IIFCL aims to sanction loans of Rs 23,000 crore in the current financial year


Photo:PTI

IIFCL aims to sanction Rs 23,000 crore loan

New Delhi. India Infrastructure Finance Company Limited (IIFCL) aims to have a loan sanction of over Rs 23,000 crore and loan disbursement of Rs 14,000 crore in the year 2021-22 based on the project pipeline available in the market. In the year 2020-21, the government-owned infrastructure finance company made the highest number of loan sanctions and disbursements despite the challenges posed by the COVID-19 pandemic.

IIFCL Managing Director PR Jaishankar told PTI, “The future will be as challenging as last year but we want to do better. Our target will be to exceed the target set for ourselves – this year the target was Rs 23,000 crore for approvals and Rs 14,000 crore for disbursement, depending on the projects to be achieved.

During the year 2020-21, IIFCL achieved the highest acceptance and distribution level of Rs 20,892 crore and Rs 9,460 crore respectively on a standalone basis. “We will try to bring down the net NPAs to 4 per cent by the end of the current financial year,” he said. The company’s gross NPAs also declined to 13.9 per cent from 19.70 per cent in the previous fiscal. With regard to cash recovery in NPAs, he said, it increased to over Rs 625 crore in the year 2020-21, which is 92 per cent higher than the previous financial year.

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