.......Continued from Home Page.

      During the year the Corporation has been able to sustain its revival by registering a net profit of 8.90 lakhs for 10th consecutive year notwithstanding sluggish pace of industrial growth of the state.

     Other performance highlights of the Corporation are enumerated below for the information of the shareholders:-

          • The loan sanction amounted to  1056.15 lakhs and total disbursement amounted to 814.46lakhs;

          • Total recovery of loan increased sizably to  2087.08 lakhs from  1514.89 lakhs in the previous year registering a growth of 37.77%;

          • The total income of the Corporation recorded at  1142.10 lakhs with an increase in interest income in comparison to the previous year and the performance of the Corporation has been reflected by our profit consecutively for tenth year. In micro finance sector after successful implementation of the prestigious “Chief Minister’s Micro Finance Scheme” a new scheme called “Kanaklata Micro Finance Scheme” has been added to encourage the women entrepreneurs in the rural as well as semi urban & urban areas of Assam to set up their own enterprises for livelihood support of their families and contribute towards the socio-economic development of the state;

     Sanction of good loans and continuous effort put on recovery from bad loans during FY 2015- 16 have resulted in maintaining Gross NPA at 36.44% as on 31-03-2016 as compared to 35.69% as on  31.03.2015.  Similarly,  the  Net NPA was maintained at 17.20 % as on 31.03.2016 as compared to 16.56 % as on 31.03.2015. It has been the primary concern of the Corporation to maintain asset quality and therefore during the year under review the Corporation put in place a supplementary loan settlement policy for recovery from new NPAs in addition to the extension of time span of the old OTS policy to boost up recovery of old NPA accounts over and above normal course of recovery.

     We have made progress towards attaining sustainable growth to contribute more for the development of the state, but we have more to do for extending continuous financial support to industrial & service sector projects for economic growth of the state and generating more & more employment opportunities. We will continue to take decisive action to strengthen and grow our Corporation in sustainable way with our long term vision to deliver more customer friendly products and services to our clients in a professional manner. The Corporation has been receiving support and guidance from all quarters in general and Government of Assam and SIDBI in particular, and hope that it would continue in the years to come to enable us to achieve our objectives.

      Our  people will continue to be the  driving force  behind our  success and  growth.  We zealously believe that the future of our Corporation depends on the way in which we take care of the need of our clients in most professional way.           

Place:  Guwahati                                                                                       Managing Director

Date:30-07-2016                                                                               (Anwaruddin Choudhury,IAS)

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