Panaji: EDC Vice Chairman, Shri Sanjay Satardekar handed cheques amounting to Rs.5.04 crores to Hon’ble Chief Minister, Dr. Pramod Sawant at EDC House, Panaji on 19th August, 2024 in presence of Shri.B.S.Pai Angle, MD Shri.B.S.Borkar, Jt.MD, Shri. Sudesh Mandrencar, GM and Shri.Govind Narvekar, CS. This amount was towards interest on Land Acquisition amount deposited by the various Government Departments and Dividend for FY 2022-23. The Corporation has been continuously in profits over the past several years. EDC has now entered 50th year of its operations.
During FY 2023-24 the Corporation’s provisional Income was Rs.94.30 crore and Profit after tax (PAT) amounted to around Rs.54.45 crore. The outstanding loans of the Corporation as on 31st March 2024 is Rs.795 crore with Gross NPA of 0.61% and the Net NPA was NIL and its net worth standing at Rs.860 crore. There are no defaults in the outstanding loans sanctioned since 2010-11in the books.
EDC has also taken measure to support first generation entrepreneurs by simplifying its flagship scheme “CMRY – 2023” to cover a larger population of GOAN business community. Existing businesses, as well are now eligible for expansion/diversification of their businesses. Also there is no income ceiling limit for applicants as earlier. The age limit is relaxed to 50 years. The effective interest rate on CMRY to the borrower is 2% p.a.
The Corporation also operates the Mukhyamantri Modified Interest Rebate Scheme of the Government, wherein Interest Rebate up to 9% is extended on loans availed by the entrepreneurs/MSME subject to loan account being regular. The interest rate on loans can go down upto 0.50% p.a.
