What is the full form of APGVB?
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What is the full form of APGVB?
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The full form of APGVB is Andhra Pradesh Grameena Vikas Bank. Andhra Pradesh Grameena Vikas Bank is Indian rural bank founded on 31 March 2006 under the Regional Rural Banks Act of 1976 and headquartered in Warangal, India.
The main purpose is to connect all the more effectively, with coordination, in the lift and development of the rural and rural non-horticultural areas, with an emphasis on the metropolitan, the rural poor, the rural ISB and rural crafts.
APGVB operating in 21 districts of Telangana and 3 districts of Andhra Pradesh. It is one of the leading bank serving in a rural area with 775 Branches & 1526 Bank Mitra point in 2 states. Out of 775 branches, 500 Branches i.e., 64% are in rural areas.
The Regional Rural Banks were claimed by the Central Government, the State Government and the Sponsor Bank who held shares in the proportions as follows:
1. Central Government – 50%,
2. State Government – 15%
3.Sponsor Bank – 35%.
The district covered by APGVB
IN TELANGANA
Khammam
Mahabubnagar
Medak
Nalgonda
Warangal
IN ANDHRA PRADESH
Visakhapatnam
Vizianagaram
Srikakulam
Amalgamated Five Regional Rural Banks
APGVB is founded as a Regional Rural Bank as per the Regional Rural Banks Act of 1976. By amalgamation, in 2006, of the following 5 banks which is sponsored by SBI.
1. Sangameswara Grameena Bank
2. Sri Visakha Grameena Bank
3. Kakathiya Grameena Bank
4. Nagarjuna Grameena Bank
5. Manjira Grameena Bank
Key people
Shri. K. Praveen Kumar-Chairman
Number of Employees
The total number of employees in APGVB bank is 2761
Product Offered by APGVB
1. Loans For Agricultural
2. Loan for Small Business & Services
3. Housing loan
4.Personal loan
5. Education loan
6. Mobile Banking
7. Internet Banking
8. Insurance
9. NEFT, RTGS, IMPS
10. Safe Deposit Lockers
11. ATM services
12. Fixed deposit
