Andhra Bank branch opened at Secretariat

By Our Special Correspondent

HYDERABAD, NOV.24.The Chief Minister, Mr. N. Chandrababu Naidu, has called upon Andhra Bank, which is the convener of the State- level Bankers Committee (SLBC), to take lead in promoting e- banking and trigger radical changes in the banking sector.

Inaugurating the Bank's 1,020th branch at the Secretariat here on Friday, he said information technology and Internet were going to transform banking sector. None would like to stash one's money at home. Thus more transaction at the bank level would mean less of black money in circulation. Banking was not all about taking or giving money. They should help the customers develop their skills.

Mr. Chandrababu Naidu paid tributes to Andhra Bank for its contribution to the development of the State, moreso to its funding of women's self-help groups. Bhogaraju Pattabhi Seetaramaiah, nationalist and contemporary of Gandhi, had set up

Andhra Bank in Machilipatnam 77 years ago with a small collection of Rs 25. It grew by leaps and bounds over the years. 'Andhra Bank is the best example of vision'.

Mr. B. Vasanthan, Chairman-Managing Director of Andhra Bank, traced the origin and growth of the Bank over the years and its phenomenal spread. This, the 786th branch in the State, was being set up on the 120th birth anniversary of its founder, Seetaramaiah. It would set up two rural development institutes at Srikakulam and Machilipatnam. The Bank financed 12,200 self-help groups in the State.

Messrs T. Devender Goud, Minister for Home, P. Ashok Gajapati Raju, Minister for Revenue, T. Seetaram, Minister for Small Industries, were also present.

The Secretariat branch has all modern facilities including any branch (21 branches in City to begin with) banking, lobby banking where customers can access general information or accounts details using a touch screen monitor located in the lobby and a corporate terminal to facilitate corporate clients to access their accounts from their own premises itself.

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Section  : Southern States
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