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: The scheme is introduced by the bank to finance against the pledge of the produce to meet out immediate needs of the farmers thereby preventing distress sale of produce during harvest/glut seasons when the market price will be much low
Eligibility: small and margin farmers who are the Bank’s major clientele are eligible for he loan.
Quantum of Loan: The loan amount is based upon the market trends the SF/MF avail loans against their produce and sells in the market, when there is remunerative market price, thereby earn more income