APGB disburses loans to MSMEs
Andhra Pragathi Grameena Bank APGB Chairman A Venkata Reddy has personally disbursed MSME loans worth Rs 1 crore to 10 businessmen at the rate of Rs 10 lakh each
Anantapur: Andhra Pragathi Grameena Bank (APGB) Chairman A Venkata Reddy has personally disbursed MSME loans worth Rs 1 crore to 10 businessmen at the rate of Rs 10 lakh each.
The loans were given without verification as part of the bank’s policy to give hassle-free loans. Speaking on the occasion, Venkata Reddy said that the bank is serving the interests of farmers, students, industrial entrepreneurs and businessmen in 5 districts.
He stated that a Rs 10 lakh will be given to entrepreneurs, who come forward to set up small and medium range industrial units.
Reginal Manager G Shiva Sankar Reddy said under Stand-Up India scheme, self-employment loans are disbursed to SC, ST and women entrepreneurs.
The bank is also extending education and housing loans.