By Bikash Singh
Copyright indiatimes
North Eastern Development Finance Corporation Limited
Financial institution North Eastern Development Finance Corporation Limited (NEDFi) will promote startups, traditional crafts, skill development, employment generation and women’s empowerment, while strengthening risk management, reducing NPAs and expanding outreach in alignment with state priorities. NEDFi held its 30th Annual General Meeting on Friday at Guwahati to present its Annual Report for the Year 2024-25 to the shareholders. CMD, NEDFi PVSLN Murty said that during FY25, the Corporation delivered record operational milestones. Sanctions increased to Rs.882.98 crore (Rs.846.37 crore in FY24), while cumulative sanctions touched Rs.9,114.38 crore across 26,835 projects. Gross income grew by 8.44% to Rs.259.42 crore, primarily due to interest income. However, gross profit moderated by 2.73% to Rs.128.75 crore, and net profit stood at Rs.96.01 crore. The Corporation has declared a dividend of 8% for FY 25.The focused efforts of the Corporation on recovery and portfolio management yielded notable results, with gross NPAs reducing to 1.88% (3.10% in FY24), and net NPAs declining to 0.69% (1.25% in FY24), marking a significant strengthening of the balance sheet. The Loan outstanding stands at Rs.2,019.50 crore (Rs.1,833.51 crore in FY24), reflecting sustained growth momentum. The initiative of reaching out to unserved & underserved communities of the region with financial resources, training and support services, including efforts to bring down interest costs and help the rural poor come out of the debt traps has been remarkably successful, enhancing the income levels of over 16,000 lives through low-cost credit.Live Events The North East Venture Fund (NEVF), a pioneering initiative with the Ministry of DoNER and SIDBI, has supported 69 start-ups across diverse sectors. Complementing this, the Manipur Start-up Venture Fund and the NRL Ideation Angel Fund together committed nearly Rs.19 crore to high-potential ventures, further nurturing the entrepreneurial ecosystem in the region. Murty said that as NEDFi continues to evolve and adapt to the region’s changing development landscape, we are eager to seize the opportunities ahead, remaining fully committed to meeting the emerging development needs of the NER while upholding the highest standards of service and integrity. In FY26, NEDFi aims to achieve ambitious growth by expanding credit access to MSMEs including the microfinance sector, reducing credit costs for unserved & underserved segments and mobilizing low-cost funds. The Corporation will promote startups, traditional crafts, skill development, employment generation and women’s empowerment, while strengthening risk management, reducing NPAs and expanding outreach in alignment with state priorities. Operational efficiency will be driven by technology adoption, portfolio monitoring, capacity building for staff and a customer-centric approach, reaffirming NEDFi’s commitment to entrepreneurship, sustainable growth and inclusive socio-economic development in the North Eastern Region.Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onNEDFistartupsskill developmentwomen’s empowermentventure fundtraditional craftscorporationsidbinrl ideation angel fund
(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
(You can now subscribe to our Economic Times WhatsApp channel)Read More News onNEDFistartupsskill developmentwomen’s empowermentventure fundtraditional craftscorporationsidbinrl ideation angel fund(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
