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November 23, 2017

Andhra Bank launches a new scheme PS-SBG

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To commemorate the 138th birth anniversary of it's founder Dr Bhogaraju Pattabhi Sitaramayya and the Silver Jubilee of the SHG-Bank linkage programme in India, the Andhra Bank has launched a new scheme for self-help groups (SHGs) titled Pattabhi Sitaramayya — Self Business Group (PS-SBG).

This scheme was launched by Nara Chandrababu Naidu, Chief Minister of Andhra Pradesh.

Under PS-SBG Scheme, the Self Help Groups having 5 years of association with Andhra Bank and having successfully completed three credit rotations with good repayment record and an aptitude for entrepreneurship, will be eligible for a loan. 

Finance in the form of working capital and term loan can be extended to the group or in individual capacity within the group to the extent of ₹25 lakh without any collateral security on easier terms and conditions.

Important Points you should know about Andhra Bank :
  • Founder : Bhogaraju Pattabhi Sitaramayya
  • Headquarters : Hyderabad
  • Founded on : 20th November 1923 
  • Headoffice : Hyderabad 
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