Thu Oct 09 15:43:07 UTC 2025: **FOR IMMEDIATE RELEASE**

**AIC and APGB Partner to Protect Andhra Pradesh Shrimp Farmers**

**GUNTUR, Andhra Pradesh, October 9, 2025** – The Agriculture Insurance Company of India Limited (AIC) and Andhra Pradesh Grameena Bank (APGB) today announced a strategic bancassurance partnership to provide comprehensive insurance coverage and financial protection to shrimp farmers across Andhra Pradesh. The Memorandum of Understanding (MoU) was signed in Guntur on Thursday, October 9th, in a ceremony attended by key officials from both organizations.

The collaboration aims to integrate AIC’s insurance expertise with APGB’s extensive rural network, empowering shrimp farmers, mitigating production risks, and promoting a sustainable blue economy in the coastal regions of the state.

“This partnership is a major step toward advancing rural financial inclusion and aquaculture risk management,” stated K. Pramod Kumar Reddy, Chairman of APGB. “By working together, we can provide vital support to shrimp farmers and help them build sustainable livelihoods.”

Lalit Kharbanda, General Manager of AIC, echoed this sentiment, adding, “We are excited to partner with APGB to bring our insurance solutions to the shrimp farming community in Andhra Pradesh. This collaboration will help farmers manage risks and secure their financial future.”

The initiative aims to provide shrimp farmers with the financial security needed to withstand production risks. Beyond shrimp, AIC and APGB intend to expand their partnership to include livestock insurance, creating a broader safety net for farmers and helping the bank safeguard its agricultural loan portfolios. This expanded coverage will further strengthen rural financial resilience in the region.

The signing ceremony was attended by Lalit Kharbanda, General Manager, AIC; G.G. Raju, Regional Manager (Andhra Pradesh), AIC; J. Nithish Goud, State Business Head, AIC; and from APGB, K. Pramod Kumar Reddy, Chairman; K. Janardhan Rao, General Manager; and A. Raja Sekharam, General Manager.

**About Agriculture Insurance Company of India Limited (AIC):**

AIC is a leading provider of agricultural insurance solutions in India.

**About Andhra Pradesh Grameena Bank (APGB):**

APGB is a regional rural bank serving the state of Andhra Pradesh.

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