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KSIDC achieves all-time high sanctions, creates 2,959 Direct Jobs

Published in Corporate Friday, 29 April 2022 17:23


Kochi : Despite the limitations for the economy during Covid time, the Kerala State Industrial Development Corporation was able to achieve all-time high performances in loan sanctions and collections.

According to its annual report, the corporation was able to sanction Rs 428.88 crore to 132 MSMEs (micro, small and medium enterprises) during 2021-22, thereby creating 2,959 jobs.

KSIDC Managing Director MG Rajamanickam IAS said both achievements were all-time records. He said there was a 28 per cent increase in loan sanctions, which pointed to an acceleration of industrial growth in the state.

The total loan book size of KSIDC recorded an impressive 30 per cent growth to Rs 815 crore from Rs 627 crore in the previous year. Collections grew 80 per cent during the year to Rs 148.5 crore.

The net non-performing asset (NPA) declined to 9.8 per cent. During 2021-22, term loans aggregating Rs 251 crore were sanctioned to 18 units.

MSME Loans worth Rs 177 crore under Chief Minister’s Special Assistance Scheme, Covid19 Samashwasa Padhathi, and Pravasi Bhadratha scheme were made available to 114 units, Mr Rajamanickam said.

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