APGVB Full Form: Definition, History, and Benefits Explained I India CSR

APGVB: Empowering Rural India

The full form of APGVB is Andhra Pradesh Grameena Vikas Bank. In the landscape of Indian banking, a name stands out for its significant contribution to rural development: the Andhra Pradesh Grameena Vikas Bank (APGVB). Established under the Regional Rural Banks Act of 1976, APGVB has been a cornerstone in the upliftment of rural and non-agricultural sectors.

The Genesis of APGVB

The journey of APGVB began on March 31, 2006, with the amalgamation of five banks sponsored by the State Bank of India (SBI). This strategic move was aimed at enhancing the focus on the urban poor and rural crafts, thereby fostering growth in these crucial sectors.

APGVB Today: A Rural Banking Powerhouse

With its headquarters in Warangal, APGVB operates across 21 districts of Telangana and 3 districts of Andhra Pradesh. It boasts a robust network of 775 branches and 1526 Bank Mitra points, making it one of the leading banks serving rural areas.

Services and Offerings

APGVB is not just a bank; it’s a lifeline for its customers. It offers a wide range of services including mobile banking, internet banking, insurance, and various deposit products. The bank also provides loans tailored to agricultural needs, reflecting its commitment to the sector’s growth.

Technological Integration

In an era where technology is king, APGVB has not been left behind. It has embraced core banking facilities, mobile banking, and Aadhar-based transactions, ensuring that its customers enjoy the convenience of modern banking services.

The Impact of APGVB

The bank’s efforts have not gone unnoticed. Its initiatives have significantly contributed to the economic development of rural India, providing financial solutions that cater to the unique needs of its clientele.

A Future-Ready Institution

As APGVB looks to the future, it aims to continue being the preferred bank for rural growth and transformation. With a focus on sustainable technological and financial solutions, APGVB is poised to play a pivotal role in shaping the future of rural banking in India².

In conclusion, APGVB’s story is one of resilience, innovation, and unwavering commitment to its customers. It stands as a testament to the power of targeted financial services in driving socio-economic change in rural areas.

Key points about APGVB

Full form of APGVB	Andhra Pradesh Grameena Vikas Bank
Established on	31 March 2006
Industry	Regional Rural Bank
Headquarters	India, Warrangal
Number of locations	771
Main people	Shri. K. Praveen Kumar (Chairman)
Products	Small Business & Services, Education and Banking Services like Mobile Banking, Internet Banking, Insurance, NEFT, RTGS, IMPS, Safe Deposit Lockers, ATM services. Deposit products with attractive interest rates, Loans to Agricultural.