Hans news service Siddipet

TheTelangana Grameena Bank (TGB) organised a ‘mega loan mela’ here on Thursday during which bank chairman K Pratap Reddy distributed financial assistance to beneficiaries from Siddipet and Medak districts. Around 20 tractors, four harvesters, two JCB machines, nearly 50 livestock units, and loans to women SHGs were sanctioned and handed over.

The tractors and harvesters were provided under the Agriculture Infrastructure Fund (AIF) scheme. Reddy urged farmers to make effective use of government schemes offered through the bank, such as AIF and PM-KUSUM Solar.

He said distribution of the vehicles and farm machinery marks another significant step towards promoting farm mechanisation, increasing agri productivity, addressing labour shortages and improving farmers' income. The JCB machines will not only contribute to development of rural infrastructure, but also create additional self-employment opportunities.

Reddy stated that the bank remains committed to providing timely and adequate credit to farmers and rural entrepreneurs. It is continuously supporting modernisation of agriculture by facilitating access to advanced machinery and equipment. He appealed to borrowers to repay loans in a disciplined manner, noting that timely repayments enable the bank to extend credit to more beneficiaries.

He informed the bank offers MSME loans of up to ` 2 crore without collateral to eligible rural and urban enterprises and business owners. To promote agri and commercial vehicle financing, it entered into agreements with Tata Motors, Ashok Leyland and JCB, making loan disbursement simpler and more convenient.

Reddy said the bank provides all types of rural loans at highly competitive interest rates; offers one of the highest interest rates on FDs compared to other banks. It is committed to ensuring faster loan sanctions and introduced internal reforms to expedite loan approvals.

He urged customers to enrol in the Central government social security schemes—Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY)—which provide life/accident insurance and pension at low premiums.

The chairman stated the bank's total business stands at ` 84,849 crore, comprising ` 38,061 crore in deposits and ` 46,788 crore in advances. It aims to achieve ` 1 lakh crore in total business by March 2028. The bank is making significant progress in digital services.

The beneficiaries expressed gratitude to the bank for providing timely assistance. The support would help them adopt modern farming practices, improve operational efficiency and contribute to the economic development of villages.

Regional Manager E Rajaiah said--inspired by Reddy’s leadership and with dedicated efforts of branch managers and field officers--the bank has been able to implement several customer welfare initiatives successfully.

Branch managers, loan management hub staff and regional office officials attended.