Financial Daily from THE HINDU group of publications
Thursday, Jun 05, 2003
Financial Daily from THE HINDU group of publications Thursday, Jun 05, 2003 |
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Money & Banking
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Public Sector Banks Andhra Bank opens farm business centre Our Bureau
HYDERABAD, June 4 THE Hyderabad-based public sector Andhra Bank has announced that it will open five agri-business centres in Hyderabad and Secunderabad - at R.P Road, Masab Tank, Nacharam, Kothapet and Pet Bashirabad. According to a release on Wednesday, the General Manager, Mr G. Rama Krishna Reddy, inaugurated the first centre at R.P. Road. An amount of Rs 170 lakh was sanctioned to various farmers for establishing grape gardens, safed musli and rural godowns on the inaugural day. The bank said that the purpose of opening agri business centres was to provide focused thrust for agricultural finance in the service area of the branch to begin with, and to be followed by the farming community in the surrounding areas of the selected branches. According to the release, the centre in-charges were given adequate powers to meet the credit needs of the framers and quick disposal and sanctions of the proposals. Each branch would develop at least one village from the service area by way of implementing a comprehensive village development plan by meeting 100 per cent credit needs and non-credit activities. The bank proposes to make the remaining four centres operational before June 15, the release added.
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