Gujarat State Financial Services Ltd. (GSFS) is a Government of Gujarat undertaking and is registered with R.B.I as a Non Banking Financial Company (NBFC). It has been given the mandate by the State Government to manage the surplus funds of various Government of Gujarat controlled organizations and PSUs of the State. Thus, it acts as an in- house fund manager to the various state owned entities. The State Government has directed all the State Government owned entities to park all their surplus funds with GSFS. In view of this, GSFS offers two options to the state owned entities for placement of their surplus funds, namely,... The funds received by GSFS from the Government entities are provided to the other state owned entities, which are in need of funds, at a lower rate as compared to the other banks. This saves them from high borrowing costs. Moreover, GSFS also helps only the GoG undertakings by providing finance at a cheaper rate to enable it to prepay its high cost debts which..
Also known as: Gujarat State Financial Services, Gujarat State Financial Services Ltd.