Kochi, April 21 (KNN) The Kerala State Industrial Development Corporation (KSIDC) sanctioned over Rs 428 crore to Micro, Small and Medium Enterprises (MSMEs) during the last fiscal year of 2021-22.

As per its annual report, KSIDC has surpassed its previous loan sanctioning and collection in FY21 despite the impact created by the pandemic.

With the Rs 428 crore sanction to MSMEs it helped create 2,959 jobs.

Commenting on the yearly report, KSIDC Managing Director M.G. Rajamanickam said that the records were an all-time high with 28 per cent increase in loan sanctions and 9.8 per cent decline in the net non-performing asset (NPA).

As compared to FY20-21, the size of the corporation’s loan book grew by 30 per cent through an increase from Rs 627 crore to Rs 815.

The collections grew by 80 per cent during the year to Rs 148.5 crore, said the report.

Under the Chief Minister’s Special Assistance Scheme, COVID-19 Samashwasa Padhathi Rs 177 crore MSME loans were made available to 114 units. (KNN Bureau)