Andhra Bank launched Pattabhi Sitaramayya for self-help groups (SHGs) to encourage entrepreneurship.
- The scheme 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.
- 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 Rs25 lakh without any collateral security on easier terms and conditions
About Andhra Bank
- Andhra Bank is a medium-sized public sector bank (PSB) of India
- It has its headquarters in Hyderabad, Telangana, India.
- It was founded on 20 November 1923 by Bhogaraju Pattabhi Sitaramayya
- Suresh N Patel is the current MD & CEO of the bank
