CITU demands retaining APGB HQ in Kadapa

Kurnool: A protest was held in Kurnool demanding that the headquarters of Andhra Pragathi Grameena Bank (APGB) remain in Kadapa. The demonstration, organized by the Centre of Indian Trade Unions (CITU), took place in front of the APGB Regional Office at Bhagyanagar. Protesters raised slogans opposing the proposed relocation of the bank’s headquarters.

Speaking on the occassion, CITU district general secretary MD Anji Babu claimed that there were efforts to shift the APGB headquarters to Amaravati, which he argued was unjustified. He emphasized that, traditionally, when banks are merged, the headquarters of the larger bank is retained as the primary office of the new entity. APGB Employees’ Union leader Hanumanth Reddy referred to the Reserve Bank of India (RBI) guidelines on bank mergers. He stated that, the headquarters of the larger bank should be retained as the main office of the newly formed bank. As an alternative, the headquarters could be located in the state capital. If a bank owns its own building, that location should be prioritised for the headquarters.

Based on these guidelines, Reddy argued that APGB’s headquarters should remain in Kadapa.

CITU district president PS Radhakrishna stated that relocating the bank’s headquarters would be disadvantageous to the people of the Rayalaseema region.