The Bank was established by amalgamating four RRB’s 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: The loan can be used for productive, investment or personal needs.
Eligibility: Any farmer can avail this personal loan. The applicant should have a minimum of 3 acres of agricultural land.
Quantum of Loan: A maximum amount of Rs. 5 lakhs is granted as loan. This is subject to the limit of 50% of the market value / realizable value of the property / 3 times of Annual Farm Income; whichever is lesser.
Repayment: The repayment has to be done within 12 half yearly installments or 6 annual installments.
Security: The immovable property is taken as security for this loan.