The Bank was established by amalgamating four regional rural banks sponsored by State Bank of Hyderabad, viz. 1) Sri Saraswathi Grameena Bank, Adilabad 2) Sri Satavahana Grameena Bank, Karimnagar 3) Sri Rama Grameena Bank, Nizamabad and 4) Golconda Grameena Bank, Ranga Reddy (Hyderabad) with an aggregate net work of 215 branches.
The area of operation of the Bank covers the districts of Adilabad, Karimnagar, Nizamabad, Hyderabad and Ranga Reddy districts of Andhra Pradesh. The paid-up capital is Rs.4 crores which is contributed by Government of India, Sponsor Bank i.e. State Bank of Hyderabad & Government of Andhra Pradesh in the ratio of 50: 35: 15 respectively.
Purpose: This loan can be taken for any personal needs or business needs.
Eligibility: This personal loan scheme is available in only selected urban and semi urban areas.
Quantum of Loan: The quantum of loan granted as at the rate of Rs.600/- per gram. The minimum amount of loan that is granted is Rss.25,000/-. The amount granted as loan depends on the amount of the gold pledged to the bank as security.
Security: The gold ornaments pledged to the bank forms the security.