Sachin Malik: Uttar Pradesh Minister for Industrial Development, Export Promotion, NRI and Investment Promotion, Nand Gopal Gupta ‘Nandi’, said that the Uttar Pradesh Financial Corporation (UPFC) Plays a significant role in Promoting industries in the State. He directed officials to make financial assistance Schemes more effective, transparent and investor-friendly.
Minister Nandi was addressing a review meeting of the Uttar Pradesh Financial Corporation (UPFC) held at PICUP Bhawan in Gomti Nagar. During the meeting, he conducted a detailed review of the corporation functioning, loan disbursement, recovery mechanisms and facilities being Provided to industrial Units.
He Stated that the Process of loan disbursement for entrepreneurs Should be Simple and time-bound so that investors’ confidence can be Strengthened. He also instructed officials to ensure speedy disposal of Pending cases. The minister further directed that regular communication Should be maintained with entrepreneurs who have availed loans so that the recovery system remains organized and effective.
Minister Nandi said that under the leadership of Chief Minister Yogi Adityanath, Uttar Pradesh has emerged as one of the country leading investment destinations. In such a scenario, the responsibility of the financial corporation increases further to Provide maximum support to enterprises, thereby Promoting both investment and employment at the local level. He instructed officials to remove obstacles in loan recovery and assured all Possible support in this Regard.
The minister also directed that, considering the convenience of defaulters, necessary amendments may be made in the OTS (One Time Settlement) Policy so that more Promoters can avail its Benefits.
During the meeting, Additional Chief Secretary (Industrial Development) Alok Kumar instructed officials to Prepare a comprehensive Proposal to make the One Time Settlement (OTS) Scheme more effective and industry-friendly. He said that representatives of the Uttar Pradesh Power Corporation Limited and Uttar Pradesh State Industrial Development Authority Should also be included in the Proposal so that the interests of all Stakeholders are adequately Addressed.
He added that Participation of representatives from the Power Corporation and UPSIDA would make the Scheme more Practical, transparent and beneficial for industries. This arrangement would also ensure that buyers of the corporation assets are not burdened with Pending dues of UPSIDA and the electricity Department.
The Managing Director informed the meeting that UPFC is implementing an OTS Policy to improve loan recovery. Mortgaged assets have been auctioned through e-auction since 2025, ensuring Greater Participation of bidders and enabling the Sale of more units through a transparent online Process.
It was also informed that UPFC has so far distributed around ₹3,249 crore as long-term loans to approximately 41,358 industrial units, out of which more than ₹2,900 crore has already been Recovered.
The Managing Director further Stated that during the last three Years, 119 cases have been resolved, resulting in liquidation of assets worth ₹128 crore. The corporation has also earned net Profits during the Past three Years.
Senior officials and employees of UPFC were Present in the Meeting.
