The Hindu : Andhra Pradesh / Hyderabad News : APSFC inks MoU with Central Bank of India

Online edition of India's National Newspaper
Sunday, Aug 06, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

APSFC inks MoU with Central Bank of India

Staff Reporter

For speedy flow of credit to big business houses

To provide integrated package of assistances in the form of term loans

Working capital to assisted units under one-shop-stop concept

HYDERABAD: A Memorandum of Understanding had been signed between Andhra Pradesh State Financial Corporation (APSFC) and Central Bank of India on Friday for integrated, speedy flow of credit to industrial customers and big business houses.

The MoU also envisaged easy facility of working capital to assisted units in the State.

APSFC Chairman J. Rambabu said this has marked the beginning of a long-standing relationship with the bank and that it would facilitate delivery of an integrated package of assistances in the form of term loans and working capital under a `One-stop-shop' concept. Chairman and Managing Director of Central Bank of India M.H. Daruwalla has said small and medium enterprises (SME) would benefit with the combined experience of the two financial institutions.

She underlined the importance of small scale industries and SME sectors in a developing economy.

Others present included APSFC MD, Ajeya Kallam.

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