Haryana Financial Corporation

Haryana Financial Corporation was established under the State Financial Corporations Act of 1951 as a state-level development financial institution. Its primary purpose was to offer financial assistance to industrial units, with a special focus on small-scale sectors within Haryana. The company stopped sanctioning new loans from May 2010 due to stiff competition from banks and other financial entities. Currently, the corporation's main thrust is the recovery of its existing loans, especially the bad debts from various borrowers. A proposal for the company's liquidation has been sent to the State Government, which has appointed a Nodal Officer to complete the process. The Corporation has repaid all its borrowings and is now debt-free, with no outstanding loans against its name.;