APSFC approves 80 proposals

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Hyderabad, Jun 11 (UNI) Andhra Pradesh State Finance Corporation (APSFC) today approved 80 proposals involving financial assistance amounting to Rs 351 crore in principle.

According to an official release here, the APSFC Chairman J Rambabu, while participating in a business development programme, said the response received from the budding entrepreneurs was encouraging.

''People are foraying into entrepreneurship as an alternative to employement. As a result they are able to provide employment to others besides contributing to the economic growth of the country,'' he said, adding that they should learn from the experience of other entrepreneurs and seek opportunities.

APSFC MD, A Giridhar said, on its part, the Corporation was designing several new schemes and services to meet the varied loan needs of the different industrial and service sectors.

The Corporation had earned a net profit of Rs 92 crore during the last financial year and retained its leading position among all SFCs in the country.

UNI AP GKT 2037

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