CGG Bank Morampudi branch shifted to Aravinda Nagar

Rajamahendravaram (East Godavari District): Chaitanya Godavari Grameena Bank (CGGB) is running on the path of progress with 233 branches in eight districts and doing a business of Rs 15,700 crore, said T Kameswara Rao, CGGB Chairman and Union Bank DGM. The Morampudi branch was shifted to a new building at Aravinda Nagar on Monday. After inaugurating the new building, Kameswara Rao spoke to the media along with Regional Manager P Srinivas and Branch Manager V Vijaya.

The CGGB chairman said that Rs 600 crore loans have been sanctioned to farmers and Rs 1,900 crore loans to women. Personal loans worth Rs 155 crore have been given and 6.95 per cent interest is being given to senior citizens on deposits of more than Rs 15 lakh under Ujwal scheme.

The chairman said that they are giving more interest compared to other banks on regular deposits. He said that it has earned a net profit of Rs 76 crore till June 30. He clarified that the net worth of NPA has reached zero and the gross NPA is Rs 71 crore.

He said that CGGB, which was earlier running with the support of Andhra Bank, is now running with the support of Union Bank. He said that steps are being taken to establish a total of 15 new branches including the ones at Rajahmundry Innis Peta and Kakinada Godari Gunta areas soon. Staff Anjaneyulu, KVVS Rama Reddy, and others participated.