Andhra Bank has 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.
Static/Current Takeaway Points Important for IBPS PO Mains 2017 Exam-
- Andhra Bank was registered on 20th November 1923 and commenced business on 28th November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs.
- Managing Director & CEO of Andhra Bank- Suresh N Patel
- Headquarter- Hyderabad, Telangana
Source- The Hindu Business Line