APGVB launches RuPay debit, credit cards
By Ankit Sharma
May 2, 2013
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The regional rural bank, Andhra Pradesh Grameena Vikas Bank (APGVB) has introduced ATM-cum-debit cards and kisan credit cards on the RuPay platform.

"With this initiative, our small depositors and farmer-borrowers will have access to draw their money from any ATM owned by State Bank Group, ICICI, HDFC Bank and AXIS Bank," Mr. K. Lakshmana Rao, Chairman of APGVB said in a press release.

The regional rural bank, sponsored by State Bank of India, was only second in its category to launch this particular service, Mr. Rao added.

The Rupay platform is powered by National Payments Corporation of India as a rival to global payment product companies such as MasterCard and Visa.

During the last financial year ended March 31, 2013, APGVB's business crossed Rs 12,000-core mark with a net profit of Rs 164 crore.


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