Latest news with #APGB
The Hindu
32 minutes ago
- Business
- 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.
Hans India
16-07-2025
- Business
- Hans India
AP Grameena Bank donates Rs 44.81L to TTD
Tirupati: As part of its Corporate Social Responsibility (CSR) initiatives, Andhra Pradesh Grameena Bank (APGB) has extended financial assistance for the installation of a Security Luggage Scanner at the Alipiri check-post, a critical entry point for pilgrims proceeding to Tirumala. A cheque amounting to Rs 44,81,059 was handed over by APGB Chairman Pramod Kumar Reddy to TTD Additional Executive Officer Ch Venkaiah Chowdary at Tirumala. The initiative aims to enhance the security infrastructure and ensure a safe pilgrimage experience for devotees visiting the holy shrine. APGB Tirupati Regional Manager Prakashratna Babu, was also present on the occasion.
The Hindu
20-06-2025
- Business
- The Hindu
APGB headquarters gets 100 KW rooftop solar facility
The annexe building of Andhra Pragathi Grameena Bank (APGB) headquarters at Kadapa got a 100 KW on-grid rooftop solar facility as part of PM Surya Ghar Muft Bijli Yojana. 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.
