The Hindu Business Line : APSFC aims for Rs 800-cr disbursement

The Andhra Pradesh State Financial Corporation (APSFC) is planning to disburse Rs 800 crore to entrepreneurs in the State during the current financial year, according to Mr M.V. Brahmananda Rao, Managing Director.

He told reporters here on Monday that last year (2008-09) the corporation, which was in the number one position in the country, had lent Rs 700 crore to industrialists. “In spite of the recession, the small-scale units are doing pretty well and there is no sickness and the units are repaying the loans promptly,” he said.

Mr Rao said the corporation started its annual business development campaign this year on June 10 in Hyderabad and received proposals for industrial projects worth Rs 200 crore and “today we have organised the campaign here. We received 42 proposals worth Rs 136 crore today, and we have given in-principle clearance for these projects. After detailed appraisal, we will give the final approval.”

He said the business development campaign here was meant for entrepreneurs from the three districts of Visakhapatnam, Vizianagaram and Srikakulam. “On Tuesday, we are organising the campaign in Rajahmundry for the entrepreneurs in the two Godavari districts and on Wednesday in Vijayawada for those in Krishna, Guntur, Prakasam and Khammam districts,” Mr Rao said.

Assurance

Earlier, Mr J. Rambabu, Chairman of APSFC, assured the entrepreneurs that the corporation would take up their problems and try to find solutions for them.

Mr Jain, an entrepreneur, complained that not even half-an-acre of land was available for the small-scale units in the three districts and he had been trying in vain for the past three months to get a site for his small-scale unit. “The Government has given away all the available land to big companies and projects and SSIs are left with virtually nothing. What is the point of the APSFC giving loans if there is no site for the smaller units?” he asked.

Responding to the query, Mr Rambabu said he would take up the issue with other Government agencies and try to help out small-scale industrialists.

More Stories on : Financial Institutions | Credit Market | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rupee weakens against $

Sops for lending

Investor appetite for mutual funds’ stake likely to revive

Nomura agrees to buy 30.5% stake in LIC MF

Tata Motors, Bank of India tie up

Rise in car sales augurs well for Kotak Mahindra Prime

Private non-life insurers report negative growth

Allahabad Bank may raise Rs 1,000 cr this fiscal

Union Bank raises Rs 200 cr Tier-I capital

APSFC aims for Rs 800-cr disbursement

Bond prices rise marginally

Call rate steady

Chakrabarty takes charge as RBI Deputy Governor

IDBI Gilts appointment