Andhra Pradesh - Srikakulam   

Grameena bank branches opened

Srikakulam: Andhra Pradesh Grameena Vikas Bank has launched its branches at Housing Board Colony and Krishnapuram in Amudalavalasa here on Tuesday. District Collector Nagulapalle Srikanth launched the Housing Board branch by lighting the lamp.

Bank general manager M. Krishna Rao said that the bank emerged as the largest grameena bank in the country with the merger of five grameena banks. The total number of branches were 516 in the country, he said.

The Srikakulam region fixed a target of mobilising deposits of Rs. 60 crores in 2008-09 and so far raised Rs.30 crores despite the economic slowdown. The bank, he said, succeeded in raising Rs. 24 crores through Vikas Express 400 scheme from 4,650 customers.

The bank targeted to issue loans to the tune of Rs.104 crores in the present fiscal and so far extended loans of Rs.74 crores to farmers. The bank advanced Rs.50 crores for the agriculture sector and Rs.50 crores for self-help groups.

The bank also waived loans to the tune of Rs.50 crores and computerised 35 of its 57 branches in the region. Soon the bank would have branches at Balaga, Sompeta and Mukagam in the district. The bank opened 93000 No Frills savings accounts as part of its social obligation in relation to government schemes.

DRDA Project Director Babu Rao Naidu and SETSRI CEO Surangi Mohana Rao were also present.

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