The Guntur branch of Andhra Pradesh State Finance Corporation (APSFC) has fixed sanction of loans at Rs 27.90 crore and release at Rs 19.60 crore during the 2007-08 financial year. | |
| The branch has also decided to recover Rs 17.96 crore loans this year. In 2006-07, the branch sanctioned Rs 22.41 crore loans, released Rs 16.90 crore and recovered Rs 13.62 crore loans. |
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| D Poornachandra Rao, senior branch manager, Guntur APSFC, said the APSFC calculates interest for every three months owing to which loan beneficiaries pay a low interest. |
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| Under a new liberalised policy, the APSFC would give loans ranging from Rs 10 lakh to Rs 5 crore to entrepreneurs, D Poornachandra Rao, senior branch manager, Guntur APSFC. |
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| The thrust areas for 2007-08 are agro, food, ceramic, infrastructure development projects; mineral-based industries; engineering and steel units; drugs, pharma and biotechnology industries; jute, apparel, textile, plastic, rubber and leather units; hospitality industry; information technology, IT-related activities and services; and export oriented industries. |
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| He said APSFC would tie up with other financial institutions to meet the beneficiary's loan requirement. |
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