Andhra Bank has sanctioned Cash Credit facilities of Rs 25 crore to S.E. Investments. The bank has sanctioned the Cash Credit facilities to S.E. Investments through its Agra Branch.
Cash Credit is a facility to withdraw the amount from the business account even though the account may not have enough credit balance. The limit of the amount that can be withdrawn is sanctioned by the bank based on the business cycle of the company and the working capital gap and the drawing power of the company.
S.E. Investments is engaged in the business of advances against stock of goods equipment, immovable property and other assets and providing Safe Deposit Locker services. The Company is also having 2.4 MW Wind Energy Generator at Banglore in Karnataka and 0.80 MW Wind Energy Generator at Jaiselmer in Rajasthan. The Company is a category `A' Deposit Accepting Non- Banking Finance Company registered with Reserve Bank of India.
