Now Reading: Telangana Grameena Bank distributes Rs 84,849 crore loans at mega mela
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Telangana Grameena Bank distributes Rs 84,849 crore loans at mega mela
The Story in Brief
Telangana Grameena Bank (TGB) organised a mega loan mela in Siddipet on Thursday, distributing tractors, harvesters, JCB machines, livestock units and loans to women self-help groups to beneficiaries from Siddipet and Medak districts. Bank chairman K Pratap Reddy handed over the assistance, which included 20 tractors and four harvesters provided under the Agriculture Infrastructure Fund (AIF) scheme.
Reddy said the distribution promotes farm mechanisation, productivity and income, and addressed labour shortages. The bank also offers MSME loans up to Rs 2 crore without collateral, and has tie-ups with Tata Motors, Ashok Leyland and JCB for agri and commercial vehicle financing. Reddy urged customers to enrol in central social security schemes including PMJJBY, PMSBY and Atal Pension Yojana.
The bank's total business stands at Rs 84,849 crore, comprising Rs 38,061 crore in deposits and Rs 46,788 crore in advances. TGB aims to achieve Rs 1 lakh crore in total business by March 2028.
Indian Opinion Analysis
TGB is one of the largest regional rural banks in Telangana, sponsored by State Bank of India. The AIF scheme, launched in 2020, provides subsidised loans for farm infrastructure. The bank's target of Rs 1 lakh crore in business by 2028 implies a 3 per cent annual growth from the current Rs 84,849 crore. Watch for TGB's quarterly advances data to see if the pace of disbursement picks up, especially for tractors and harvesters, where demand is linked to the monsoon and kharif sowing season.
Source: thehansindia.com
This story was synthesised by AI from the source linked above. Methodology and corrections.
