ANDHRA PRADESH

‘Abhaya’ nominees given cheques

A helping hand: Andhra Bank Deputy General Manager M. Somanadham on Saturday handing over cheques to kin of the Abhaya account holders in Guntur.

A helping hand: Andhra Bank Deputy General Manager M. Somanadham on Saturday handing over cheques to kin of the Abhaya account holders in Guntur.   | Photo Credit: — T. Vijaya Kumar

Special Correspondent

Widows of two Abhaya account holders get Rs. one lakh each

GUNTUR: Andhra Bank with 126 branches in Guntur zone covering Prakasam and Guntur districts, did a business of Rs.4,943.67 crore by last calendar year-end in the current fiscal, Deputy General Manager M. Somanadham said here on Saturday.

At a function here to handover the cheques of Rs.1 lakh each to widows of two Abhaya account holders at Agriculture Marketyard branch, in the Andhra Bank Zonal Office here, the DGM said that this was an insurance-linked account in which the account holders’ kin are given compensation for natural or accidental death.

Challa Lakshmi and Challa Saidamma, mother-in-law and daughter-in-law who lost their husbands -- one in accident and the other due to a stomach ailment recently – were given the cheques in the presence of Lead Bank Manager Prasad, and other bank officials. The DGM told media persons during the press conference that bank had achieved Rs.95,770 crore business countrywide and was expecting to cover entire country under the Core Banking Solution Network by March 2009.

In the Guntur Zone only 23 remote branches were yet to be brought under the CBS and that would be completed by March and improve its deposits from current 2008 year-end Rs.2,564.77 crore to as close to Rs.3,000 crore as possible. Currently advances were Rs.2,398.9 crore and out of that Rs.1,503 crore was in the agriculture and priority sector lending.

The retail sector lending was Rs.161 crore in housing and Rs.144 crore in education. The lending for self-help groups was Rs.148 crore. The bank currently has 30 ATMs in the two districts in the zone. The non-performing assets were only 0.54 per cent in the zone, said Mr. Somanadham said.

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