THIRUVANANTHAPURAM: Kerala Financial Corporation’s (KFC) loan disbursements stood at Rs 1,446 crore for the financial year 2019-2020 compared to Rs 816 crore a year ago, registering a growth of 77 per cent. The state-owned industrial financing institution, in a press release said loan sanctions touched Rs 1,734 crore compared to `1,650 crore recorded during FY19. Total recoveries improved by 20 per cenrt to `1,082 crore.
“The 2019-20 fiscal year was a landmark year for KFC. The Corporation also made substantial improvement in NPA reduction and portfolio growth as well,” said KFC chairman and managing director Sanjay Kaul. The corporation had set a target of doubling its portfolio while switching over to a 9 per cent base rate interest regime, he said.
KFC has assisted various PSUs involved in fighting Covid-19 through bill discounting scheme of government. To ease the stress faced by MSME sector, KFC will give top-up loans on easy terms to the existing customers. New customers, including those who are involved in the marketing of MSME products or entities supporting the sector, can also avail of loan up to `50 lakh on better terms.