The aggregate sanctions and disbursals of the Industrial Development Bank of India (IDBI), the ICICI and the Industrial Finance Corporation of India (IFCI) have declined by 26.5 per cent and 11 per cent, respectively, during April-October 2001 against the corresponding period of the last fiscal.
The decline mirrors the slowdown in the industrial and infrastructure sectors. As per the data compiled by Centre for Monitoring Indian Economy, the three financial institutions (FIs) sanctioned Rs 47,191 crore in April-October 2001 against Rs 64,177 crore in April-October 2000. Disbursements stood at Rs 34,222 crore compared with Rs 38,447 crore during the year-ago period.
Of the three institutions, the ailing New Delhi-based IFCI has seen the maximum year-on-year fall in its sanctions and disbursements.
IFCI's sanctions were down 65.88 per cent to Rs 290 crore in the first seven months of the current fiscal against Rs 850 crore in the corresponding period of 2000-01. Disbursals were no better, declining 70.52 per cent to Rs 382 crore compared with Rs 1,296 crore in April-October 2000.
In the case of IDBI, sanctions declined 23.47 per cent to Rs 12,261 crore in the first seven months of the current fiscal against Rs 16,023 crore in the year-ago period. Disbursals during the reporting period fell 20.50 per cent to Rs 7,506 crore in April-October 2001 against Rs 9,442 crore in the same period last year.
ICICI's sanctions dipped 21.15 per cent to Rs 25,460 crore compared with Rs 3,2291 crore in April-October 2000.
On the disbursals front, ICICI has, however, fared better than its two peers. Its disbursals declined just 0.99 per cent to Rs 17,660 crore in April-October 2001 against Rs 17,837 crore in April-October 2000.
