The Government of India has announced á capital infusion of Rs 1,890 crore into Andhra Bank. "This will help the bank in meeting regulatory capital requirement and supporting credit growth. The major focus will be on credit expansion to MSME sector which is the main driver for employment generation,’’ Andhra Bank said in release.
In addition, the bank is focusing on digital banking while financial inclusion "continues to be the thrust area particularly in unbanked and under banked areas'',’ it said.
Andhra Bank has also initiated steps to create better ambience at the branches for the customers. The bank stock was trading down by 3.41 per cent at Rs 56.65 on the BSE.