NEDFi attains all time high profit in NE

Aizawl, May 29: North Eastern Development Finance Corporation Limited (NEDFi) has attained an all time high net profit with an increase of 133 per cent during 2005-2006 here.

Official sources here today informed that the corporation made an impressive growth of 133 per cent in its net profit, which stood at Rs 14 crore after tax.

The disbursement of the institution has witnessed an upward swing, from Rs 52 crores in 2004-05 to Rs 104 rores in 2005-06, a 100 per cent increase.

Major chunk of disbursement has gone to project finance, which include sectors like cement, steel, hotels, hospitals, real estate and rural go-downs.

It has also brought down its net Non-Performing Assets (NPA) to nine per cent from 13 per cent recorded the previous financial year.

In micro finance, the NEDFi extended financial assistance worth Rs 15 crore covering 2,887 Self-Help Groups (SHGs) and credit-linking 31,366 beneficiaries, over 50 per cent of them being women and around 43 per cent from the weaker sections of the society.

The NEDFi has also launched a 'Design and skill upgradation scheme' under which comprehensive training programmes are held in the handloom and handicraft sector and other vocational trades.

It has so far conducted 21 programmes, imparting training to 792 artisans from all the eight North Eastern states.

An annual budget of Rs 50 lakh has been set aside for the scheme, the sources added.

UNI