Tanavade chair 4th annual EDC meeting

After enjoying a good fiscal year, EDC Chairman Sadanand Shet Tanavade has said that the premier financial institution will start a Tribal employment generation program scheme, under which those living in remote areas would be able to avail loans at 2% with a 40% subsidy; and a business loan scheme which would be offered at a rebate of 2% for women and with a 5% rebate for those living in backward talukas.

Chaired by Sadanand Shet Tanavade, the EDC held its fourth annual meet to review its performance during FY20-21. The EDC’s total revenue for the past fiscal stands at a tall 83 crore rupees. Hopeful for another good year, Tanavade says that the financial institution hopes to rake in a profit of over 50 crore rupees.

A projection that would only be made less by the prevailing rate of interest, he said. Tanavade also shed light on the new schemes and revisions that the financial institution planned to make available in the upcoming fiscal.