Andhra Bank launches scheme to push entrepreneurship

Andhra Bank has on 21 November 2017 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 Andhra 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 lakh without any collateral security on easier terms and conditions, according to a release.

Translate »