KSFC's profit up to Rs 17.32 cr
Bangalore, July 31 (UNI) The state-owned Karnataka State Finance Corporation today announced a 34 per cent increase in its sanctions for the year 2006-07 at Rs 424.53 crore with profits touching Rs 17.32 crore from Rs 8.56 crore in 2005-06.
Addressing the AGM of KSFC, its Chairman and Managing Director V Umesh said during the year the Corporation's disbursal went up by 55 per cent at Rs 310.33 crore during the period under review as against Rs 199.86 crore in the previous year. The recovery also shot up substantially at Rs 503 crore.
He said KSFC''s cumulative sanctions stood at Rs 8,168.38 crore with the number of cases being 1.58 lakhs.
Mr
Umesh
said
the
Non
Performing
Assets
had
been
brought
down
to
33
per
cent
from
58
per
cent
in
2002-03.
During
this
year,
NPA
would
be
brought
down
by
another
15
per
cent,
he
added,
UNI