Financial Daily from THE HINDU group of publications
Friday, Oct 29, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 29, 2004 |
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Money & Banking
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Financial Institutions Kerala Financial Corp chalks out 100-day plan for better service Our Bureau
Thiruvananthapuram , Oct. 28 THE Kerala Financial Corporation (KFC) has embarked on a 100-day action plan on the lines of a similar plan initiated by the State Government last month. The action plan of KFC, which commenced on October 11 and is slated to last till January 18, 2005, has been designed to speed up the industrialisation of the State, according to Dr V.M. Gopala Menon, Managing Director of the corporation. As part of the plan, the corporation will ensure ISO quality standards at all its branch offices in order to improve the level of service to the customers. A separate cell to look into the complaints of the customers has already started functioning in KFC. The plan envisages sanctioning of loans to the tune of Rs 50 crore during the 100 days. The project outlays will be appraised in the presence of the entrepreneurs so as to accelerate the procedure for sanctioning of the loans. The corporation will take the necessary steps to disburse Rs 30 crore out of the total amount sanctioned during the100 days. It has already put in place the guidelines for granting funds in advance to help time-bound completion of projects. The corporation has extended the period for availing of interest concessions till December 31 this year. This has been done to ensure that the scheme is available to all the loan applicants. Also, those who remit 50 per cent of the interest arrears on existing loans will be eligible for the scheme. Under the action plan, the corporation has completed the procedures for returning the properties that have been taken over by it under Section 29 to those who repay 10 per cent of the loan arrears or 25 per cent of the interest arrears. Restructuring of loans on request is also part of the programme. Another major component of the plan is a rehabilitation package for sick industrial units. Besides, a minimum of 250 loan accounts that have been categorised as non-performing assets will be taken up for one-time settlement. The other features of the action plan are conducting open house forums for entrepreneurs at all the branch offices of KFC and organising business meets at all district headquarters to explain the existing loan schemes of the corporation.
More Stories on : Financial Institutions | Kerala
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