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It has approached a consortium of national banks for the purpose
The State government is availing a loan of ₹25,000 crore from a consortium of national banks, and plans to clear all types of bills before the end of this financial year.
According to information, the government has created a new entity, Andhra Pradesh State Development Corporation (APSDC), exclusively to raise the loan.
Through the process that had begun about three months ago, the government could so far mobilise about ₹6,000 crore from the consortium comprising the State Bank of India (SBI), the Punjab National Bank (PNB), the Union Bank of India (UBI), and the Canara Bank.