conform to the statutoryprovisions of State Financial Corporations Act, 1951 and practices, unless otherwise prescribed. (AS 1 ).

2. The Corporation has prepared its accounts on accrual basis and as going concern concept.

3. The Cheques and other negotiable instruments received on the borrowers accounts are creditedas soon as the receipts are acknowledged.

Income Recognition

4. All income on Loans and Advances have been recognized in accordance with the guidelines onPrudential Norms on Income Recognition as prescribed by SIDBI from time to time.

5. In accordance with the guidelines on Asset Classification and Provisioning prescribed for StateFinancial Corporations by SIDBI, the Corporation has classified all loans and advances intoStandard, Sub Standard, Doubtful and Loss category and the provisioning is made as under.

Category of Assets Provisions made in % age

Standard Assets -

(I) MSME 0.25

(ii) CRE 1.00

(iii) Non-SME 0.40

Sub Standard Assets 15.00

Doubtful -

(i) Category - I 25.00

(ii) Category - II 40.00

(iii) Category - III 100.00

Loss Assets 100.00

6. The amounts received from the borrowers is first appropriated to recover Other Expensesincurred on their behalf, thereafter towards Interest dues and lastly towards Principal amountexcept in regard to units sold under Section 29 of the SFCs Act, 1951, where sale proceedsreceived is first appropriated to Other Expenses incurred on behalf of the borrowers, thereaftertowards principal and lastly to Interest. The receipts under One Time Settlement (OTS) which is

39

apportioned in the order of Principal, Other Expenses incurred on behalf of the borrowers andlastly towards Interest dues. (AS 9)

Fixed Assets

7. (a) The fixed assets except land & buildings which are revalued, are carried at cost ofacquisition and other expenses incurred till such assets are put to use less depreciation. (AS 10 )

(b) The Fixed Assets held by the Corporation have been physically verified by the process ofconducting the Internal Audit done by the Corporation's Official.

8. Depreciation on fixed assets has been provided under the written down value method at therates prescribed and applicable for the year under the Income Tax Act, 1961. The Corporationhas been charging depreciation on additions made during the 2nd half of the accounting year athalf the applicable rate while depreciation at full rates has been charged on additions madeduring the first half of the accounting year. The depreciation on revalued assets is transferred toRevaluation Reserve Account. (AS 6)

9. Investments are stated at cost.

10. The Corporation contributes to the Provident Fund which is administered by dulyconstituted and approved independent Trust by the name of AFC Employees' ProvidentFund Trust and such contributions are charged against revenue every year.

11. Gratuity of employees is covered under Group Gratuity Scheme of LICI to the extent ofpresent limit of Rs. 7.00 lakhs per employee. The Corporation's annual contribution underthe group gratuity scheme is based on the actuarially determined demand of LIC of India.(AS 15)

Depreciation

Investments

Retirement Benefits

Others


40

Schedule 'N'

NOTES ON ACCOUNTS

1. The Corporation has prepared a Cash Flow Statement for the year as per AS 3

2. Provision on Non-Performing Assets (NPAs) and Standard Assets as on 31.03.2016 is made inaccordance with the guidelines on Asset Classification and Provisioning norms issued by SmallIndustries Development Bank of India (SIDBI).

3. The contingent provision of 17.81 lakhs being provision for Standard Assets is shown underCurrent Liabilities & Provisions in Schedule 'D'.

4. The Corporation has revalued its Land & Building which has undergone significant changesince its acquisition in the year 1994 in order to relate them to its current fair value.

5. The asset category-wise details of the outstanding loan balances and the total provision made ason 31.03.2016 is as follows :

` `

(Rupees in Lakh)

6. Letters seeking confirmation of outstanding balances in loan accounts were sent by theCorporation to borrowers. Confirmations are received from some of the borrowers. However,those who have not returned and confirmed the balance, it is assumed that the Balances asintimated by the Corporation are correct.

7. The Corporation operates as a single profit centre and has concentrated its activity of termlending only, on single product. (AS 17)

8. The following key management Personnel of the Corporation drew the salaries and otherpayments from the Govt. of Assam from the date of holding such charges as they were alsoholding charges in the offices of the Govt. of Assam during the year as shown against their namesin addition to the charges of the Managing Director of the Corporation.

41

I. Shri Debeswar Malakar, IAS Additional Secretary, Finance Department, Govt. of Assamand Secretary, Assam State Vigilance Commission, Govt. ofAssam (Up to 25.05.2015.

ii. Dr. Anwaruddin Choudhury, IAS Divisional Commissioner, Barak Valley Division, Govt. ofAssam (w.e.f. 07.07.2015).

Other payments are shown under Personnel Expenses and Administrative Expenses in Schedule 'K'and 'L' respectively. (AS 18)

9. No provision has been made on the outstanding balances related to various staff advances asthey are considered to be fully secured.

10. An amount of 49,208.00 during 2002-2003 and 42,624.00 during 2003-04 aggregating91,832.00 was cash embezzlement by two nos of the employees of the Corporation againstwhom necessary departmental action has been undertaken and the embezzled amount of oneemployee is kept under the head "Suspense Account". As the other employee who filed AppealPetition in the Court withdrew the case; the litigated amount of 51,011.00 has been transferredand added to "Suspense Account". Against this amount a total amount of 1,16,100.00 has beenrecovered from their salary up-to 31.03.2015 and the balance amount of 26,743.00 is appearingunder the head "Suspense Account" in the Balance Sheet of even date (Schedule - I).

11. The Corporation has taken up non-fund based activities like Capital Investment Appraisal ofself financed projects for Central Capital Investment Subsidy under NEIIPP-2007 as per theguideline of the Ministry of Commerce & Industry, Govt. of India and preparation of ProjectReports at concessional rate to augment additional revenue. During the year the Corporationearned 22.23 lakhs.

12. The Income tax assessment are completed up to the assessment year 2013-14. The assessingofficer has assessed the amount to be refunded which has been adjusted against outstandingdemand without specifying the period. The matter is being reconciled for adjustment.

13. Accrued liability on account of Leave Encashment Benefits on retirement is not determined andnot provided for.

14. Contingent liabilities is estimated :

(a) On arrear Pay & Allowances arising due to 6th pay revision could not be ascertained andprovided for in the books of account as the matter is sub-judice.

(b) On account of difference in gratuity in respect of two nos. of retired employees amountingto 6.44 lakhs as the matter is sub-judice.

© On account of difference of leave encashment of 12 nos. of retired employees amounting to33.49 lakhs, as the matter is sub-judice.

15. Figures have been rounded up to nearest rupee.

16. Previous year's figures have been regrouped/re-arranged wherever considered necessary.

Names Held additional charges of

`

`

`

` `

`

`

`

`

ASSAM FINANCIAL CORPORATION

DISCLOSURE REQUIREMENT AS PER SIDBI GUIDELINES STATEMENT OF NET CAPITAL BASE AND NET RISK WEIGHTED ASSETS.

42

(Rupees in Lakh)

43

Ramen Sarma & Co;

Ramen Ch. Dev Sarma

Chartered Accountants,(FRN: 324110E)

Proprietor,M. No: 059607

SOURCES AND USES OF FUND(Rs. In Lakhs)

44

STATISTICAL ANNEXURES

INDEX TO ANNEXURE

1 Office-wise position of Loan Applications Received and

Disposed off during 2015-16

1.1 Statement of applications for Loan, Received, Sanctioned, Pending, etc A-1

1.2 Statement of office wise application for Loan Received, Sanctioned,Pending up to 31-03-2016

1.3 The Comparative Position of Loan Applications dealt with by theCorporation during the last three (3) Financial Years

1.4 Age-wise position of Applications Pending as on 31st March, 2016 A-4

1.5 Loan Sanctioned by Different Authorities during last 3 years A-5

1.6 State-wise Sanction of Loans during last 3 years A-6

1.7 Size-wise Classification of Loan during last 3 years A-7

1.8 The Corporation Net Effective Sanction, Disbursement andOutstanding of Loans and Advances since inception till 31.03.2016

1.9 Financial Assistance under Different Scheme A-9

1.10 Statement of Breakup of Disbursement and comparativeposition of disbursement of term Loan to effective sanctionduring last three years

1.11 Statement showing Branch-wise Balance outstanding ofRegular cases in last 3 years

2 Amount-wise Classification of Loans and Advances as on 31.03.2016 B

3 Industry-wise Classification of Loans and Advances as on 31.03.2016 C

4 State-wise Classification of Loans and Advances as on 31.03.2016 D

5 Constitution-wise Classification of Loans And Advances as on 31.03.2016 E

6 Statement showing the Lag between Sanction and Disbursement ofLoans during the last three (3) years

7 The Defaulted unit of the Corporation as on 31.03.2016 G

7.1 Position of Repayment of Principal and payment of G-1

8 Age-wise Analysis of Arrears as on 31.03.2016 H-a

8.1 Amount-wise Analysis of over dues as on 31.03.2016 H-b

9 Sector-wise Beak-up of overdue as on 31.03.2016 I

10 Industry-wise Classification of overdue as on 31-03.2016 J

11 State/District-wise overdue Position as on 31.03.2016 K

12 Particulars in respect of Loans and Advances Referred L

13 Micro Finance Operation

A

A-2

A-3

A-8

A-10

A-11

F

Interest as on 31.03.2016

(Excluding Suit Filed Cases)





to in the Balance Sheet

ANNEXURE

46

47

STA

TE

ME

NT

OF

AP

PL

ICA

TIO

NS

FO

R L

OA

N R

EC

EIV

ED

, S

AN

CT

ION

ED

,PE

ND

ING

ET

C U

PT

O 3

1M

AR

CH

,2016

ST

in lakhs

`

AN

NE

XU

RE

-A

48

STA

TE

ME

NT

OF

AP

PL

ICA

TIO

NS

FO

R L

OA

N R

EC

EIV

ED

, S

AN

CT

ION

ED

, P

EN

DIN

G E

TC

AN

NE

XU

RE

-A-1

in L

akhs

`

49

OF

FIC

E-W

ISE

PO

SIT

ION

OF

LO

AN

AP

PL

ICA

TIO

NS

RE

CE

IVE

DA

ND

DIS

PO

SE

D O

F D

UR

ING

2015-1

6

in L

akhs

`

AN

NE

XU

RE

-A-2

50

THE COMPARATIVE POSITION OF LOAN APPLICATIONS DEALT WITH BY THE CORPORATIONDURING THE LAST 3 (THREE) FINANCIAL YEARS

in lakhs`

ANNEXURE-A-3

AGE-WISE POSITIONS OF APPLICATIONS PENDING AS ON 31 MARCH,2016ST

ANNEXURE-A-4

in lakhs`

51

LOAN SANCTIONED BY DIFFERENT AUTHORITIES DURING LAST 3 YEARS

in lakhs`

ANNEXURE-A-5

STATE WISE SANCTION OF LOANS DURING LAST 3 YEARS

in lakhs`

ANNEXURE-A-6

52

SIZE-WISE CLASSIFICATION OF LOANS DURING LAST 3 YEARS

in lakhs`

ANNEXURE-A-7

53

THE CORPORATION'S NET EFFECTIVE SANCTION , DISBURSEMENT ANDOUTSTANDING OF LOANS AND ADVANCES SINCE INCEPTION

TILL THE 31 MARCH, 2016ST

in lakhs`

ANNEXURE-A-8

54

FINANCIAL ASSISTANCE UNDER DIFFERENT SCHEMES

in lakhs`

ANNEXURE-A-9

55

DISBURSEMENT

ANNEXURE-A-10

COMPARATIVE POSITION OF DISBURSEMENT OF TERM LOAN TO EFFECTIVE SANCTIONDURING THE LAST THREE YEARS

56

STA

TE

ME

NT

SH

OW

ING

BR

AN

CH

WIS

E B

AL

AN

CE

OU

TS

TA

ND

ING

OF

RE

GU

LA

R C

AS

ES

IN

LA

ST

TH

RE

EY

EA

RS

in lakhs

`

AN

NE

XU

RE

-A-1

1

AMOUNT -WISE CLASSIFICATION OF LOANS ANDADVANCES AS AT 31 MARCH,2016

ST

in lakhs`

ANNEXURE-B

57

INDUSTRY-WISE CLASSIFICATION OF LOANS AND ADVANCES AS AT 31 MARCH, 2016ST

in lakhs`

ANNEXURE-C

58

STATE-WISE CLASSIFICATION OF LOANS AND ADVANCESAS AT 31 MARCH, 2016

ST

in lakhs`

ANNEXURE-D

59

CO

NS

TIT

UT

ION

-WIS

E C

LA

SS

IFIC

AT

ION

OF

LO

AN

SA

ND

AD

VA

NC

ES

AS

AT

31

MA

RC

H, 16

ST

in lakhs

`

AN

NE

XU

RE

-E

60

STATEMENT SHOWING THE LAG BETWEEN SANCTION & DISBURSEMENTOF LOANS DURING LAST THREE YEARS

in lakhs`

ANNEXURE-F

61

THE DEFAULTED UNIT OF THE CORPORATION AS ON 31 MARCH, 2016ST

in lakhs`

ANNEXURE-G

PO

SIT

ION

OF

RE

PA

YM

EN

T F

OR

PR

INC

IPA

LA

ND

PA

YM

EN

T O

F IN

TE

RE

ST

AS

AT

31

MA

RC

H, 2016

ST

in lakhs

`

AN

NE

XU

RE

-G-1

62

AGE-WISE ANALYSIS OF ARREARS AS AT 31 MARCH, 2016(EXCLUDING SUIT FILED CASES)

ST

in lakhs`

ANNEXURE-H-a

AMOUNT-WISE ANALYSIS OF ARREARS AS AT 31 MARCH, 2016(EXCLUDING SUIT FILED CASES)

ST

ANNEXURE-H-b

63

in lakhs`

SECTOR-WISE BREAK-UP OF ARREARS AS ON 31-03-2016(EXCLUDING SUIT FILED CASES)

in lakhs`

ANNEXURE-I

64

in lakhs`

ANNEXURE-J

65

INDUSTRY-WISE CLASSIFICATION OF OVERDUE AS ON 31-03.2016(EXCLUDING SUIT FILED CASES)

STATE/DISTRICT-WISE OVERDUE POSITION AS ON 31.03.2016(EXCLUDING SUIT FILED CASES)

in lakhs`

ANNEXURE-K

66

in lakhs`

ANNEXURE-L

67

PARTICULARS IN RESPECT OF LOANS AND ADVANCES REFERRED TO IN THE BALANCE SHEET

MICRO FINANCE OPERATION

STATEMENT OF APPLICATIONS FOR LOAN RECEIVED , SANCTIONED, PENDING ETC

in lakhs`

STATEMENT OF APPLICATIONS FOR LOAN RECEIVED, SANCTIONED,PENDING ETC. UP TO 31-03-2016

in lakhs`

ANNEXURE-A-1

ANNEXURE-A-2

70

THE COMPARATIVE POSITION OF LOAN APPLICATIONS DEALT WITH BY THECORPORATION DURING THE LAST 3 FINANCIAL YEARS

in lakhs`

AGE-WISE POSITIONS OF APPLICATIONS PENDING AS ON 31 MARCH,2016ST

in lakhs`

ANNEXURE-A-3

ANNEXURE-A-5

71

FINANCIAL ASSISTANCE UNDER DIFFERENT SCHEME

YEAR WISE SANCTION AND DISBURSEMENT OF LOAN

in lakhs`

in lakhs`

ANNEXURE-A-4

ANNEXURE-A-4

LOAN SANCTIONED BY DIFFERENT AUTHORITIES IN LAST 3 YEARS

in lakhs`

SIZE WISE CLASSIFICATION OF LOANS DURING LAST 3 YEARS

in lakhs`

ANNEXURE-A-6

ANNEXURE-A-7

72

AMOUNT WISE CLASSIFICATION OF LOANS AND ADVANCES AS ON 31-03-2016

in lakhs`

ANNEXURE-B

73

DISTRICT WISE CLASSIFICATION OF LOANS AND ADVANCES AS ON 31-03-2016

in lakhs`

ANNEXURE-C

74

CONSTITUTION WISE CLASSIFICATION OF LOANS AND ADVANCES AS ON 31-03-2016

in lakhs`

YEAR WISE BREAK UP OF DUES AND RECOVERY POSITION SINCE INCEPTION UP TO 31-03-2016

in lakhs`

YEAR WISE BREAK UP OF MICRO FINANCE BENEFICIARIES ASSISTED SINCE INCEPTION UP TO 31-03-2016

ANNEXURE-D

ANNEXURE-E

ANNEXURE-F

75

PO

SIT

ION

OF

RE

PA

YM

EN

T F

OR

PR

INC

IPA

LA

ND

PA

YM

EN

T O

F IN

TE

RE

ST

AS

ON

31-0

3-2

016

in lakhs

`

AN

NE

XU

RE

-G

76

77

LIST OF MICRO FINANCE INSTITUTION ASSISTED SINCE INCEPTIONin lakhs`

ANNEXURE-H

78

YEAR WISE LIST OF DISBURSEMENT TO MICRO FINANCE INSTITUTIONS SINCE INCEPTION

ANNEXURE-I

61 Annual General Meeting of AFC held on 31 July,2015.st st

In-house Training conducted by AFC for capacity building,skill development vis-à-vis performance improvement

Annual Report 2015-2016

Printed at Brahmaputra Offset, M.C. Road, Guwahati-3, Phone : 94351 48982

HEAD OFFICEVittiya Bhavan

M. S. Road, PaltanbazarGuwahati - 781008. AssamTel: 0361-2739839/2633658

fax : 0361-2519859Email:[email protected] &

[email protected]: www.afconline.gov.in

n

n

n

n

n

GENERAL TERM LOAN SCHEME

WORKING CAPITAL TERM LOAN SCHEME

WORKING CAPITAL REVOLVING FUND

LOAN SCHEME

SCHEME FOR MEDICAL

PROFESSIONALS

EQUIPMENT FINANCE SCHEME

n

n

n

n

CHIEF MINISTER'S MICRO

FINANCE SCHEME

MICRO

FINANCE SCHEME

LOAN IN COLLABORATION WITH

OTHER FINANCIAL INSTITUTION

TRANSPORT LOAN SCHEME

KANAKLATA

Micro Finance Beneficiary Medical Diagnostic Center

hon'ble minister, industries & commerce, public

Documents