Global Journal of Management and Business Research, B: Economics and Commerce, Volume 23 Issue 3

XI. T amil Nadu U rban F inance and I nfrastructure D evelopment C orporation L imited (TUFIDCO) The Tamil Nadu Urban Finance and Infrastructure Development Corporation (TUFIDCO) was incorporated under the Companies Act, 1956 on 21-03- 1990. As part of its primary objective, the corporation offers financial assistance and advice to Local Bodies, Corporations, Boards, Authorities and parastatal agencies for their development schemes. It also serves as the Nodal Agency for Government schemes and programmes in the state. Its Corporate Identification Number (CIN) is "U65191TN1990SGC018909". XII. S ources of F und for L ending TUFIDCO extends funding support to infrastructure development projects in the state by borrowing from banks and mobilising public deposits as well as equity capital, reserves, and surpluses. Table – 4: Share Capital of Tufidco Share Capital of Tufidco Authorized share capital Rs.50 Crs. Issue and paid Up Rs. 32 Crs. Secondary Data Table – 5: Share Holders of Tufidco Sl. No. Shareholders category Amount of paid up share capital (Rs. In lakh) Share Holding in percentage 1. Government of Tamil Nadu 3102.00 96.9375% 2. Urban Local Bodies. 78.00 2.4375% 3. Housing and Urban Development Corporation Ltd. 20.00 0.6250% Total 3200.00 100% Source: Secondary Data XIII. T ufidco F unded to V arious S chemes Here is a list of projects for which financial assistance can be extended under this scheme. • Construction of Commercial/Shopping complex. • Construction of an Office Complex. • Bus Terminals. • Water Supply Schemes. • Drainage Schemes. • Sites and Services Schemes. • Development of Truck Terminals. • Street Lighting for major roads. • Traffic improvement programme. • Social amenities. • Provision of Tourist facilities. • Construction/improvement of major roads, important roads including ring, arterial, by-pass, link road, small bridges, Culverts etc. • Construction/Upgradation of storm water drains. • Crematorium project. • Warehouse/Godowns • Infrastructure for Housing scheme. • Housing and Sites & Service schemes • Any other projects which is/are in the nature of infrastructure development. XIV. T amil Nadu U rban I nfrastructure D evelopment and R enewal F und (TNUIDRF) In June 2015, the Indian government launched the Smart Cities Mission. Smart Cities Mission aims to create world-class cities based on the aspirations and needs of Indian citizens. TUFIDCO is Tamil Nadu's Mission Directorate for the Smart Cities Mission. The Government of India has selected 100 cities for upgrading infrastructure and smart applications to develop as 'Smart Cities'. Besides improving quality of life and efficiency of urban operations, it will meet the needs of present and future generations in terms of economic, social, and environmental aspects. Across Tamil Nadu, 11 cities have been selected for the development of 'Smart Cities. TUFIDO provided financial assistant to state government for the smart cities projects under Tamil Nadu Urban Infrastructure Development and Renewal Fund (TNUIDRF). The project is being carried out by a Special Purpose Vehicle (SPV), which was formed at city-level. Tamil Nadu has created the Tamil Nadu Urban Infrastructure Development and Renewal Fund with effect from 1.4.2006, via G.O.Ms.No.49 dated 30.03.2007 of the Municipal Administration and Water Supply Department. Fund operations will be undertaken by the Chairman 36 Global Journal of Management and Business Research Volume XXIII Issue III Version I Year 2023 ( ) B © 2023 Global Journals Smart Cities Digital Transformation: Funded by Tufidco in Tamil Nadu Source: