In which year RSIC (Rajasthan Small Industry Corporation Ltd.) was accorded the status of a public limited company?

The correct answer is 1975.

Key Points

• The Rajasthan Small Industries Corporation Limited (RSIC) was established in 1961 to support and promote small-scale industries in Rajasthan.
• In 1975, RSIC was granted the status of a public limited company to enhance its operational scope and governance structure.
• This change enabled RSIC to expand its business activities, including the export promotion of handicrafts, handlooms, and other products from Rajasthan.
• RSIC plays a significant role in developing and providing marketing assistance for small and medium enterprises (SMEs) in Rajasthan.
• The corporation is also involved in initiatives like the establishment of industrial estates and providing financial and infrastructural support to small industries.

Additional Information

• Public Limited Company:
  • A public limited company is a type of business entity that offers its shares to the general public and is regulated under the Companies Act.
  • It requires a minimum number of directors and shareholders and has stricter disclosure and reporting requirements compared to private companies.
  • Being a public limited company allows entities like RSIC to raise capital through public investments and expand their operational capabilities.
• Role of RSIC in Exports:
  • RSIC promotes the export of Rajasthani handicrafts, handlooms, and other traditional products to international markets.
  • It acts as a facilitator for small industries to participate in global trade fairs and exhibitions.
• Industrial Estates Development:
  • RSIC is involved in setting up industrial estates equipped with essential infrastructure to support small-scale industries.
  • These estates provide facilities like roads, power supply, and water to foster industrial growth.
• Support to Small Industries:
  • RSIC provides financial assistance, raw material supplies, and marketing platforms to small and medium-sized enterprises (SMEs).
  • It also offers training and skill development programs for artisans and entrepreneurs.