Guntur: Loans worth Rs 100 crore disbursed to MSMEs, agri, other sectors

Guntur: Union Bank of India chief general manager, Vijayawada, V Brahmananda Reddy, disbursed loans worth Rs 100 crore to MSMEs and other sectors at the bank's regional office in Guntur city on Saturday.

Speaking on this occasion, he said that due to Covid-19, cyclones, the farmers, middleclass people and businessmen were facing several financial problems and taking their problems into consideration, the bank is liberally sanctioning the loans.

He explained the details of loans disbursed by the bank to various sectors. He urged the farmers and entrepreneurs to avail the loan facility provided by the bank. He said there was no processing fee for loans up to Rs 10 lakh. He further said that the bank was sanctioning the housing loans at 6.4%.

Later, he distributed Rs 100 crore loans to the MSMEs, farmers, and other sectors. UBI Guntur regional head A Ravikumar and other bank officials were present.