Nizamabad: Borrowing for fruitful activity a good idea

Nizamabad: Lending to a productivity activity is good, but not collecting loans and not repaying them in a timely manner is not good for the individual and the nation, said Collector M Ram Mohan Rao.

The Collector inaugurated the Account Holder Service Festival in Nizamabad on Wednesday.

He said that due to the social responsibility of the banks, the rapid development of our country is taking place. The bank's mela programme will continue for two days. About 26 banks are going to distribute instant loans and Mudra loans to their customers.

On Wednesday, a single Andhra Bank granted home loans, Mudra loans and overdraft loans worth Rs 3 crore.

Andhra Bank DGM PVV Satya Narayana, Chief Managers Srinivas, Anjaneyu Dubba Branch Manager B. Pradeep and others were present.