Goemkarponn Desk
PANAJI: The EDC Corporation has declared a dividend of Rs.100.92 lakhs and paid Rs.86.20 lakh to the Government of Goa for FY 2019-20.
The cheque was handed over to the Chief Minister in the presence of the Board of Directors of EDC Limited.
Under the chairmanship of Sadanand Shet Tanavade, the EDC Board Meeting held on 02/07/2021 has reduced the interest rates for New MSME Term Loan borrowers from 10.50% per annum to 9.50% per annum, reduction in interest rate by 1% w.e.f. 01/07/2021.
With this reduction in interest rate EDC term loans are presently the cheapest in the market.
The Management has also decided that the Loan processing time be reduced by simplifying the loan application form, and various measures are contemplated to reduce some of the formalities needed for processing of loans. EDC shall be aggressively marketing and coming with new products and schemes to support the entrepreneurs and businesses in GOA.
With the State Government MIRS (Interest rebate) scheme, the Goan borrowers’ net interest works out to less than the current bank rate. Under the Modified interest rebate scheme, borrowers get an interest rebate of 9%, comprising 2% for a Goan borrower, 2% for a women borrower, and 5% for units located in backward talukas. Forty-two borrowers have been benefited with interest rebate amounting to Rs.4 crore approximately during the financial year 2020-21.
