PROSPECTUS                 Amended Pricing Supplement No. 1938(a)
Dated April 1, 1994        Dated August 11, 1994
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
                                No. 33-50909
Dated April 1, 1994

              GENERAL ELECTRIC CAPITAL CORPORATION
                    GLOBAL MEDIUM-TERM NOTES
                (Redeemable Step Up Coupon Notes)

Series:  A X    B __   C __

Principal Amount:  US$125,000,000

Trade Date:  July 27, 1994

Settlement Date (Original Issue Date):August 22, 1994

Maturity Date: August 22, 2004 (unless earlier redeemed as
       described under "Additional Terms--Optional Redemption"
       below).

Price to Public (Issue Price):  The Notes will be sold at varying
       prices to be determined by the Underwriter at the time of
       each sale.  See "Plan of Distribution" below.

Agent's Discount or Commission:  The Notes are being purchased by
       the Underwriter at 100% of their principal amount and will
       be sold at varying prices to be determined at the time of
       sale.  For further information with respect to the plan of
       distribution and any discounts, commissions or profits on
       resales of Notes that may be deemed underwriting discounts
       or commissions, see "Plan of Distribution" below.

Net Proceeds to Issuer (in Specified Currency):  US$125,000,000

Interest:

  Interest Rate:  The Notes will pay interest at the rate of 7.375%
       for the period from the original issue date up to but
       excluding the second Interest Payment Date scheduled to
       occur on August 22, 1995; thereafter, the interest rate on
       the Notes will reset annually on each August 22 in
       accordance with the schedule set forth under "Additional
       Terms--Interest" below. 


CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED
IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO
THEM IN THE PROSPECTUS SUPPLEMENT


                (Redeemable Step Up Coupon Notes)
                                                       Page 2
                       Amended Pricing Supplement No. 1938(a) 
                       Dated August 11, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




  Interest Payment Period:
  __ Annual    X  Semi-Annual    __ Monthly    __ Quarterly

  Interest Payment Dates:  Each August 22 and February 22,
       commencing on February 22, 1995 up to and including the
       Maturity Date unless earlier redeemed.  See "Additional
       Terms--Interest" below.

Repayment, Redemption and Acceleration:

  Optional Repayment Date:  Not applicable
  Initial Redemption Date:  August 22, 1995
       (See  "Additional Terms--Redemption" below)
  Initial Redemption Percentage:100%

POTENTIAL PURCHASERS OF THE NOTES ARE URGED TO READ THIS PRICING
SUPPLEMENT THOROUGHLY TOGETHER WITH THE ACCOMPANYING PROSPECTUS AND
PROSPECTUS SUPPLEMENT EACH DATED APRIL 1, 1994. SEE "CERTAIN
INVESTMENT CONSIDERATIONS" HEREIN. 

Form of Notes:
  X  DTC registered        __ non-DTC registered

Original Issue Discount

  Amount of OID:  N/A
  Interest Accrual Date:  N/A
  Yield to Maturity:  N/A
  Initial Accrual Period OID:  N/A

Amortizing Notes:

  Amortization Schedule:  N/A

Dual Currency Notes:

  Face Amount Currency:  N/A
  Optional Payment Currency:  N/A  
  Designated Exchange Rate:  N/A

Indexed Notes:

  Currency Base Rate:  N/A


                (Redeemable Step Up Coupon Notes)
                                                       Page 3
                       Amended Pricing Supplement No. 1938(a) 
                       Dated August 11, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




Additional Terms:

  Interest.

  Interest on the Notes will accrue from August 22, 1994 and will
  be payable in U.S. dollars semiannually on each August 22 and
  February 22, commencing February 22, 1995 up to and including
  the Maturity Date or date of earlier redemption (each, an
  "Interest Payment Date").  Interest will accrue from and
  including each Interest Payment Date to but excluding the next
  succeeding Interest Payment Date.  In the event an Interest
  Payment Date falls on a day other than a Business Day, interest
  will be paid on the next succeeding Business Day and no interest
  on such payment shall accrue for the period from and after such
  Interest Payment Date to such next succeeding Business Day.  The
  interest rate on the Notes will be equal to 7.375% per annum
  from and including the Original Issue Date up to but excluding
  August 22, 1995.  Thereafter, the interest rate will be subject
  to adjustment annually on each August 22 in accordance with the
  following schedule:

          Interest Period                      Interest Rate

     August 22, 1995 to August 21, 1996       7.500% per annum
     August 22, 1996 to August 21, 1997       7.750% per annum
     August 22, 1997 to August 21, 1998       8.000% per annum
     August 22, 1998 to August 21, 1999       8.250% per annum
     August 22, 1999 to August 21, 2000       8.500% per annum
     August 22, 2000 to August 21, 2001       8.750% per annum
     August 22, 2001 to August 21, 2002       9.000% per annum
     August 22, 2002 to August 21, 2003      10.000% per annum
     August 22, 2003 to August 21, 2004      11.000% per annum

     The amount of interest payable on each Interest Payment Date
     will be computed on the basis of a 360 day year consisting of
     twelve (12) thirty (30) day months.


                (Redeemable Step Up Coupon Notes)
                                                       Page 4
                       Amended Pricing Supplement No. 1938(a) 
                       Dated August 11, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




  Optional Redemption.
  
  The Company may at its option elect to redeem the Notes on
  August 22, 1995 or on any Interest Payment Date thereafter (each
  such date, an "Optional Redemption Date") at 100% of their
  principal amount plus accrued interest to but excluding the date
  of redemption (the "Redemption Date").  In the event the Company
  elects to redeem the Notes, notice will be given to registered
  holders not more than 60 nor less than 30 days prior to the
  Redemption Date.

Certain Investment Considerations:

  Prospective purchasers of the Notes should be aware that the
  Notes will pay interest at different fixed rates each year
  through the Maturity Date unless earlier redeemed by the
  Company.  Prospective purchasers should also be aware that the
  Company has the option to redeem the Notes on any Optional
  Redemption Date and will be likely to elect to redeem the Notes
  in the event prevailing market interest rates are lower than the
  then-current interest rate on the Notes.    

Plan of Distribution:

  The Notes are being purchased by Salomon Brothers Inc
  (hereinafter referred to as the "Underwriter") as principal at
  a purchase price of 100% of the aggregate principal amount of
  the Notes.  The net proceeds to the Corporation will be 100% of
  the principal amount of the Notes.

  The Underwriter has advised the Company that the Underwriter
  proposed to offer the Notes from time to time for sale in
  negotiated transactions or otherwise, at prices determined at
  the time of sale.  The Underwriter may effect such transactions
  by selling Notes to or through dealers and such dealers may
  receive compensation in the form of underwriting discounts,
  concessions or commissions from the Underwriter and any
  purchasers of Notes (which may include other dealers) for whom
  they may act as agent.  The Underwriter and any dealers that
  participate with the Underwriter or other dealers in the
  distribution of the Notes may be deemed to be underwriters, and
  any discounts or commission received by them and any profit on
  the resale of Notes by them may be deemed to be underwriting
  compensation. 

  The Company has agreed to indemnify the Underwriter against and
  contribute toward certain liabilities, including liability under
  the Securities Act of 1933, as amended.