ENA State 2022-08-05 11:08:15 <p><strong>Vijayawada, Aug 5 (KNN)</strong> Primary financial institution of MSME Small Industries Development Bank of India (SIDBI) will refinance Andhra Pragathi Grameena Bank (APGB) which majorly focuses on MSME lending.</p> <p>An agreement was signed and exchanged between APGB general manager P. R. Padgetwar and SIDBI, Vijayawada deputy general manager P. Rajendra Prasad.</p> <p><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></p> <p>In 2006 APGB started its operations by lending to agriculture and self-help groups in rural areas and expanded its services to urban and semi-urban areas with more focus on lending MSME.</p> <p>Padgetwar said that they are proud to partner with SIDBI as the first Regional Rural Bank (RRB) to participate in their vision of empowering the MSMEs.</p> <p>Highlighting SIDBIs role in empowering the MSME ecosystem across India, Prasad said, This arrangement with APGB will act as a catalyst in upscaling the MSME segment, especially in semi-urban and rural areas.</p> <p>SIDBI also aims to expand their refinance services to other banks as well. <em><strong>(KNN Bureau)</strong></em></p> 30116 https://knnindia.co.in/news/newsdetails/state/sidbi-to-refinance-msme-focused-andhra-pragathi-grameena-bank 2022-08-05 11:08:15 knnindia.co.in