Amendment status not verified — confirm the current text below against the official source.
(1) Subject to the provisions of this Act, the functions of the Corporation shall be to undertake generally the task of economic welfare of the members of the Scheduled Castes, the Scheduled Tribes and the Other Backward Classes through industrial and commercial activities. (2) In particular and without prejudice to the generality of the provisions of clause (1), the functions of the Corporation shall be— (a) to plan and promote training programmes for increasing the skill and efficiency in different traditional occupations and to establish vocational institutes for the purpose; (b) to promote employment opportunities in various trades and crafts, and to sanction stipends for training in different training institutes; (c) to provide necessary infrastructure in connection with all traditional occupations; (d) to encourage and undertake setting up of manufacturing and processing units on commercial basis; (e) to promote entrepreneurship by sponsoring self-employment programmes in different trades, crafts and business with the assistance of various financial institutions; (f) to arrange the supply of necessary inputs at reasonable prices for different trades and crafts and to acquire and initiate suitable machinery and equipments for the purpose of hiring out; (g) to plan, promote and undertake, on its own or in collaboration with such agencies as may be approved by the Corporation, programmes of agricultural or horticultural development, marketing, processing, supply and storage of agricultural produce, small scale industry, building construction, transport and such other business, trade or activity as may be approved in this behalf by the State Government; (h) to arrange for in-service training, apprenticeship and dealership in different factories, commercial organisations and industrial complexes; (i) to provide financial assistance by way of grants, subsidies and loans, in cash or kind, for such purposes as may be approved by the Corporation and also by providing cash credit accommodation against hypothecation of their products; (j) to find out resources for financing all programmes to be undertaken by the Corporation and, to that end, to receive grants and gifts, raise loans, issue bonds and debentures, draw, make, accept, discount, execute and issue promissory notes, bills of exchange, hundies. bills, warrants, debentures and other negotiable instruments; Officers and employees of the Corporation not to have any interest in contract etc. Authentication. 6 THE KOLKATA GAZETTE, EXTRAORDINARY, SEPTEMBER 13, 2017 [PART III The West Bengal Scheduled Castes, Scheduled Tribes and Other Backward Classes Development and Finance Corporation Act, 2017. (Sections 14-16.) to invest or deposit surplus funds in Government securities or in such other means to be approved by the Corporation; to continue and to run the works and programmes transferred to the Corporation by the State Government for operation and to adopt suitable changes for their better execution; to discharge such other functions as may be prescribed or as are supplemental, incidental or consequential to any of the functions conferred on it under this Act. General powers of the Corporation. Corporation to act on business principles.