Andhra Pragathi Grameena Bank – Pragathi Agri Gold Scheme

By | September 20, 2011

Andhra Pragathi Grameena Bank came into existence from 1.06.06 by amalgamating Rayalaseema Grameena Bank, Sri Anantha Grameena Bank and Pinakini Grameena Bank consequent upon the Government of India Notification dt.1.6.06. The Bank is constituted under Regional Rural Banks Act 1976. The Bank is having its Head Office at KADAPA with a jurisdiction of 5 districts namely Kadapa, Kurnool, Ananthapur, Nellore and Prakasam.

It offers special loan schemes to farmers. Its credit basket includes agricultural loans, loans to farmers, produce loans, priority sector loans, non- priority loans, education loan, home loan, personal loans etc.

Purpose: To offer financial assitance to the customers for the purpose of agricultural operations

Eligibility: Famers with repaying capacity

Quantum of Loan: Maximum Rs.2 lakhs per borrower

Security: Gold

Repayment: Repayment period is one year after arranging the loan based on the agricultural seasons

Others: The per gram lending rate is Rs.1500/- on the net weight of the ornaments or 75% of the market value of the ornaments as on the date of arranging the loan, whichever is less. All the prudential norms applicable to the Pragathi KCC will also applicable to these loans

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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