Economic Development Corporation (EDC) has registered record profit of Rs 61 crore, a rise of Rs 13 Crore as compared to Rs 48 crore profit recorded last year, EDC Chairman Siddharth Kuncolienkar told media persons after the EDC board meet held today. “Out of Rs 61 cr profit Rs 12 cr is interest. There is 12 % increase in loan segment. 1% rebate also has been finalised for those who genuinely repay loan. Interest also has been brought down by 1 % . Now the interest rate is 10.5 %,” said Kuncolienkar.
“EDC has net worth of Rs 450 crore and Rs 880 cr is term loan given . We have also managed to bring Non-performing asset (NPA) to 1%,” he added.
“Startups are beginning to flourish in Goa. Chief Ministers Rozgar Yojna(CMRY) itself is creating two entrepreneurs per day. Rs 40 crore loan has been disbursed to 7000 beneficiaries till date,” he added.
He also informed that a 45 seater incubation centre will be set up by EDC soon.