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15 bank branches to come up in Srikakulam
As part of improving banking activities in all areas, public sector banks have proposed to start 15 new bank branches across the district with initiation of lead bank district manager P Venkateswara Rao.
Srikakulam: As part of improving banking activities in all areas, public sector banks have proposed to start 15 new bank branches across the district with initiation of lead bank district manager P Venkateswara Rao.
According to Reserve Bank of India (RBI) guidelines banks must start new branches at uncovered areas where 5,000 population is residing. Currently, the district has 303 bank branches including public and private sector banks. Out of total 303 branches 166 are situated in rural areas, 83 are being run in semi-urban locations and 54 branches
in urban areas. In total, 30 banks are providing services to 37,61,533 account holders. According to lead bank officials, till November-end this year, the deposits mobilised in all banks stood at Rs 9,350 crore and granted loans worth Rs 7,325 crore.
State Bank of India (SBI), Andhra Bank (AB) and AP Gramina Vikas Bank (APGVB) have decided to start these new bank branches, called as banking outlets under rural service. SBI will start two branches at Loddaputti and Belagam in Itchapuram and Kaviti mandals.
APGVB will start nine branches at Solikiri, Koyyam, Kuppili,Thonangi, Neradi, Koduru, Rapaka, Nuvvalarevu and Sangaruvanipeta in Bhamini, Etcherla, Gara, Kotturu, Polaki, Ponduru and Vajrapukotturu mandals. AB will open four branches at Eedupuram, NK Rajapuram, Kancharam and Thogiri in Itchapuram, Palakonda, Rajam and Saravakota mandals.
“These new branches will start operation by March 2018. They will work five days in a week, providing all services to customers,” lead bank district manager P Venkateswara Rao told The Hans India.
