2023-10-04 15:48:37
NEDFi held its 28th Annual General Meeting at Guwahati to present its Annual Report for the Year 2022-23 to the shareholders
CMD, NEDFi, PVSLN Murty highlighted NEDFi’s achievements during the financial year 2022-23. The year marked a historic milestone by achieving record-breaking figures in various key parameters such as extending financial assistance, projects assisted, loan portfolio, gross profit etc. Notably, the net worth of NEDFi crossed a significant milestone of Rs 1000 crores.
NEDFi has facilitated private capital investment of over Rs 20000 crores in the region through its interventions. The major thrust areas are health care, tourism & hospitality, education, agri-allied & food processing, microfinance etc.
In FY 2022-23, the gross income of the Corporation was Rs 207.50 crores against Rs 199.21 crores compared to the previous year. The gross profit and net profit were Rs 115.92 crore and Rs 80.00 crore as against Rs 101.83 crore and Rs 76.74 crore respectively in the previous financial year.
The Corporation’s sanction grew by 11% to Rs 798.03 crore from Rs 719.01 crore in the previous year. NEDFi significantly expanded its focus on MSME by financing a remarkable total of 3,948 projects, marking a substantial increase from the 1,016 projects supported in the previous fiscal year. As on March 31, 2023, financial assistance was extended to 12,642 projects with cumulative sanction of Rs 7,385.03 crore. The loan outstanding grew by 26.54% to Rs 1,554.10 crore from Rs 1,228.11 crore in the previous year.The Corporation, jointly with the Ministry of DoNER, had set up the North East Venture Fund (NEVF) with a corpus of Rs 100 crores. As on March 31, 2023, the Fund had provided, in-principle, commitment of Rs 93.17 crores for 62 portfolio companies.In FY23, the Corporation embarked on a multifaceted journey aimed at promoting entrepreneurship and catalyzing economic growth in the region. These initiatives, though seemingly small in scale, had a profound impact on uplifting grassroot beneficiaries and addressing financial disparities. NEDFi Micro Lending Scheme” played a pivotal role in empowering micro-entrepreneurs by providing direct financial support for various income-generating activities through Business Correspondents at affordable interest rates.
In FY23, the Corporation made significant strides in promoting entrepreneurship and capacity building across the North Eastern region through a diverse array of initiatives. This included organizing business meets for first-generation entrepreneurs, mentoring assistance through Business Facilitation Centres, capacity-building programmes, sustainable livelihood programmes, marketing support etc.
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