mangalore today
name
name
name
Monday, July 16
BoscossWhite Stone Apartmentsname

 

KSFC is now a customer-friendly ’super mart’

KSFC is now a customer-friendly ’super mart’


Mangalore Today News Network

Mangaluru, Aug 12, 2015:   Speaking at a workshop on ’A financial super mart for MSMEs’ on Aug 11,  KSFC - The Karnataka State Financial Corporation  Senior Executive Director Srinivasmurthy B H. stated that  KSFC has changed its approach while extending loans to entrepreneurs.


- The Karnataka State Financial Corporation   1

 

- The Karnataka State Financial Corporation

 

- The Karnataka State Financial Corporation 3


It has now become a partner of the entrepreneurs.  He said that the KSFC had extended working capital as term loan to the entrepreneurs and had also fixed the repayment mode.

For entrepreneurs with a proven track record, the financial assistance is extended by relaxing collateral security. The financial assistance schemes have been made customer-friendly. The change in the approach has helped the KSFC. As a result, the NPA of the KSFC is less than five per cent in the last five years.  The senior executive director said that the customers trust had increased and the KSFC was giving emphasis on lending loans to MSMEs. This in turn will help in generation of employment and growth of industries in the State.

The KSFC had introduced major schemes for the benefit of the entrepreneurs. These included subsidised interest rate with an interest subsidy of eight per cent per annum for the first generation entrepreneurs wishing to establish the MSME with a project cost not exceeding Rs 100 lakh.

The Finance Corporation was also financing Solar Power Generation projects providing technical endorsement of the project and site. The KSFC provides loan at the interest rate of four per cent for SC/ST entrepreneurs. The loan amount has been enhanced to Rs five crore recently.

KSFC  extends loan for construction of warehouses. The solar power generation can be a profitable venture by generating power on rooftops and also on the lands owned by farmers.

KSFC Mysuru Circle General Manager B S Shirish said that the growth of the MSMEs had declined after 2000. The entrepreneurs have been giving emphasis to service sector especially tourism, health care and commercial real estate business. In the interest of generation of employment, decline in interest on manufacturing sector is not a good trend. Economy depends of manufacturing sector. With the Central government announcing ’Make In India’, he said there was ample opportunity in the manufacturing sector and called upon the entrepreneurs to make use of the facilities available.

Senior Manager A R Nagesh said that in the last 56 years, the KSFC has lent Rs 13,811 crore loan to 1.69 lakh customers. During 2014-15, the KSFC has fetched a net profit of Rs 44.47 crore.


Write Comment | E-Mail | Facebook | Twitter | Print
Write your Comments on this Article
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment
You have characters left.
Security Validation
Enter the characters in the image above