BETTER DAYS AHEAD: APSFC chairman J. Rambabu giving away sanction letter for loan to a woman entrepreneur at the business development campaign conducted in Tirupati on Saturday. Managing Director Ajeya Kallam is also seen.

TIRUPATI: The Andhra Pradesh State Financial Corporation (APSFC) has accorded, in principle, approval for 40 project proposals involving financial assistance to the tune of Rs.58.23 crores. Sanction has been given to proposals submitted by 35 entrepreneurs worth Rs.5.78 crores at the entrepreneur awareness meet-cum-business development campaign organised here for entrepreneurs of Chittoor, Kadapa, Anantapur and Nellore districts.

Eight of the projects pertained to food and agro products, six each on tourism and mineral-based industry, three each on complexes, bio-technology and electrical, electronics, IT-related units.

Addressing the entrepreneurs, APSFC Chairman J. Rambabu announced that financial assistance worth Rs.675 crores would be rendered to small and medium enterprise (SME) sector this year. He said the real potential of the region had not been tapped fully.Managing Director Ajeya Kallam maintained that the SFC had performed well last year in spite of a stiff competition from commercial banks.

Faster service

Promising that the corporation would continue to provide faster and better service, he observed that time was ripe to establish forward/backward linkages. Representatives from the Industries Department, APIIC, APITCO, SISI, ITGI, etc., counselled the entrepreneurs.

Printer friendly page  
Send this article to Friends by E-Mail