Andhra Bank has launched a new scheme for self-help groups (SHGs) to encourage entrepreneurship. The scheme, Pattabhi Sitaramayya -- Self Business Group (PS-SBG), has been introduced to commemorate the 138th birth anniversary of its founder Bhogaraju Pattabhi Sitaramayya, and the Silver Jubilee of the SHG-Bank linkage programme in the country.
Under the scheme, SHGs having five years of association with the 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 Rs 25 lakh without any collateral security on easier terms and conditions.
Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.
