Andhra Bank To Extend Loans To Small Manufacturing And Service Entrepreneurs
Andhra Bank Zonal Manager V. Venkateswar Rao said that the bank will extend loans under the Micro Units Development and Regulatory Authority (MUDRA) which commenced in April last, at an affordable and cheaper rate to small manufacturing and service entrepreneurs. The assistance would be given up to Rs.50,000 under SISHU, from Rs.50,001 to Rs.5 lakh under Kishore and above Rs. 5 lakh to 10 lakh under Tarun categories. These loans would be extended without collateral and third party guarantee by all branches of the bank. Entrepreneurs were requested to approach the nearby bank branch for finance.