Andhra Bank has come out with a new scheme for self-help groups (SHGs) that will encourage entrepreneurship. The scheme, called Pattabhi Sitaramayya Self Business Group, has been introduced to commemorate the 138th birth anniversary of the bank’s founder Bhogaraju Pattabhi Sitaramayya, and the Silver Jubilee of the SHG-Bank linkage program in the country. SHGs having 5 years of association with bank and having successfully completed 3 credit rotations with good repayment record and an aptitude for entrepreneurship, will be eligible for a loan. Finance in the form of working capital and term loan can be extended to the group or in individual capacity within the group to the extent of Rs 25 lakh without any collateral security on easier terms and conditions, the bank said in a press release.
