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To commemorate the 138th birth anniversary of it's founder Dr Bhogaraju Pattabhi Sitaramayya and the Silver Jubilee of the SHG-Bank linkage programme in India, the Andhra Bank has launched a new scheme for self-help groups (SHGs) titled Pattabhi Sitaramayya — Self Business Group (PS-SBG).
This scheme was launched by Nara Chandrababu Naidu, Chief Minister of Andhra Pradesh.
Under PS-SBG Scheme, the Self Help Groups having 5 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 ₹25 lakh without any collateral security on easier terms and conditions.
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