Vijayawada :

IFCI CEO and managing director Malay Kumar Mukherjee on Thursday said his non-banking financial institution, owned by the Central government, was looking forward to taking part in the  process of rebuilding the state. Mukherjee was inaugurating the IFCI’s 17th regional office at Bharathinagar in the city.

Later, at an interaction with industry representatives organised by the AP Chambers of Commerce and Industry Federation (APCCIF), he said that as a special case his institution was offering loans as low as Rs 25 crore in Andhra Pradesh so that more number of entrepreneurs could benefit (the minimum loan that IFCI offers is Rs 50 crore).

He said that though IFCI charged an interest rate which was higher than that of banks, its USP was in time taken in processing the application and offering customised products. “IFCI’s interest rate is higher because we borrow from banks. But we are different and better than banks in the area of clearing the loan applications,” he said.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Andhra Pradesh / by Express News Service / August 28th, 2015