Financial Daily from THE HINDU group of publications
Tuesday, Aug 12, 2003
Financial Daily from THE HINDU group of publications Tuesday, Aug 12, 2003 |
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Money & Banking
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Financial Institutions APSFC clearance for 330 projects worth Rs 270 cr Our Bureau
Hyderabad , Aug. 11 IN a span of 20 days, the Andhra Pradesh State Finance Corporation (APSFC) has given on-the-spot approval to 330 projects, involving financial assistance to the tune of Rs 270.33 crore during six editions of entrepreneur awareness campaigns held across the State. "We have issued sanction letters on the spot to 108 entrepreneurs giving financial assistance to an extent of Rs 25.22 crore," Mr C. Jaganmohan Reddy, General Manager (Corporate Planning), said. "Besides, we have received 1,126 enquiries for financial assistance to the tune of Rs 287.74 crore," he said. Beginning July 21, the corporation held seminars in Hyderabad (2), Warangal, Tirupati, Vijayawada and Visakhapatnam with each seminar covering four to five neighbouring districts. "The seminars are aimed at encouraging the first generation entrepreneurs to turn their dreams into reality, while giving the go-ahead to pucca projects," he said. The corporation held the second such seminar in the city today, covering Adilabad, Kurnool, Mahaboobnagar, Nalgonda, Nizamabad and Medak districts. "We received 175 enquiries which involved Rs 48.50 crore today. Interestingly, there was a good number of first generation entrepreneurs. We issued 19 applications to prospective and existing entrepreneurs who sought Rs 9.07 crore," he said. "Apart from this, we gave in-principle approval on the spot to 80 projects worth Rs 93.40 crore. Twenty-five entrepreneurs have been issued sanction letters, involving Rs 5.63 crore," the General Manager said. The SFC formed a core committee comprising its Managing Director, Chief General Managers and General Managers to consider evaluate and clear the proposals. All the six seminars were followed by meetings with customers. "Through these meetings, we sought feedback and suggestions on a variety of issues which ranged from SFC's schemes and customers' expectations. The seventh and final seminar in the series will be held at Rajahmundry on August 18.
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