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Sunday, May 23, 2004

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Andhra Bank to finance LPG connections

Our Bureau

Hyderabad , May 22

ANDHRA Bank has announced that it would be shortly launching a new scheme for financing LPG connections in rural households.

In a press release here on Saturday, the bank said the scheme enables individuals and members of self-help groups to get an estimated loan component of Rs 3,450 for securing an LPG connection.

The scheme, `Mahila Suvidha,' carried a 9 per cent simple interest, repayable in five years, the bank said.

The bank proposes to implement the scheme first in East and West Godavari, Srikakulam and Guntur districts since in these districts the bank has lead bank responsibilities. Stating that it has earmarked Rs 30 crore to lend under this scheme, the bank said it would extend the scheme to other parts of the State in a phased manner.

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Stories in this Section
Forex reserves up $49 million

ICICI Bank in the black under US GAPP
Andhra Bank to finance LPG connections
Cholamandalam MS posts Rs 97-crore premium
Bajaj Allianz gross premium income up 60%
Union Bank launches Web-based remittance scheme for NRIs in US
SBH has new MD
Charminar Bank gets Rs 123 cr

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