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SIDBI annual general meeting held in Lucknow
Published on 30 Jun. 2010 10:25 PM IST
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The Small Industries Development Bank of India (SIDBI) has recorded its highest ever loan sanctions at Rs. 35,521 crore and disbursements at Rs. 31,918 crore during FY 2009-10, with substantial increase in both its indirect as well as direct lending.
According to Times report, chairman and MD, SIDBI, RM Malla informed at the 12th Annual General Meeting held in Lucknow on Wednesday that their micro finance assistance has increased by 53% to Rs 2,670 crores. The bank’s micro finance outstanding crossed the Rs. 3,000 crore mark for the first time to reach to Rs. 3,812 crore as on March 31, 2010, which is an increase of 78%. The total assets of SIDBI recorded sizeable increase of 21% to Rs. 41,885 crore at the end of the 2009-10 fiscal year. Net NPAs of SIDBI as a percentage of its net outstanding stood at a commendable 0.18% as on March 31, 2010. The total income of the Bank for FY 2009-10 also showed an impressive growth of 21% and reached an all time high figure of Rs. 3,207 crore with the profits increasing by more than 41% to stand at Rs 421 crores. SIDBI has posted earnings per share of Rs 9.36 and the AGM approved payment of highest ever dividend of 25% for FY 2009-10.
Malla in his address detailed the role of SIDBI as the principal financial institution for the MSME sector and highlighted how the proactive steps taken by the institution had very far-reaching and positive impact on the MSME sector.

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