West Bengal Financial Corporation (WBFC ) was established under the State Financial Corporation Act, 1951. The WBFC provides loans, assistance and term finance to small and  medium scale industries.

Technical guidance is given to entrepreneurs for project formulation and organisation, restructuring etc. WBFC has formed Enterpreneurs Assistance Cell which holds regular meetings with commercial banks, WBSEB, WBSIC, SISI, WEBCON etc. to render services to the units seeking working capital assistance. The Cell also renders other services like arranging for various inputs like power, industrial sheds, working capital finance etc. During FY 1998 alone the cell has been able to sort out various problems related to working capital refinance, subsidy margin money, electricity etc. to 34 units from various banks.

Policy decision taken to diversify activities: 

Short term finance by way of Working Capital Term Loan to seasonal industries vis. Tea gardens, rice mills, cold storages etc. These loans are self liquidating in character and do not qualify for refinance from SIDBI, IDBI.


During the period under review, the Corporation had completed itsfirst phase of Computerisation plan covering the activities of theCorporation like loan proposal processing, legal documentation,project consultancy, stationery management etc., under computerisedsystems and all Departments at head Office had been interconnectedthrough.

As On The 30th June 1999 

Shri A. Bandyopadhyay, Chairman
Shri Samar Ghosh, IAS
Shri S.K. Ghosh
Dr. A. Sahoo
Shri K.P. Ramakrishnan
Shri Brij Mohan
Shri A.K. Chatterjee
Shri A.K. Mukherjee
Shri R.V. Panchapakesan
Shri M. K. Basu
Shri D. K. Basu