Financial Daily from THE HINDU group of publications
Tuesday, Oct 21, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 21, 2003 |
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Money & Banking
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Interest Rates Industry & Economy - Rural Development Andhra Bank cuts rate for SHGs Our Bureau
Hyderabad , Oct. 20 ANDHRA Bank has decided to reduce the rate of interest by 50 basis points to 8.5 per cent from the existing level of 9 per cent in its efforts to encourage the Self Help Groups (SHGs) movement across the country, especially in view of the good recovery performance under SHG-Bank linkage programme. The new rate would come into effect from November 1, the bank said in a press release. Since inception of SHG-Bank linkage programme, the bankhas financed 91,434 groups with Rs 222.62 crore, said the bank General Manager, Mr A.L. Nageswara Rao.
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