The cumulative losses of Gujarat State Financial Corporation (GSFC) — a state-level institution set up to provide medium and long-term credit to MSMEs — crossed Rs 2,500 crore at the end of the financial year 2017-18.
“The corporation registered a loss of Rs 115.53 crore during the year, compared to Rs 117.18 crore reported in 2016-17. The accumulated loss stood at Rs 2,572 crore,” stated the 58th annual report of the entity that was tabled in the ongoing interim Budget session of Gujarat legislative Assembly.