Directorate of Institutional Finance (DIF) is a Directorate under Department of Finance. It is headed by post of the director in a cadre post who is senior officer from Indian Administrative Service. DIF is basically entrusted with responsibilities relating to coordination of procurement of institutional finance for all externally aided projects of the State Government. It also coordinates with various Government Departments, Corporations, Boards, Financial Institutions, Reserve Bank of India, and Government of India in the matter relating institutional finance and implementation Government sponsored programmes. Broad responsibilities of DIF is as under:
- Monitoring role for ensuring adequate flow of institutional finance for several government sponsored programmes.
- Promotional role to maximize institutional finance for development activities of the State.
- Intermediary role to coordinate with banks/ other financing institutions to sort out problems between governmental agencies and banks.
- Project Management and Coordination for externally aided projects as well as to provide general project preparation/ planning support to concerned departments and agencies of government.
- Monitoring progress of externally aided projects in the State.
- To draft yearly State Credit Plan for government sponsored employment-oriented schemes under poverty alleviation. The objective is to prepare State Credit Plan is to dovetail government plans with bankers plan thereby to assist district level bank functionaries to formulate their district credit plans.
- Implementation of Bank Recovery Incentive Scheme.