APSFC to allocate Rs 675 crore for industrial loans

Hyderabad, Jun 14 (UNI) Andhra Prdesh State Finance Corporation (APSFC) Chairman J Rambabu today said the SFC would allocate Rs 675 crore loans to entrepreneurs in the stae during 2006-07.

Talking to newsmen here, Mr Rambabu said the corporation received applications for loans from the Small and Medium Entrepreneurs (SMEs) to the tune of Rs 185 crore.

Stating that the SFC has sanctioned Rs 586 crore to the SMEs as loans during 2005-06 as against Rs 465 crore allocated in 2004-05 , he said the corporation has increased the loan amount to Rs 675 crore as part of the promotion of industrial development in the state.

Mr Rambabu said the corporation has earned Rs 25 crore profit in 200-06 as against the profit of Rs 13 crore earned in last financial year.

UNI AP VV PAG1420