APGB headquarters gets 100 KW rooftop solar facility
The facility was formally inaugurated by the bank's Chairman K. Pramod Kumar Reddy, in the presence of Special Duty Officer M. Arun Kumar, General Manager Harkeswar Prasad and other staff members.
The bank developed the facility at an outlay of ₹52 lakh, and a 25KW facility at Anantapur regional office at a cost of ₹14 lakh. Besides, similar facilities were installed in 29 branches to create power facility to the tune of 89 KW.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
19 hours ago
- New Indian Express
Nabard, APGB sign MoU with Aqua Exchange
VIJAYAWADA: In a significant step towards revolutionising aquaculture financing, the National Bank for Agriculture and Rural Development (NABARD) and Andhra Pradesh Grameen Bank (APGB) have signed a Memorandum of Understanding (MoU) with Aqua Exchange Agritech Private Limited. The agreement signed in Vijayawada on Monday, introduces a pioneering loan model for shrimp farmers, integrating Internet of Things (IoT) as part of a pilot project. The event was attended by NABARD Deputy Managing Director AK Sood, NABARD Andhra Pradesh Regional Office Chief General Manager MR Gopal, NABARD Head Office CGMs Manikumar and AV Bhavani Shankar, APGB Chairman Pramod Kumar Reddy, Union Bank of India General Manager Renu Nair, and Aqua Exchange CEO Pawan Krishna Kosaraju. This partnership aims to bring shrimp farmers into the formal credit system by offering low-interest loans, reducing reliance on informal lending. By leveraging IoT devices, the initiative enables real-time monitoring of water quality, feed usage, and disease control, enhancing productivity, minimising risks, and promoting sustainable aquaculture practices.
The Hindu
a day ago
- The Hindu
Collateral-free shrimp crop loan scheme launched in A.P.
Andhra Pradesh Grameena Bank (APGB), in collaboration with the National Bank for Agriculture and Rural Development (NABARD) and AquaExchange Agritech Private Limited, launched collateral-free shrimp crop loans for aquaculture farmers, on Monday. The formal launch took place at AquaExchange's Veeravalli premises near Hanuman Junction in Krishna district. As part of the NABARD–AquaExchange MoU, the partners will develop a standardised shrimp farming rating score (FRS), providing a benchmark for the formal finance sector to assess aquaculture creditworthiness. This FRS is expected to play a crucial role in integrating aquaculture lending into the Unified Lending Interface (ULI) envisioned by the Reserve Bank of India (RBI). Under the APGB–AquaExchange agreement, ₹25 crore worth of collateral-free crop loans will be disbursed to around 100 shrimp farmers over the next 3 to 6 months. The first tranche — ₹1.2 crore — was sanctioned on Monday to five farmers from various regions. AquaExchange plans to expand disbursements to ₹100 crore within the current financial year and ₹250 crore in the next. The launch coincided with a farmers' meet attended by over 100 shrimp farmers from across Andhra Pradesh. The event also showcased AquaExchange's aquaculture automation technologies, designed to improve yields, reduce risks, and enhance profitability. Under this programme, APGB will extend low-cost, collateral-free working capital loans to shrimp farmers via AquaExchange, which will also offer crop disease insurance. An MoU was signed between NABARD, APGB, and AquaExchange in the presence of senior dignitaries. The dignitaries included A.K. Sood, Deputy Managing Director, NABARD; A.V. Bhavani Shankar, CGM, NABARD; Mani Kumar, CGM, NABARD; M.R. Gopal, CGM, NABARD; Renu Nair, General Manager, Union Bank of India; Pramod Kumar Reddy, Chairman, APGB; AquaExchange founder and CEO Pavan Kosaraju, co-founder & COO Hemasundar D., and co-founder & CBO Kiran Kumar Bandi and others were present, according to a press release.
New Indian Express
5 days ago
- New Indian Express
MNRE grants nod for 1.5 lakh rooftop solar installations
BHUBANESWAR: The Ministry of New and Renewable Energy (MNRE) has granted in-principle approval to the Odisha government for the implementation of the first tranche of 1.5 lakh installations of rooftop solar under utility led aggregation (ULA) model of the PM Surya Ghar - Muft Bijli Yojana. The distribution companies of the state had proposed the ministry to approve three lakh installations in the first phase. The approval, however, came with riders and discoms have been asked to ensure adherence to the PM Surya Ghar implementation framework. As per the directive of the ministry, all installations must be carried out strictly through the rooftop mode, including those under virtual net metering, which allows multiple electricity consumers within the same licensed area to benefit from a single, shared renewable energy system. There will be no ground-mounted, elevated, community or aggregated systems on non-rooftop areas under the ULA model. This provision aims at ensuring that asset ownership remains with the consumer. The consumer contribution has been capped at Rs 5,000 per kW after factoring in the central financial assistance and the state contribution. 'If the tariff obtained through competitive bidding falls below the cumulative financial assistance, the difference will be adjusted from the consumer's share, further reducing the burden,' the ministry stated in a communication.
