PROSPECTUS                 Revised Pricing Supplement No. 1978
Dated April 1, 1994        Dated August 22, 1994
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
                                 No. 33-50909
Dated April 1, 1994        Rule 424(b)(3)-Registration Statement
                                 No. 33-54009


              GENERAL ELECTRIC CAPITAL CORPORATION
                    GLOBAL MEDIUM-TERM NOTES
                       (Fixed Rate Notes)


Series:  A __   B X    C __       Trade Date:  August 22, 1994

Principal Amount (in Specified Currency):  US$100,000,000

Settlement Date (Original Issue Date):  August 30, 1994

If Specified Currency is other than U.S. dollars,
equivalent amount in U.S. dollars:

Maturity Date: June 2, 1997

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 99.3892% 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$99,389,200
       (plus accrued interest from June 2, 1994)

Interest:

  Interest Rate Per Annum:  6.5%

  Interest Payment Dates:
  X  Annual:  June 2 of each year commencing June 2, 1995.
  __ Semi-Annual: 



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.


                       (Fixed Rate Notes)
                                                       Page 2
                           Revised Pricing Supplement No. 1978
                           Dated August 22, 1994
                           Rule 424(b)(3)-Registration Statement
                                No. 33-50909
                           Rule 424(b)(3)-Registration Statement
                                No. 33-54009




Repayment, Redemption and Acceleration:

  Optional Repayment Date:  N/A
  Annual redemption Percentage Reduction:  N/A
  Initial Redemption Date:  N/A
  Modified Payment Upon Acceleration:  N/A
  Initial Redemption Percentage:  N/A

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

Form and Denominations:

  The Notes will initially be issued in the form of a temporary
  global bearer note, without interest coupons, which will be
  deposited with or on behalf of a common depository for Morgan
  Guaranty Trust Company of New York, Brussels office, as operator
  of the Euroclear System and Cedel, societe anonyme for credit to
  the account designated by or on behalf of the purchasers
  thereof.  The temporary global note will be exchangeable for
  definitive bearer notes after the expiration of the Restricted
  Period, all as described in the Prospectus Supplement under the
  heading "DESCRIPTION OF NOTES--Forms, Denominations, Exchange
  and Transfer".  The Notes will be available in denominations of
  US$1,000 and US$100,000.

Additional Terms

  The Notes are intended to be fully fungible with and will, upon
  issuance of definitive notes on or after the Exchange Date
  (currently anticipated to occur on October 10, 1994), be
  consolidated and form a single issue for all purposes with the
  Company's issue of US$250,000,000 6.5% Global Medium-Term Notes,
  Series B, Due June 2, 1997, described in Pricing Supplement 1855
  dated May 16, 1994.


                       (Fixed Rate Notes)
                                                       Page 3
                           Revised Pricing Supplement No. 1978
                           Dated August 22, 1994
                           Rule 424(b)(3)-Registration Statement
                                No. 33-50909
                           Rule 424(b)(3)-Registration Statement
                                No. 33-54009




Plan of Distribution:

  The Notes are being purchased by Kidder, Peabody International
  PLC (hereinafter referred to as the "Underwriter") pursuant to
  a Terms Agreement, to be entered into under the Company's
  Amended & Restated Euro Distribution Agreement, dated August 31,
  1993, at the Issue Price of 99.3892% (plus accrued interest from
  June 2, 1994).  The Company has agreed to indemnify the
  Underwriter against and contribute toward liabilities, including
  liability under the Securities Act of 1933, as amended.

  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.