Kochi sources have stated that the last United Democratic Front (UDF) government’s liquor policy has an unintended casualty and the coffers of the government have funded Kerala Financial Corporation (KFC).



The KFC had advanced hefty loans to the once-thriving bars dotting the State, but the abrupt closure of hundreds of these bars has turned those loans into Non Performing Assets (NPA) overnight.


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Meanwhile the loan portfolio of the corporation included loans extended to 221 hotels, (182 hotels that subsequently lost their bar license and 39 more that were started, expecting to get bar licenses) before the curbs took a toll on their revenue.



The KFC is in talks with asset reconstruction companies, including that of the Small Industries Development Bank of India, which incidentally is also a shareholder of KFC, to address its NPA problem.


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