APGVB opens one lakh accounts

Warangal: The Andhra Pradesh Grameena Vikas Bank (APGVB) has opened more than one lakh new bank accounts for the beneficiaries of Direct Benefit Transfer (DBT) initiative in eight districts on a single day. The bank chairman K Lakshmana Rao informed that they have opened 75,320 accounts in Warangal district alone across 64 villages while about 1,37,442 no-frills accounts were opened in Srikakulam, Sangareddy, Khammam, Mahbubnagar, Nalgonda, Visakhapatnam, Vizianagaram and Warangal.

The Bank has launched this massive campaign of opening no-frills-accounts as part of DBT programme under the guidance of Reserve Bank of India (RBI) and State Level Bankers Committee (SLBC), State Bank of India and National Bank for Agriculture and Rural Development (NABARD). The APGVB targets to open 10 Lakh accounts in the next three months, he revealed. These accounts, opened with zero balance and seeded with Aadhaar Cards would be uploaded on National Payments Corporation of India (NPCI) Mapper along with other banks to join Aadhaar Payment Bridge.