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Andhra Pradesh Grameena Vikas Bank

banking-image
Jul 23, 2024
15 Mins

The Andhra Pradesh Grameena Vikas Bank (APGVB) is an embodiment of robust rural banking in India, specifically catering to the financial needs of the states of Andhra Pradesh and Telangana. Established on March 31, 2006, APGVB emerged from the amalgamation of five earlier regional rural banks, namely Sri Visakha Grameena Bank, Nagarjuna Grameena Bank, Sangameswara Grameena Bank, Manjira Grameena Bank, and Kakathiya Grameena Bank, marking a significant milestone in the consolidation of rural banking resources aimed at enhanced efficiency and service reach.

This union was driven by the sponsorship of the State Bank of India (SBI), ensuring a strong backing and widespread network. Headquartered in Warangal, India, the APGVB operates under the ownership structure of the Government of India holding a 50% stake, SBI with 35%, and the Government of Andhra Pradesh at 15%. The bank’s operational footprint covers an extensive network of 772 branches that efficiently serve a large rural demographic, highlighting its substantial presence in the rural banking sector.

The workforce at APGVB, which counts 3239 employees, is dedicated to advancing financial inclusion by offering a variety of products like agricultural loans, small business and service loans, housing and personal loans, and educational loans.

Additionally, APGVB brings cutting-edge banking services to its clients' fingertips with offerings such as mobile banking, internet banking, and a range of deposit products with attractive interest rates which cater to the varying needs of its customer base.

In terms of its geographic service area, APGVB has a significant impact in multiple districts across Telangana and Andhra Pradesh, regions that are pivotal to India's agrarian economy. The comprehensive list includes districts from Bhadradri Kothagudem to Yadadri Bhuvanagiri in Telangana, and from Alluri Sitaram Raju to Vizianagaram in Andhra Pradesh, underscoring the bank’s critical role in rural financial empowerment and economic support. As part of its strategic vision, APGVB is not only focused on financial products but also places a strong emphasis on contributing to rural welfare and development.

This approach aligns with its foundational goals of upliftment and development of the Rural Farm Sector and Rural Non-Farm Sector, with a particular focus on the deprived and rural poor. The bank’s impact on rural development is further magnified through its contributions to various sectors via tailored products and services that address the unique challenges faced by rural residents.

Looking ahead, APGVB continues to build on its rich legacy of serving the rural heartlands of Andhra Pradesh and Telangana, contributing to the broader objective of financial inclusion and rural development advocated by the Indian government. With robust backing from powerful stakeholders like the Government of India and SBI, the Andhra Pradesh Grameena Vikas Bank is well-positioned to expand its footprint further and deepen its impact in the rural banking landscape of India.

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Want to Achieve any of the below Goals upto 80% faster?Trusted by 3 Crore+ Indians
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
credit-cards

Andhra Pradesh Grameena Vikas Bank

banking-image
Jul 23, 2024
15 Mins

The Andhra Pradesh Grameena Vikas Bank (APGVB) is an embodiment of robust rural banking in India, specifically catering to the financial needs of the states of Andhra Pradesh and Telangana. Established on March 31, 2006, APGVB emerged from the amalgamation of five earlier regional rural banks, namely Sri Visakha Grameena Bank, Nagarjuna Grameena Bank, Sangameswara Grameena Bank, Manjira Grameena Bank, and Kakathiya Grameena Bank, marking a significant milestone in the consolidation of rural banking resources aimed at enhanced efficiency and service reach.

This union was driven by the sponsorship of the State Bank of India (SBI), ensuring a strong backing and widespread network. Headquartered in Warangal, India, the APGVB operates under the ownership structure of the Government of India holding a 50% stake, SBI with 35%, and the Government of Andhra Pradesh at 15%. The bank’s operational footprint covers an extensive network of 772 branches that efficiently serve a large rural demographic, highlighting its substantial presence in the rural banking sector.

The workforce at APGVB, which counts 3239 employees, is dedicated to advancing financial inclusion by offering a variety of products like agricultural loans, small business and service loans, housing and personal loans, and educational loans.

Additionally, APGVB brings cutting-edge banking services to its clients' fingertips with offerings such as mobile banking, internet banking, and a range of deposit products with attractive interest rates which cater to the varying needs of its customer base.

In terms of its geographic service area, APGVB has a significant impact in multiple districts across Telangana and Andhra Pradesh, regions that are pivotal to India's agrarian economy. The comprehensive list includes districts from Bhadradri Kothagudem to Yadadri Bhuvanagiri in Telangana, and from Alluri Sitaram Raju to Vizianagaram in Andhra Pradesh, underscoring the bank’s critical role in rural financial empowerment and economic support. As part of its strategic vision, APGVB is not only focused on financial products but also places a strong emphasis on contributing to rural welfare and development.

This approach aligns with its foundational goals of upliftment and development of the Rural Farm Sector and Rural Non-Farm Sector, with a particular focus on the deprived and rural poor. The bank’s impact on rural development is further magnified through its contributions to various sectors via tailored products and services that address the unique challenges faced by rural residents.

Looking ahead, APGVB continues to build on its rich legacy of serving the rural heartlands of Andhra Pradesh and Telangana, contributing to the broader objective of financial inclusion and rural development advocated by the Indian government. With robust backing from powerful stakeholders like the Government of India and SBI, the Andhra Pradesh Grameena Vikas Bank is well-positioned to expand its footprint further and deepen its impact in the rural banking landscape of India.

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More