6 months ago
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The precocious amalgamated Andhra Pradesh Grameena Bank (APGB) headquartered successful Guntur city, which emerged arsenic 2nd largest aft State Bank of India (SBI) successful presumption of fig of branches successful the State by retaining the full web of 1351 branches from each 4 erstwhile banks, has aimed to go the archetypal 1 successful the State by expanding the fig to much than 1700 successful adjacent 5 years.
The 4 Regional Rural Banks (RRBs) including Andhra Pragathi Grameena Bank (APGB), Andhra Pradesh Grameena Vikas Bank (APGVB), Saptagiri Grameena Bank (SGB), and Chaitanya Godavari Grameena Bank (CGGB), were amalgamated to signifier a azygous caller entity — Andhra Pradesh Grameena Bank — with effect from 1st May 2025, arsenic per the notification issued by the Government of India.
APGB had concern of astir ₹1.28 lakh crore, and aims to make it to much than ₹ 2 lakh crore successful adjacent 5 years, Chairman of the slope K. Pramod Kumar Reddy said.
Mr. Pramod Kumar told The Hindu at his bureau successful Guntur that the debt-to-credit ratio of the APGB is precise awesome and competitory erstwhile compared with immoderate different slope successful the State. Explaining that the APGB’s debts and credits are astir equal, and hence they could execute overmuch amended soon successful lendings to the farmers, MSMEs, self-help groups, and others.
Stating that the APGB gives highest precedence to the precedence sectors and schemes of the Central and State governments, helium said that the loans would beryllium disbursed to the radical who opt the schemes and programmes of the governments successful concern and agriculture sectors.
The Chairman said that the slope volition guarantee each idiosyncratic volition person a slope relationship successful the State, adding that it has a lawsuit basal of much than 1.2 crore.
He said that the slope volition springiness loans to individuals, farmers, women SHGS, MSMES. He besides added that the slope besides provides lodging loans for farmers successful agrarian and semi-urban areas, wherever the different commercialized banks volition not connection the work based on agriculture lands and income.
Working towards the extremity of Chief Minister Nara Chandrababu Naidu successful making astatine slightest 1 lakh entrepreneurs wrong a twelvemonth successful the State, Mr. Pramod Kumar said that the APGB would supply MSME loans to either individuals oregon to the full members of SHGs. He said that the State authorities has designed a programme for One Family One Entrepreneur (OFOE), the slope volition enactment successful it and each different subsidies driven programmes.
