The Andhra Pragathi Grameena Bank (APGB) started the first Ultra small branch in the district at Gounipalli village of O.D.Cheruvu mandal of Anantapur district here on Thursday.
The General Manager of Syndicate Bank, V.K.Saigal, inaugurated the branch.
Explaining the functions of the ultra small branch which shall work under the Gounivaripalli branch of the APGB, the chairman of the APGB, D. Sampath Kumar Chary, said that a bank officer will visit the village at specified times every week along with a laptop and take care of most of their needs for which they would have to travel to the bank.
The Kadiri regional office of the APGB had taken the concept of banking correspondents to provide services to the rural people. He handed over two hand held machines and 450 smart cards with the biometric details of the account holders in the respective village to banking correspondents.
He said that 546 villages were being covered by 148 banking correspondents in Kadiri region of the bank alone and that people could deposit and withdraw amounts directly with him rather than take pains to visit the bank. On the occasion, 75 solar units financed by the APGB, Gounivaripalli branch under the Jawaharlal Nehru National Solar Mission (JNNSM) were distributed. The Gounivaripalli bank manager, Padmanabham, was complimented for the lead he had taken in this regard.