APGB disburses loans to MSMEs

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.