AP Industrial Infrastructure Corporation signs MoU with Union Bank for easy lending to MSMEs

By Express press service

VIJAYAWADA: AP Industrial Infrastructure Corporation (APIIC) has exchanged a Memorandum of Understanding (MoU) with Union Bank. The agreement aims to provide loans to MSMEs in 39 industrial parks in the first phase and to other MSMEs in the next phase.

APIIC Vice President and MD J Subramaniam described the deal as another step by society towards the greater good of Micro, Small and Medium Entrepreneurs (MSMEs) under the leadership of Chief Minister YS Jagan Mohan Reddy .

The MoU between APIIC and Union Bank will enable MSMEs to overcome difficulties in terms of accessing credit facilities. APIIC VC & MD Subramaniam and Chief Managing Director of Union Bank/SLBC Brahmananda Reddy signed and exchanged the MoUs at APIIC Headquarters in Mangalagiri.

In the first phase, Union Bank will be a key partner in providing needed credit facilities to MSMEs in 39 industrial parks identified by APIIC.

APIIC VC&MD said 26 Union Bank nodal officers and some APIIC officers will be appointed in 26 districts for this purpose. He ordered officials to hold special lectures and set up special booths in the respective areas to sensitize industrialists about the loan facility.

“APIIC plays a crucial role in acting as a bridge between industrialists and bankers. APIIC has played a vital role in reopening/restarting over 500 industries owned by SC and ST entrepreneurs under YSR Jagananna Badugu Vikasam “, did he declare. said.

Union Bank Managing Director Brahmananda Reddy said working with the PA government and APIIC was a great opportunity. He expressed his joy to be part of providing credit facilities to MSMEs.

He said they will help contractors avoid loan delays and build trust among government contractors.

Quick Approvals

  • Union Bank will provide credit facilities to MSMEs in 39 industrial parks

  • The facility will be extended to manufacturers

  • The MoU will enable MSMEs to get a loan within 10 days

VIJAYAWADA: AP Industrial Infrastructure Corporation (APIIC) has exchanged a Memorandum of Understanding (MoU) with Union Bank. The agreement aims to provide loans to MSMEs in 39 industrial parks in the first phase and to other MSMEs in the next phase. APIIC Vice President and MD J Subramaniam described the deal as another step by society towards the greater good of Micro, Small and Medium Entrepreneurs (MSMEs) under the leadership of Chief Minister YS Jagan Mohan Reddy . The MoU between APIIC and Union Bank will enable MSMEs to overcome difficulties in terms of accessing credit facilities. APIIC VC & MD Subramaniam and Chief Managing Director of Union Bank/SLBC Brahmananda Reddy signed and exchanged the MoUs at APIIC Headquarters in Mangalagiri. In the first phase, Union Bank will be a key partner in providing needed credit facilities to MSMEs in 39 industrial parks identified by APIIC. APIIC VC&MD said 26 Union Bank nodal officers and some APIIC officers will be appointed in 26 districts for this purpose. He ordered officials to hold special lectures and set up special booths in the respective areas to sensitize industrialists about the loan facility. “APIIC plays a crucial role in acting as a bridge between industrialists and bankers. APIIC has played a vital role in reopening/restarting over 500 industries owned by SC and ST entrepreneurs under YSR Jagananna Badugu Vikasam “, did he declare. said. Union Bank Chief Managing Director Brahmananda Reddy said working with the PA government and APIIC was a great opportunity. He expressed his joy to be part of providing credit facilities to MSMEs. He said they will help contractors avoid loan delays and build trust among government contractors. Rapid approvals Union Bank will provide credit facilities to MSMEs in 39 industrial parks Facility will be extended to industrialists MoU will allow MSMEs to get loan within 10 days

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