Indian Bank to invest Rs.5,000 crore in Andhra Pradesh

Vijayawada, February 10: Indian Bank is keen to invest Rs.5,000 crore in Andhra Pradesh in sectors like infrastructure, education, tourism and hospitality.

Indian Bank Managing Director Mahesh Kumar Jain today met Chief Minister N. Chandrababu Naidu at the latter’s office in state secretariat in Velagapudi.

Naidu welcomed Jain and his team members and urged them to open zonal office in Amaravati. The bank officials responded positively to the request.

On this occasion, the state government signed an agreement with the Indian Bank for providing all loans through the bank Kapu Corporation, Brahmin Corporation, SC, BC and minority corporations.

Jain told the chief minister that half of the loans disbursed by Indian Bank are agricultural loans.

Indian Bank has 145 correspondents in Prakasam, Guntur and Krishna districts.

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