Andhra Pradesh Grameena Vikas Bank opens 50 branches

Andhra Pradesh Grameena Vikas Bank (APGVB) opens 50 branches.

Andhra Pradesh Grameena Vikas Bank (APGVB), a Regional Rural Bank (RRB) sponsored by countries largest lender State Bank of India (SBI), has opened 50 new branches in different parts of the State on March 25, 2013.

“As per the directions of Reserve Bank of India, new branches are opened mostly in rural areas to serve the rural population,’’ K. Lakshmana Rao, Chairman, APGVB, said in a release.

Of the 50 new branches, 34 are in rural centres, 15 in semi-urban while one is an urban branch. All the new branches are integrated with core banking solution through V-sat installation.

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