APSFC ahead in performance criteria

Hyderabad: The Andhra Pradesh State Financial Corporation (APSFC) has climbed back to the top spot among similar corporations in India during the financial year 2001-02, after a gap of nearly a dozen years.

Its top performance was in all the three key operational areas of sanctions, disbursements and recoveries. While its sanctions surpassed Rs 400 crore, disbursements and recoveries reached a new high of Rs 309 crore and Rs 340 crore, respectively, for 2001-02.

Buoyed by this impressive showing, the corporation has set a target of sanctioning Rs 410 crore, disbursing Rs 310 crore and a recovery figure of Rs 400 crore for the financial year 2002-03, says APSFC managing director Dr J C Mohanty.

The corporation has been able to reduce its non-performing assets to 41 per cent, or an estimated value of Rs 400 crore. Similarly, its outstanding dues are also around Rs 1,000 crore.