KSFC sanctions up 14.7 per cent in FY'11

State-owned Karnataka State Financial Corporation (KSFC) has recorded 14.7 per cent rise in its sanctions at Rs 724 crore during 2010-11 compared to Rs 631 crore sanctioned in the previous year. Its disbursements have gone up by 33.3 per cent to Rs 580 crore as against Rs 435 crore in the previous year.

Its net profit for the year stood at Rs 13.2 crore and the operating profit at Rs 17.8 crore. The gross income for 2010-11 stood at Rs 215.66 crore and the gross expenditure is Rs 197.82 crore, an official press release said.

The Government of Karnataka extended the one time settlement scheme for small time borrowers and the said scheme was in place till March 31 last. During the year 2010-11, 500 small units derived benefit and closed their accounts. Cumulatively, the scheme has benefited 6,200 small units.

 

The government extended equity support to the tune of Rs 25.80 crore during the year. As on date, against

KSFC’s total equity of Rs 678.23 crore, the government’s share capital amo-unts to Rs 639.56 crore (94.30 per cent). The state government has also guaranteed the borrowing programme of KSFC during the year to the tune of Rs 223 crore, the release added.