The regional rural bank, Andhra Pradesh Grameena Vikas Bank (APGVB) has opened 50 new branches in different parts of Hyderabad.
"As per the directions of Reserve Bank of India, new branches are opened mostly in rural areas to serve the rural population," said Mr. K. Lakshmana Rao, Chairman of APGVB.
Out of the new branches added, 34 branches are in rural centres, 15 branches are in semi-urban areas while remaining one is an urban branch. All the new branches of APGVB are integrated with core banking solution through V-sat installation.
The regional rural bank, which is sponsored by State Bank of India had earlier opened 14 branches which took the total number of branches opened during the Financial Year 2012-13 to 64. APBVB now has638 branches in eight districts.