THE INFORMATION IN RESPECT OF HARYANA FINANCIAL CORPORATION IS GIVEN HERE UNDER |
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4.bi |
The particulars of its organisation, functions and duties. |
BRIEF PROFILE OF ORGANIZATION
The Corporation has stopped fresh sanctions since May, 2010 due to stiff competition from banks/other financial institutions and other financial constraints and is in the process of winding up. With a view to maximize recovery from defaulting units and reduce its Non Performing Assets (NPA) level, the Corporation introduced settlement settlement policies i.e the Policy for Compromise Settlement of Non Performing Assets of HFC – 2011 and the Policy for Compromise Settlement of Loss Assets of HFC – 2011 to enable the defaulting borrowers to repay their dues which were extended from time to time. |
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4.bii |
The powers and duties of its officers and employees. |
Haryana Financial Corporation has been established under the State Financial Corporations’ Act, 1951 and the powers and duties of its Directors and conduct of its business is regulated by the provisions of the State Financial Corporations’ Act, 1951 and other enactments under various laws. The highest decision making authority in the Corporation is the Board of Directors. The powers and duties of its Officers and employees are decided by the Board of Directors and are in terms of the service regulations. However, the Board of Directors has delegated the powers to the Chairman and Managing Director, except a few for conducting day-to-day affairs of the Corporation.. |
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4.biii |
The procedure followed in the decision making process, including channels of supervision and accountability. |
The decisions making process in the Corporation involves the following Channels:
Overall management of the Corporation vests with the Board of Directors of the Corporation, the highest decision making body within the Corporation. All the powers vest with the Board. For smooth working of the Corporation, Board has delegated powers to the Managing Director. However, the day-to-day management of the Corporation is entrusted with the Managing Director who is supported by the General Manager, other Senior Officers and staff of the Corporation. |
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4. biv |
The norms set by it for the discharge of its functions. |
For discharging their various functions, employees of the Corporation use following Acts, Rules and norms, which are available in the library of the Corporation (which is for use of staff only)/respective divisions in the Head Office of the Corporation :-
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4.bv |
The rules, regulations, instructions, manuals and records, held by it or under its control or used by its employees for discharging its functions. |
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4.bvi |
A statement of the categories of documents that are held by it or under its control. |
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4.bvii |
The particulars of any arrangement that exists for consultation with, or representation by, the members of the public in relation to the formulation of its policy or administration thereof. |
Haryana Financial Corporation is governed by the State Financial Corporations’ Act, 1951 and guidelines/ directions issued by the State Govt. and SIDBI from time to time. Corporation’s quarterly results and annual results/ reports are published in the leading newspapers and on the Corporation’s website periodically for information of Public as well as Shareholders. Shareholders can raise issues concerning policies of the Corporation in the Annual General Meetings. The highest decision making authority in the Corporation is the Board of Directors having two directors representing public shareholders. |
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bviii |
A statement of the boards,councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice, and as to whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of which meetings are accessible for public. |
i) Board of Directors: Click here ii) Audit Committee : The Audit Committee of the Corporation has been constituted by the Board of Directors of the Corporation and is comprised of Special Secretary Finance, Finance Department as Chairman of the Committee, Director nominated by SIDBI and two Directors nominated /elected by Banks/ LIC. iii) Committee of Directors: The Committee of Directors of the Corporation has been constituted by the Board of Directors of the Corporation and is comprised of Managing Director as Chairman of the Committee, Director nominated by SIDBI and two Directors nominated /elected by Banks/ LIC. The Committee has been constituted u/s 41 of the Listing Agreement [now Regulation 33 of SEBI(LODR) Regulations, 2015] to approve/take on record the quarterly financial results of the Corporation. iv) Shareholders/ Investors Grievance Committee: The Shareholders/ Investors Grievance Committee of the Corporation has been constituted by the Board of Directors of the Corporation and is comprised of Director nominated by SIDBI, two Directors nominated /elected by Banks/ LIC and directors nominated/elected by the public shareholders |
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4.bix |
Adirectory of its officers and employees. |
A list of senior Executives of the Corporation and Branch Managers is available on the website of the Corportaion,which is updated from time to time.Any person interested in seeking the information about any other employee/officer can approach the Corporation in that behalf. The list of Offices/branches is already available in the website for reference. |
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4.bx |
The monthly remuneration received by each of its officers and employees,including the system of compensation as provided in its regulations. |
Remuneration of Officers/employees is fixed as per the Service Regulations. |
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4.bxi |
The budget allocated to each of its agency,indicating the particulars of all plans, proposed expenditures and reports on disbursements made. |
Not applicable to Haryana Financial Corporation. |
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4.bxii |
The manner of execution of subsidy programmes, including the amounts allocated and the details of beneficiaries of such programmes. |
Not applicable to Haryana Financial Corporation. |
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4.bxiii |
Particulars of recipients of concessions,permits or authorization granted by it. |
Not applicable to Haryana Financial Corporation. |
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4.bxiv |
Details in respect of the information, avialable or it held by it, reduced in an electronic form. |
All the general information regarding rules and regulations governing recovery etc. are already available in the Corporation's website. |
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4.bxv |
The particulars of facilities available to citizens for obtaining information,including the working hours of a library or reading room,if maintained for public use. |
The citizens can visit Head Office/Branch/Sub-Offices of the Corporation for obtaining information regarding facilities/services provided by the Corporation. Further, the citizens can also visit Corporation's website ww.hfcindia.org.The public can also approach Public Information Officers for obtaining information which is not available in the website. |
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4.bxvi |
The names,designations and other particulars of the Public Information Officers. |
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