KFCL TO FINANCE IT VENTURES
Article Abstract:
The Kerala Financial Corporation Ltd (KFCL) has decided to finance the infotech units in Kerala following the Government's decision to make IT sector a thrust area for development. The funding would encompass software development, programming and other IT-related services. KFCL's upper limit for financing of corporate sector would be Rs1.5 crore and Rs90 lakh for proprietary or joint ventures. For new ventures, 25 percent of funds must be deployed by promoters while the rest would be financed at 17 percent. This year KFCL sanctioned Rs260 crore loans and disbursed Rs190 crore. The company recorded a net profit of Rs2.25 crore for 1997-98 as against Rs2.10 crore in 1996-97. (nr)
Comment:
The Kerala Financial Corporation Ltd (KFCL) has decided to finance the infotech units in Kerala following the Government's decision to make IT sector a thrust area for development.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CALL RATES GO UP ON LOW VOLUME
Article Abstract:
The rate of call money was 9 percent in the inter-bank overnight money market on January 7, 1999. The rate opened at 8.75 percent and rose to 9 percent following tight liquidity. Most of the deals were made at 8.75-9 percent. The fixed rate repo of the Reserve Bank of India netted Rs1,500 crore. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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