Current Affairs - Banking - Discussion

Andhra Bank has launched a new scheme "Pattabhi Sitaramayya - Self Business Group (PS-SBG)" on November 21, 2017 to encourage entrepreneurship. The scheme was launched to commemorate the 138th birth anniversary of its founder Bhogaraju Pattabhi Sitaramayya, and the Silver Jubilee of the SHG-Bank linkage programme in the country. Under the scheme, maximum financial assistance will be Rs. 25 lakh without collateral security. The Self Help Groups (SHGs), which have had five years of association with Andhra Bank, will be eligible for the scheme. The SHGs should also have completed three credit rotations with good repayment record to be considered eligible. The bank aims to encourage SHGs to Self Business Group model by helping these collectives take up substantial economic activity.