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Our Bureau

Hyderabad , Aug. 4

The Andhra Pradesh State Financial Corporation (APSFC) has entered into a memorandum of understanding with Central Bank of India to ensure integrated and speedy flow of credit to industrial customers and provide easy facility of working capital to all the assisted units in State.

The bank's Chairperson and Managing Director, Ms H.A. Daruwalla, and the APSFC Chairman, Mr J. Rambabu, have signed the MoU here on Friday.

In a press release here, the Corporation said the alliance facilitates co-financing both term loans and working capital loans under a single window concept to small and medium enterprises (SMEs) and also large industrial units. The bank would also assist APSFC in extending larger term loans of over Rs 5 crore, apart from working capital to these units.

APSFC, which is basically a term loan-lending organisation, had earlier entered into similar MoUs with Bank of India, State Bank of Hyderabad and Andhra Bank.

More Stories on : Credit Market | Alliances & Joint Ventures | Andhra Pradesh

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