Staff Reporter

NELLORE: The Andhra Bank (AB) will soon open a back office in the city which will speed up the account openings and clearing process. Once the office is launched pass books, cheque books and ATM debit cards will be issued within 30 minutes to the account holder, said the bank Deputy General Manager D.V.N.Rao.

Speaking to the newsmen here on Wednesday, the DGM said AB is operating 76 branches and 18 Automatic Teller Machine (ATMs) in Ongole zone (Prakasham and Sri Potti Sriramulu Nellore districts). The bank is planning to open more branches, including one at Muthukur village and ATMs in rural areas where the business is good. Andhra Bank will extend home loans facility from June 1, 2009 at eight percent interest in the first year and later the interest rates will be decided based on the market rates on home loans. The bank management is concentrating on vehicle and education loans.

Earlier, the staff of Andhra Bank, main branch located at Brundavanam in the city organised ‘Sankalp’ (customers’ meet).

Chief Manager A.Venkatramaiah presided over the meeting.

Customers’ meets

Anantapur Staff Reporter adds: Customers’ meetings were held in all branches of Andhra Bank in the district on Wednesday to commemorate the bank achieving Rs. 1 lakh crore business during the 2008-09 financial year. Customers were explained about the new services introduced by the bank during the meetings.

In New Town branch here Chief Manager K.V. Somaraju explained to the customers that all 1,432 branches of the bank in the country were brought under core banking system and they could carryout their financial transactions instantly now. He also told the customers about the new insurance scheme introduced by the bank. At Cocoon Market branch in Dharmavaram, branch manager Guruprasad stated that the branch had Rs. 59 crore transactions during 2008-09. Customers got their doubts clarified on various bank transaction related issues.