Financial Daily from THE HINDU group of publications
Tuesday, May 18, 2004
Financial Daily from THE HINDU group of publications Tuesday, May 18, 2004 |
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Money & Banking
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Public Sector Banks Andhra Bank opens two more branches in Vizag Our Bureau
Visakhapatnam , May 17 ANDHRA Bank is setting up two more branches in Visakhapatnam shortly, one at Muralinagar and the other at Madhurawada, besides three more extension counters, according to Mr J. Sarat Babu, the Deputy General Manager. At a press meet here on Monday, Mr Sarat Babu said there were 78 branches and nine extension counters at present in the Visakhapatnam zone comprising the districts of Visakhapatnam, Vizianagaram and Srikakulam. The business of the zone during 2003-2004 amounted to Rs 1,800 crore (Rs 1,280 crore in deposits and Rs 520 crore in advances) and the target was to take it to Rs 2,275 crore during the current financial year (Rs 1,585 crore in deposits and Rs 690 crore in advances). He said the priority sector lending, presently of the order of Rs 232 crore, would be enhanced to Rs 375 crore. The bank had set up agri-business centres at Chodavaram, Rajam and Tekkali branches besides the specialised agri-finance branch here. Two specialised SSI branches were located at Visakhapatnam and Amadalavalasa (Srikakulam district), he said. He said the bank had 12 ATMs in the zone and nine more would be installed during the current year. He said the bank would issue demand drafts free of charge to anyone who wanted to contribute to the "Sri Varahalakshmi Narasimhaswamivari Nitya Annadana scheme" at the famous Narasimaha temple at Simhachalam near here. He said his bank, the lead bank in Srikakulam district, would continue to finance self-help groups on a large scale.
More Stories on : Public Sector Banks | Andhra Pradesh
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