Andhra Pragathi Grameena Bank – Rythu Mitra Groups (RMGs)

By | September 21, 2011
2 Comments

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: In order to offer financial assistance mainly to the SF/MF/Tenant Farmers/Share Croppers/ Lessee farmers, financial assistance required to RMGs may be realistically assessed

Eligibility: SF/MF/Tenant Farmers/Share Croppers/ Lessee farmers

Quantum of Loan: up to 1:20 depending on quality of the RMG and the recovery position of the loans extended to   RMGs

Rate of Interest: The interest rate shall be 7% up to Rs.3.00 lakh in the case of crop production loans and in the case of investment credit depending upon the purpose.

Security: The assets created out of the financial assistance shall be the security.

Repayment: Based in the scheme

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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.

2 thoughts on “Andhra Pragathi Grameena Bank – Rythu Mitra Groups (RMGs)”

    1. Team BankBazaar

      Hi Kadala,

      Thank you for getting in touch. Check your eligibility for an Agriculture Loan by clicking on this link. To know more about loans for farmers, please click here. Hope this helps!

      Cheers,
      Team BankBazaar

      Reply ↓

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