Financial Daily from THE HINDU group of publications
Sunday, May 23, 2004
Financial Daily from THE HINDU group of publications Sunday, May 23, 2004 |
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Money & Banking
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Consumer Finance Industry & Economy - Petroleum Andhra Bank to finance LPG connections Our Bureau
Hyderabad , May 22 ANDHRA Bank has announced that it would be shortly launching a new scheme for financing LPG connections in rural households. In a press release here on Saturday, the bank said the scheme enables individuals and members of self-help groups to get an estimated loan component of Rs 3,450 for securing an LPG connection. The scheme, `Mahila Suvidha,' carried a 9 per cent simple interest, repayable in five years, the bank said. The bank proposes to implement the scheme first in East and West Godavari, Srikakulam and Guntur districts since in these districts the bank has lead bank responsibilities. Stating that it has earmarked Rs 30 crore to lend under this scheme, the bank said it would extend the scheme to other parts of the State in a phased manner.
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