Andhra Pradesh Grameena Bank

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Andhra Pradesh Grameena Bank
Native name
ఆంధ్రా ప్రదేశ్ గ్రామీణ బ్యాంక్
Company type Regional Rural Bank
Industry Financial
Regional Rural Banks
Predecessor
  • Andhra Pradesh Grameena Vikas Bank
  • Andhra Pragathi Grameena Bank
  • Chaitanya Godavari Gramin Bank
  • Saptagiri Gramin Bank
FoundedMay 1, 2025;7 months ago (2025-05-01)
Headquarters Guntur, Andhra Pradesh,
India
Number of locations
1351 Branches
Area served
 Andhra Pradesh
Key people
 Shri K Pramod Kumar Reddy (Chairman)
Products
Services
Owner Government of India (50%)

Government of Andhra Pradesh (15%)

Union Bank of India (35%)
Parent Ministry of Finance, Government of India
Website

The Andhra Pradesh Grameena Bank (APGB) is an Indian Regional Rural Bank (RRB) in Andhra Pradesh established on 1 May 2025. [1] [2] The bank was formed by the amalgamation of Andhra Pradesh Grameena Vikas Bank, Andhra Pragathi Grameena Bank, Chaitanya Godavari Gramin Bank and Saptagiri Gramin Bank under The "One State, One RRB" [3] policy of government.

Contents

History

Andhra Pragathi Grameena Bank

Andhra Pragathi Grameena Bank was formed on June 1, 2006 after approval from Government of India with the merger of Rayalaseema Grameena Bank, Sri Anantha Grameena Bank and Pinakini Grameena Bank. [4] Andhra Pragathi Grameena Bank was formed as per Regional Rural Banks Act 1976. The bank has 552 branches in Andhra Pradesh. [5] In terms of bank's outreach in business, its only second after State Bank of India(SBI) in terms of its reach out and banking services to customers and for recovering the loans its placed on top. [6]

See also

References

  1. ↑ Govt of India Notification CG-DL-E-07042025-262329 dated 07 April 2025 issued by the Department of Financial Services
  2. ↑ "Govt announces One State, One RRB implementation from May 1, 2025".
  3. ↑ Livemint (8 April 2025). "'One state-one RRB' to be effective from May 1 after govt approves consolidation of 15 regional rural banks | Mint". mint.
  4. ↑ "Andhra Pragathi Grammena Bank expands; to recruit 350 staff". Deccan Chronicle. 14 October 2017. Retrieved 12 October 2021.
  5. ↑ "Grameena bank earns ₹286 crore profit". The Hindu. 18 June 2021. Retrieved 12 October 2021.
  6. ↑ "Andhra Pragathi Grameena Bank only Grameena Bank to achieve 98% loan recovery: Regional Manager". thehansindia.com. 2 October 2018. Retrieved 12 October 2021.
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