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​​ "This partnership with a financial powerhouse like SBI will provide a significant boost to micro food processing enterprises in the state," said APFPS Chief Executive Sridhar Reddy in a press release, adding that maximum number of units will be covered. As part of this deal, SBI will offer collateral-free loans of up to Rs 10 lakh to eligible beneficiaries, following the guidelines of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under the Agri Infrastructure Fund.

Sridhar reddyFormalisation of micro food processing enterprisesAndhra pradesh food processing societyCredit guarantee fund trust forSmall enterprisesAgri infrastructure fundState bankPrime minister formalisationMicro food processing enterprisesExecutive sridhar reddyGuarantee fund trustAgri infrastructureState bank of indiaCredit guarantee fund trustMicro food processing units