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 finances self employment and employment generation schemes.
Eligibility: This loan can be availed by small business units, retail traders, artisans, village industries, SSI & Tiny units and professional & self-employed.
Quantum of Loan: The credit provided by this personal loan varies from Rs. 3 lakhs to Rs. 5 lakhs.
Repayment: The credit is extended for a term of 3 years subject to an annual review.