Money & Banking

SBI-sponsored RRBs launch video-KYC facility

Our Bureau | Updated on March 02, 2021

Telangana Grameena Bank, Andhra Pradesh Grameena Vikas Bank become first RRBs in the country to adopt this tech that offers zero contact onboarding of customers, at par with commercial banks

Hyderabad, March 2

Telangana Grameena Bank (TGB) and Andhra Pradesh Grameena Vikas Bank (APGVB) have launched digital savings account opening facility through Video-Know Your Customer (KYC).

Formally launching the feature virtually, Dinesh Kumar Khara, Chairman, State Bank Group, said regional rural banks (RRBs) have the skill set and ability to adopt new technologies.

The adoption of new technologies such as video-KYC is a reflection of the ‘progressive’ thinking of RRBs, he added.

Both banks, sponsored by SBI, will change the complexion of rural economy and make the parent bank ‘proud’, the SBI Chairman said.

With this, TGB and APGVB have become the first among RRBs in the country to adopt state-of-the-art technologies having full security features for zero contact onboarding of customers, which are at par with commercial banks.

According to V Arvind, Chairman, TGB, with this new facility, RRBs will be able to further increase their CASA portfolio.

TGB now operates in 18 districts in Telangana while APGVB has presence in 19 districts in Telangana and five districts in Andhra Pradesh.

Published on March 02, 2021

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