Chaitanya Godavari Grameena Bank – Loan for Retail Traders

By | March 29, 2011

Government of India, Ministry of Finance announced the amalgamation of Chaitanya Grameena Bank and Godavari Grameena Bank sponsored by Andhra Bank into a single Regional Rural Bank with its Head Office at Guntur, Andhra Pradesh. Chaitanya Godavari Grameena Bank was thus established on 01.03.2006. The Head Office of the new Bank is situated at Guntur, Andhra Pradesh.

The bank ownership is shared between Government of India, Sponsor Bank and Government of Andhra Pradesh in the ratio of 50%:35%:15%.

Purpose: For acquiring premises or furniture / show cases and office equipment and for working capital requirements this loanscheme can be utilized.


Eligibility: Individuals /partnership firms, Consumer Co-operative Stores engaged primarily in buying and selling of goods can avail this loan scheme. Retail Traders dealing in essential commodities (fair price shops) and consumer co-operative stores and other private retail traders with credit limits not exceeding Rs.10 lakhs are eligible for this personal loan scheme.


Security: The property acquired by the banks finance is hypothecated to the bank as security.


Repayment: Repayment has to be done within 36 to 48 Equated Monthly Installments depending upon the repaying capacity of the borrowers.

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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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