UTTAR PRADESH FINANCIAL CORPORATION was established in 1954 by the Government of Uttar Pradesh under SFC’s Act 1951 (Central Act) to provide support for industrial development in the state of Uttar Pradesh. Since its establishment, Corporation had disbursed loans of Rs.3200 crore to about 40000 industrial units and contributed in investment of about Rs.5000 crore in the state of Uttar Pradesh and helped in employment generation of 821000 persons.The corporation is presently engaged in implementing various state govt. industrial promotional schemes viz; Audhyogik Nivesh Protsahan Yojana ,Infrastructure Interest Subsidy Scheme, Capital Investment Interest Subsidy Scheme, Quality Control Equipment Interest Subsidy Scheme and contributing an important role towards industrial development of the state .
The state govt. vide notification GO No. 1098/20.1.EUO-143/14 Dated 10 July, 2014 has been appointed to perform the work of NRI department including organizing UP PRAVASI DIWAS (UP NRI DAY) .Further UPFC has been nominated to work as state govt. recruiting agency for overseas employment and registered with Ministry Of External Affairs under Emigration Act-1983 vide RC no B-0742/UP/COM/1000+5/9159/2015 (valid up to 07-02-2021).
It will have important role to stop activities of illegal recruitment ,exploitation of emigrants and will also encourage overseas employment from the state and the Northern India .It is the only state govt.agency in Northern India and one of the six state govt agencies in the country permitted to recruit Indian nurses and female domestic worker for overseas employment .
In a step ahead to opening of NRI Deptt., the Government of Uttar Pradesh has taken a new initiative to set up its Overseas Recruitment Agency for placing State residents’ competence on the world map through its own Corporation i.e. Uttar Pradesh Financial Corporation.
India’s wealth of human resources put it in an enviable position. Specially the quality of the resources available is very high. The State of Uttar Pradesh is having largest population with large number of Business Schools, Engineering Colleges, Polytechnic Institutes, Medical, Para-Medical, Nursing Colleges and ITIs providing a steady pool of professionally qualified, skilled, semi skilled and unskilled work force of international standard. The State of Uttar Pradesh is meeting approx 30% of demand of skilled and unskilled work force from India to ECR countries. It has still a large capacity which can fill the gap of demand of man power at various functional level world-wise.
Ministry of Overseas Indian Affairs (Office of Protector General Emigrants), now Ministry of External Affairs, Govt. of India has issued Registration Certificate bearing No.B-0742/UP/COM/ 1000+/5/9159/2015 to U.P. Financial Corporation for overseas recruitment of skilled & unskilled workers, professionals etc. under Emigration Act 1983. The Registration Certificate is valid upto 07/02/2021, which can be renew before 3 months of expiry of validity.