• search

APSFC to hike assistance for SMEs

Written by: Staff
|

Rajahmundry, Jun 17 (UNI) Andhra Pradesh State Financial Corporation (APSFC) will increase its financial assistance for small and medium entreprises (SMEs) from Rs 588 crore to Rs 675 crore this year, top officials today said.

Addressing the press here after a day-long seminar on business development campaign and entrepreneur awareness, APSFC Chairman J Rambabu and Managing Direcor Ajeya Kallam said the corporation achieved a record profit of Rs 25 crore during the previous year which would be doubled in the coming years.

It was also working on reducing non-performing assets (NPA) of Rs 294 crore to below ten per cent from the current 16 per cent.

The APSFC was targeting to restructure its work on the lines of nationalised banks by mobilising deposits within the state.

UNI BAK GM 1700

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more