Hyderabad: Andhra Bank has conducted customers meet exclusively for MSME and retail credit borrowers at Koti Buildings Office on Wednesday. The meeting was attended by the local branch managers and borrowers of the bank.
K Rajendra Kumar, zonal manager conveyed the message of reduction of Marginal Cost of Funds Based Lending Rate by 25 Basis Points w.e.f. August 16 and this will benefit the customers of the bank in a big way as it significantly reduces the interests burden on retail loans such as housing loans, educational loans, property term loans and MSME/ SME advances.
All the borrowers were requested to avail the loans in a big way and avail the benefits of reduced interest rates in advances, a press release said.
The meeting was attended by N Chandra Babu, Deputy General Manager, Naresh Kumar, Assistant General Manager, SME Express, P Subrahmanyam, Assistant General Manager and other officials have addressed the gathering about various credit schemes available in the bank.
Meanwhile, at a meeting organised by Andhra Bank Zonal Office Hyderabad-2, Zonal Manager, M Ravindra Babu said through 78 branches in the zone, a total of Rs 11,150 crore business was done. This includes Rs 3,600 crore loans and Rs 7,550 crore deposits through 109 ATMs, 52 BNAs and other online services, the bank was catering to 6.55 lakh account holders.