Managing director of the Karnataka State Finance Corporation (KSFC) Vandita Sharma has reiterated that the KSFC is committed to promoting micro and small entrepreneurs by liberally extending loans to establish their industries and stabilise their activities.
Interacting with entrepreneurs from districts under the jurisdiction of Circle IV of the KSFC, including Gulbarga, Raichur, Bijapur, Bidar and Yadgir, here on Wednesday, Ms. Sharma said the KSFC would also reschedule loan repayment for those entrepreneurs facing a problem.
Ms. Sharma said the KSFC would not hesitate to increase allocation for disbursal of loans and that it would provide funds to branches even if they exceeded the targets for disbursal of loans fixed by the KSFC in the beginning of the financial year.
She said that the KSFC attached special importance to providing financial assistance to women entrepreneurs.
For first-time entrepreneurs, the KSFC would provide guidance and organise training through its Entrepreneurs Development Cell.
Ms. Sharma said that any inordinate delay in sanctioning loans to entrepreneurs would not be tolerated and that officials should ensure that the financial needs of entrepreneurs was attended to immediately.
KSFC officials should also be in constant touch with entrepreneurs and get them to follow the repayment schedule for loans.
In an effort to prevent delay in sanctioning loans, the KSFC had given branch managers power to process loan applications, she added.
Inaugurating the meet, president of the Hyderabad Karnataka Chamber of Commerce and Industry Umakant Nigudgi said that the number of entrepreneurs in the Hyderabad Karnataka region was decreasing.
However, the growth rate in other parts of Karnataka was outstanding. .
Mr. Nigudgi said the KSFC should focus more on agriculture-based industries than the commercial sector in the Hyderabad Karnataka region.
N. Aswatharam, executive director of the KSFC, and general manager L.B. Nilogal were present.