KSFC loan sanctions touch Rs 301 crore

Mangalore: The Karnataka State Financial Corporation, financed, 1,300 new enterprises, various sectors, 2003-04, 640 manufacturing units, 250 hotels and restaurants, 175 commercial and residential complexes

The Karnataka State Financial Corporation (KSFC) financed 1,300 new enterprises from various sectors during 2003-04, said the Managing Director of KSFC, Mr V. Umesh in a press release

KSFC said that it extended assistance to 640 manufacturing units, 250 hotels and restaurants, and 175 commercial and residential complexes during 2003-04. Apart from this, 75 textile and readymade garment units, 73 hospitals and nursing homes, 25 pharmaceutical industries, 12 educational institutions and 50 printing and publishing units also got financial assistance from KSFC during the period.

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.