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 provide hassle free credit to farmers taking into accounts the entire production credit requirements of the farmer for the full year. The scheme also provides for comprehensive coverage of the entire range of credit needs of the agriculturist including investment credit needs for agriculture, ancillary activities and even consumption needs to a limited extent
Eligibility: Famers capable of repaying the loan
Quantum of Loan: 10% of the loan amount or Rs.10000/- whichever are lesser
The bank reports said that it is insisted that concerted efforts should be made to improve the coverage under the scheme by conducting ‘grama sabhas’ to identify non-loanee farmers/other needs of the farmers and to ensure that all eligible borrowers are covered under any one or of the bank’s schemes.