NELLORE: In a bid to establish moneylender-free villages, the Andhra Pragathi Grameena Bank will soon launch the Tatkal Grameena Yojana scheme to offer loans at lowest interest rates to villagers.

The scheme will be implemented initially as a pilot project in 50 select branches. Each branch will offer family-based loans at lower interest rates to 25 families. "Guidelines will soon be drafted for schemes aided by Germany and those permitted by the National Bank for Agriculture and Rural Development (Nabard)," Andhra Pragathi Grameena Bank Chairman M. Obulesu told reporters on Thursday.

Moreover, the Syndicate Bank-sponsored Regional Rural Bank (RRB) would also offer loans ranging from Rs. 50,000 to Rs. 7.5 lakhs under Pragathi Jaikisan scheme to farmers. Home, education and other related loans under this scheme would be offered at the stipulated interest rates, he said.

Outlining various schemes being offered to customers, the Chairman said the bank had been offering highest interest rates on deposits for women as well as senior citizens. "It is the only bank that has been offering a higher rate of 0.25 per cent for women," he claimed.

Besides, the bank also allowed opening of `zero balance' savings bank accounts wherein account holders were not required to maintain minimum balance. In fact no amount was required to open an account, Mr. Obulesu said.

Rs. 4,700-cr. target

Encouraged by the profits, the Chairman said the bank set a target of generating business to the tune of Rs. 4,700 crores in the current fiscal to become the number one RRB in the country.

Regional Managers G. Krishna Murthy (Ongole), S. Anjaneyulu (Nellore), senior managers K. Raja Sekhar Reddy, R. Nagaiah, K. S. Sai Prasad and others were present.

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