Andhra Pragathi Grameena Bank only Grameena Bank to achieve 98% loan recovery: Regional Manager

Anantapur: Andhra Pragathi Grameena Bank (APGB) has registered second place after SBI in terms of business and reach of banking services and top in loans recovery. The bank registered 98.7 per cent recoveries of all forms of loans in the 2017-18 fiscal.

The bank reaches out to all sectors and provides hassle-free loans apart from an effective loans recovery mechanism, which is the key to the success of bank operations. The bank which operates in the five districts of Anantapur, Kurnool, Kadapa, Chittoor and Nellore has a turnover of Rs 25,600 crore.

APGB Regional Manager (RM) G Siva Sankar Reddy told The Hans India that the bank is opening its 65th branch at Kambadur mandal in the district. The bank has 64 branches and is reaching out to even unbanked areas through its mobile ATM.

The turnover of the bank in the district is Rs 3,824 crore. It disbursed crop loans worth Rs 122 crore, short term and long-term loans of Rs 712 crore, Rs 63 lakh to 200 tenant farmers, Rs 36 crore to MSME loans and Rs 31 crore under self-employment schemes. Out of the 53 grameena banks in the country, APGB is the only bank which achieved 98 per cent loan recoveries, Reddy says.

The bank has received the union government's award for giving Atal pensions to 1,000 beneficiaries through the bank branches. The bank is known to be employees and farmers-friendly. As part of its corporate social responsibility, it is sponsoring animal and human health check-ups and embarking on desilting of village tanks and creating technology awareness to farmers on automation of farm technology.