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: Aimed at salvaging male buffalo calves and rearing them economically for meat production
Eligibility: Companies, partnership firms, Corporations, NGOs, SHGs, JLGs, Cooperatives, farmers and individual entrepreneurs.
Quantum of Loan: Under the scheme a 100% interest subsidy (up to 9 calves) or a Subsidy of 25% of the outlay (33.33% for SC/ST entrepreneurs) is being provided for male buffalo calf rearing (10 to 50 calves and 1000 calves) depending on number of calves reared
Rate of Interest: 13%
Implementing agency: Department of Husbandry, Dairying and Fisheries, GOI and NABARD