Andhra Pragathi Grameena Bank

In India, Andhra Pragathi Grameena Bank is a rural regional bank. As per the Regional Rural Banks Act of 1976, it was established in 2006 as a Scheduled Commercial Bank to provide banking facilities in the regions of Rayalaseema and Coastal Andhra.

Andhra Pragathi Grameena Bank Company Profile

  • Name of Company: Andhra Pragathi Grameena Bank
  • Company Type: Public
  • Industry of this company: Banking Financial Services
  • Year Company was Founded: 1 June 2006
  • Founder of this company: Rakesh Kashyap (Chairman)
  • Headquarters: Kadapa, India
  • Main Leaders in this company: N/A
  • Subsidiaries: N/A

Three rural banks, namely Sri Anantha Grameena Bank, Pinakini Grameena Bank, and Rayalaseema Grameena Bank, were amalgamated into Andhra Pragathi Grameena Bank by Syndicate Bank(now Canara bank). In one of Andhra Pradesh state’s most backward areas, the bank caters to the rural people.

The Bank is headquartered in Kadapa and its area of service is currently expanded to five districts of the state of Andhra Pradesh. In 2010, Andhra Pradesh Chief Minister Konijeti Rosaiah awarded the bank with the “best bank” award.

With its headquarters at the 5 district headquarters, Kadiri of Anantapur district, and Nandyal of Kurnool district, the Bank has 8 regional offices. The Bank will provide its 552 branches with financial facilities as of 31.03.2019. The Bank primarily caters to the needs of the rural poor and to all other sectors as well. Through outreaching people in the countryside, the Bank has played a key role in the economic growth of its operating area. As of 31.03.2019, the Bank gained net profit of Rs.231.18 Crore and was first among all Syndicate Bank-funded RRBs and all RRBs in the Andhra Pradesh State with respect to net worth Rs.2209.77 Crore as at 31.03.2019.

All Customer Care details of Andhra Pragathi Grameena Bank

The Bank’s entire area of activity, which is mainly located in the Rayalaseema district, is marked by drought and backwardness. Around 75% of the area’s population lives in the countryside. The soils are mainly black and red, about 75 percent of the region is rain-fed and farmers depend on rain-fed crops and sources of irrigation, such as canals, tanks, bore wells, etc., paddy, cotton (hybrid), chilies, vegetables, horticultural crops such as banana, papaya, sweet orange, mango, etc., and the main crops grown under rainfed conditions are groundnut, jowar, Bengal gram, etc. The area is abundant in minerals such as barite, limestone, granite, black and colored slabs, slates, etc.

Krishna, Tungabhadra, Hundri, Pennar, Kundu, Papagni, Chitravathi, Sagileru, Pincha, Cheyyeru, Swarnamukhi, Paleru, Pillaperu, and Gundlakamma are the major rivers flowing through the Bank’s area of service.

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