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Andhra Bank to set up more branches by the end of March

Rajahmundry (AP): Andhra Bank Chairman and Managing Director C V R Rajendran said here yesterday that the bank plans to do business worth Rs 2.50 crore by the end of March.Speaking to reporters after inaugurating
PTI January 18, 2014 6:43 IST
PTI
Rajahmundry (AP): Andhra Bank Chairman and Managing Director C V R Rajendran said here yesterday that the bank plans to do business worth Rs 2.50 crore by the end of March.

Speaking to reporters after inaugurating Andhra Bank's new premises at Kakinada, he said that 212 branches would be added by the end of March and 880 ATMs set up.

A special scheme would be launched to encourage small and medium enterprises and small businessmen soon, to provide loans to them, he said.

He said to reduce time taken by bank transactions, 110 ‘Navshakthi' branches would be set up in the financial year, while another 150 branches would be added by the end of March.

A ‘smart deposit scheme' would also be introduced to provide 7.8 per cent interest to those who deposit Rs 1 crore for a period of 179 days, he said.