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SGB exceeds target in disbursal of loans
Saptagiri Grameena Bank (SGB) Chairman B Suribabu said that the SGB has achieved excellent results in the implementation of Micro Units Development and Refinance Agency (MUDRA) scheme among the Regional Rural Banks in the state. He stated that the SGB crossed its target by disbursing loans worth Rs 560 crore to 29,726 beneficiaries under MUDRA scheme in the district from April 1, 2015 to till date
Chittoor: Saptagiri Grameena Bank (SGB) Chairman B Suribabu said that the SGB has achieved excellent results in the implementation of Micro Units Development and Refinance Agency (MUDRA) scheme among the Regional Rural Banks in the state. He stated that the SGB crossed its target by disbursing loans worth Rs 560 crore to 29,726 beneficiaries under MUDRA scheme in the district from April 1, 2015 to till date.
Speaking to The Hans India here on Thursday, Suribabu said that instructions were given to all the branch managers to achieve branch-wise targets by sanctioning loans under MUDRA scheme on a priority basis. The SGB is giving more importance for empowerment of Self Help Groups (SHGs), he said adding that bank has sanctioned loans worth Rs 555.31 crore to SHGs so far.
The SGB Chairman said that bank has taken a new initiative for issuing loans to small scale industries as part of MUDRA scheme. Bank has appointed 276 business correspondents to sanction loans for self-employed and entrepreneurs in rural areas, he said stressing that highest priority is given to farming sector. He stated that crop loans worth Rs 2,499 crore were distributed to farmers in the district.
Within a short period, the SGB has opened 181 branches in Chittoor and Krishna districts while five more branches would be opened shortly in Krishna district and one more in Chittoor district, he said adding that the bank would construct its head office at a cost of Rs 2.5 crore near the Collectorate here.
