KSFC nets Rs 502 lakh profit

Bangalore, Apr 18 (UNI) The Karnataka State Financial Corporation (KSFC) has accompolished a significant performance by registering an operating profit of Rs 502 lakh duirng the financial year 2005-06.

An official release here today said the performance was made possible due to improved operational efficiency with customer centric approach, simplified and standardised working systems and processes, giving priroity to accountability and bringing one time settlement (OTS) process online.

The KSFC had recovered a loan amount of Rs 553.94 crore and sanctioned Rs 318.28 crore crore during the year.

For the financial year 2006-07, the KSFC aimed at sanctioning loans to the tune of Rs 400 crore to potential entrepreneurs. It proposed to give special thrust to technology upgradation of SME units and promote potential sectors like textile, engineering and automobile, group housing and tourism related actvities in the coming years, the release added.

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