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Tuesday, Mar 18, 2003

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Andhra Bank to open more TFCs

Our Bureau

HYDERABAD: Andhra Bank plans to launch about 50 trade finance centres (TFCs) in different parts of the country during the current financial year.

The bank has announced the opening of four TFCs in Hyderabad. These are at Nampally, Chikkadapally, Malakpet and Ashoknagar.

The TFC is a branch within a branch, with the in-charge having the powers to sanction loan up to Rs 5 lakh to individuals, proprietary concerns and partnership firms for working capital purposes.

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