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 scheme aims at financing different self help groups (SHGs) to actively run their group.
Eligibility: Any self help group with 10-20 members in it can apply for this loan.
Quantum of Loan: 4 times the savings of the self help group subject to a minimum amount of Rs.50,000/- is granted as loan. Higher amounts of loan may be granted based of the activities of the self help group.