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AFC India Limited was incorporated on April 10, 1968 as a Public Limited Company with an Authorised Capital of Rs. 100 crore and Paid-up Capital of Rs. 5 crore by the then private sector commercial banks to “finance agriculture by all possible means”.(Currently the Paid-up Capital is Rs. 15 crore). Subsequent to the nationalisation of fourteen major Indian Scheduled Commercial Banks on July 19, 1969, AFC repositioned itself as a Technical Support Institution for facilitating accelerated growth of Indian agriculture. AFC has now blossomed into a diversified reputed consultancy organisation.
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AFC India Limited (AFC) is governed by eminent Board of Directors comprising Chairmen and Managing Directors of eight Public Sector commercial Banks; Chairman of Development Finance Institutions i.e. National Bank for Agriculture and Rural Development, (NABARD) and Export & Import Bank of India (EXIM Bank) nominees of Government of India from the Ministries of Agriculture, Finance and Planning Commission; and three Experts in the fields of Agriculture, Finance and rural development. One of the three experts is currently the Chairman of the Board of Directors of the company. The Managing Director is the chief executive of the Company.
Pursuant to the requirements of Section 292A of the Companies Act, 1956, Audit Committee oversee the financial reporting and accounting, external auditor, regulatory compliance and monitors the internal control process.
Operations of the Company are audited by the Comptroller and Auditor General of India (CAG) under Section 619(4) of the Companies Act, 1956.
Headquarter of AFC is situated at Mumbai. The Company has three Regional Offices at Kolkata, New Delhi and Bangalore besides three Branch Offices at Lucknow, Hyderabad and Pune and Field Offices at Kalahandi, Bargarh (Orissa) and Godda (Jharkhand).