Himachal Pradesh Financial Corporation





Himachal Pradesh Financial Corporation (HPFC) was established under the State Financial Corporations Act, 1951, with the basic objective of promoting and developing small and medium enterprises in the State having special focus on spreading industrial culture in the rural, semi-urban and backward areas of Himachal Pradesh. The Corporation is owned by the State Government jointly with SIDBI and is functioning under the administrative control of the State Government.

The Managing Director of HPFC is appointed by the State Government and Chairman by the SIDBI. The Directors on the Board of the Corporation are highly professional and consists of senior IAS officers of the State Government, representative from SIDBI, Banks, Life Insurance Corporation and individual shareholders.

It has operated a number of financial assistance schemes for the benefit of the entrepreneurs such as scheme for marketing activities, equipment finance scheme, special schemes for assistance to ex-servicemen and single window scheme, etc. The Corporation has sanctioned loan amount of Rs. 726.73 crores during 49 years of operation up to 31st March 2017 out of which loans of Rs. 530.38 crores have been released to 4521 borrowers.

Board of Directors

Shri V.C. Pharka, IAS
Chief Secretary

Nominated by the SIDBI in consultation with the Government of Himachal Pradesh

Dr. Adidhela Jaivara Prasad, IAS
Addl. Chief Secretary (Industries)

Nominated by the Government of Himachal Pradesh

Shri Balbir Singh, DGM

Nominated by the Small  Industries Development Bank of India

Shri V.K. Dhar,
Senior Divisional Manager LIC

Nominated by the Life Insurance Corporation of India

Shri Vishesh Shrivastava,
Deputy General Manager,

Nominated by the Punjab National Bank

Shri H. S. Choudhry, IAS

Managing Director
Appointed by the Government of Himachal Pradesh


Last Reviewed/Updated: 21-August-2017