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C.R. Sukumar

Hyderabad , June 20

It's time for reinventing the wheel at Andhra Bank. To make its products and services more attractive to customers, the bank management has decided to do this exercise at regular intervals.

The bank has also decided to come out with new products, both in deposit and credit in the retail segment, every second month.

"We plan to come out with new products and services for each target group on a regular basis, apart from reinventing our own products and services that were very popular in the past," the Andhra Bank Chairman and Managing Director, Mr K. Ramakrishnan, said.

Having studied the needs of customers in the recent rough stock markets, the bank found that they wanted safe, stable and reasonably attractive returns. "We are planning to come out with deposit products of eight to ten years of maturity with attractive interest rate of up to eight per cent. Of course, for senior citizens we offer additional interest of 50 basis points," he told Business Line.

Kiddy Bank

"Once upon a time, Andhra Bank was very popular for its `Kiddy Bank' product. We are now going to reinvent this product and aggressively market it," he said.

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