The Karnataka State Financial Corporation (KSFC) assisted 1,300 new enterprises from various sectors during 2003-04, according to the managing director of KSFC, Mr V. Umesh.
During 2003-04, the corporation sanctioned loans to the tune of Rs 301.56 crore. The net disbursement of loans stood at Rs 248.96 crore. The overall recovery worked out to Rs 560.34 crore.
"The corporation is likely to register an operating profit of Rs 15 crore for 2003-04," Mr Umesh said.
KSFC added that the new non-performing assets (NPA) management strategy of KSFC had enabled the recovery officers to focus on recoveries based on nature and category of assets.
The debt-restructuring package extended to KSFC by SIDBI gave comfort in the operation of corporation's funds and repayments, the release said, adding that the State Government, KSFC, and SIDBI had signed an agreement in this regard.
