GUWAHATI, SEPTEMBER 26 (MExN): The North Eastern Development Finance Corporation Limited (NEDFi) on Friday held its 30th Annual General Meeting at its registered office in Guwahati to present the Annual Report for 2024-25 to shareholders.
Welcoming the shareholders, NEDFi CMD Shri PVSLN Murty highlighted the corporation’s achievements during the financial year. During FY25, NEDFi achieved record operational milestones, with sanctions rising to Rs 882.98 crore from Rs 846.37 crore in FY24, while cumulative sanctions reached Rs 9,114.38 crore across 26,835 projects. Gross income grew by 8.44% to Rs 259.42 crore, largely driven by interest income, while gross profit declined 2.73% to Rs 128.75 crore. Net profit stood at Rs 96.01 crore and the corporation declared an 8% dividend for FY25.
NEDFi’s focused recovery and portfolio management reduced gross NPAs to 1.88% from 3.10% in FY24 and net NPAs to 0.69% from 1.25% in FY24. Loan outstanding rose to Rs 2,019.50 crore from Rs 1,833.51 crore in FY24. The corporation’s initiatives to reach unserved and underserved communities through low-cost credit, training, and support services benefited over 16,000 people, helping reduce debt burdens and improve income levels.
Under the North East Venture Fund (NEVF), a joint initiative with the Ministry of DoNER and SIDBI, 69 start-ups received support. Complementary schemes, including the Manipur Start-up Venture Fund and the NRL Ideation Angel Fund, committed nearly Rs. 19 crore to high-potential ventures, fostering entrepreneurship in the region. NEDFi’s CSR programs focused on women’s empowerment, skill development, livelihoods, and traditional crafts. During FY25, 368 beneficiaries were directly supported, while marketing assistance was extended to 4,883 artisans through exhibitions, trade fairs, and showrooms. Over 53,000 people benefited from capacity development, business facilitation, and sustainable livelihood programs.
Looking ahead, NEDFi aims to expand credit access to MSMEs and microfinance sectors, reduce credit costs for underserved segments, promote startups and crafts, and strengthen risk management. Operational efficiency will be enhanced through technology adoption, portfolio monitoring, staff capacity building, and a customer-centric approach, reaffirming NEDFi’s commitment to inclusive socio-economic development in the North Eastern Region.
In his address, CMD Murty thanked the Board, Union Ministries, State Governments, banks, and shareholders, including IDBI Bank, LIC, SBI, SIDBI, ICICI Bank, IFCI, GIC & subsidiaries, for their guidance and support.
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