Tuesday, Aug 03, 2004
Tuesday, Aug 03, 2004 |
| Andhra Pradesh | ||||
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts: Classifieds | Employment | Andhra Pradesh
-
Visakhapatnam
By Our Staff Reporter
VISAKHAPATNAM, AUG. 2. With efforts for a tie-up with the Small Industries Development Bank of India (SIDBI) for extending joint finance to small and medium enterprises having reached a decisive stage, the AP State Finance Corporation (APSFC) may consider lowering its existing rate of interest (RoI). Addressing a press conference at the conclusion of an entrepreneurs awareness programme here on Monday, the Chairman of APSFC, M. Gopalakrishna, said his organisation might consider lowering the RoI "if we could get our requirement from the Small and Medium Enterprises Fund set up with an allocation of Rs. 10,000 crores." APSFC, which is now giving approvals up to Rs. 5 crores straightaway and Rs.10 crores with SIDBI clearance, could probably fund large projects after the launch of the joint finance scheme, Mr. Gopalakrishna said.
Project viability
Earlier at the awareness programme, about 30 proposals involving an investment of Rs. 47 crores were received from prospective entrepreneurs from the Visakhapatnam, Vizianagaram and Srikakulam districts. The Managing Director of APSFC, Ratan P. Watal, told entrepreneurs that project viability was the pre-requisite for the sanction of a loan.
`Profits up'
In reply to a question, Mr. Gopalakrishna said the APSFC had been rated as the best State finance Corporation in the country for the third consecutive year in the sanctioning and disbursement of loans. He said the corporation, which had earned a profit of Rs. 2.36 crores two years ago, had increased its profits to Rs. 10.1 crores in the last fiscal by stepping up its recovery effort. "We have also launched a one-time settlement (OTS) scheme to close accounts listed as non-performing assets (NPA)," he said. About Rs. 250 crores was locked up in NPA, he said, adding that APSFC had initiated several steps to recover NPA accounts.
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2004, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
