Govt Manipur Industrial Development Corporation Limited (MNIDCO) Jobs 2023 - Sarkari Naukri

Manipur Industrial Development Corporation Limited (MANIDCO) formerly Manipur Small Industries Corporation Limited (MSIC) was incorporated in the year, 1969 under the Companies Act.1956 (No. 1 of 1956). The present authorized Share Capital of the Company is Rs. 16.00 crore. IDBI.s Share is Rs. 4.21 crore. The Corporation is multi -functional company which acts as (i) State Financial Corporation (SFC), (ii) State Industrial Development Corporation (SIDC) and (iii) State Infrastructure Development Corporation. It is the only financial institute of the State. The Company has to cater long term credit requirement o f industry. MANIDCO is governed by a Board of Directors. All the members of the Board are representatives o f the State Government and the Industrial Development Bank o f India (IDBI)/ Small Industries Development Bank o f India (SIDBI). It is worthwhile to mention that there was hardly fund available in the Corporation for industrial activities till the middle of 1980. In order to clear the backlog in industrialization, the State Government took initiative to revive the activities of MANIDCO with a very low budgetary support till 1985-86. Industrial Development Bank of India (IDBI) also extended active support in this regard.