APGVB - Andhra Pradesh gramin vikas bank, was established with the help of State Bank of India. This bank was established with the aim of serving the people in the rural areas. It provides credit for the farmers and small cottage industries in the rural Andhra Pradesh.
BANKING SERVICES: Well this Bank provides all the facilities that are provided by any bank in this country. It offers gold loan, house loan and educational loan. It also offers locker facility but it is not available in all the branches, it is available only in some of the branches in urban areas. The interest rates given on the deposits are not that great as compared to other banks. But the interest rate on the loans are same as other banks. It imposes 8% interest rate on house loan upto 800000 rupees and 15% interest rate on house loan up to 15 lacs. It also provides some schemes like Vikas 18, Vikas 51 and Dhan Vikas deposit schemes. The provisions under these schemes are not that attracting but it provides a decent interest on the Amount deposited under these schemes. Zero accounts work provided to the new customers as per Pradhan Mantri Jan Dhan Yojana. The bank branches are not available in each and every City they are limited to some important cities and a few rural areas only. There is a serious lack of support from the government also, the government can integrate this Bank in providing so many schemes to the people in order to achieve the goal of financial inclusion.
STAFF: The staff are well qualified in urban areas where as they are not that qualified and skilled in rural areas. The number of employees in each branch are not adequate, but in some branches they are present as per the number of customers available. Mostly the staff are not responding as per the needs of the customers. The staff lack seriousness and passion for the work.
INFRASTRUCTURE: Well the infrastructure in the bank is not adequate and mostly it is of poor quality. Most of the bank branches are in such buildings which are not more than a common house. There are no suficiente lockers available and even if they are available that too in a few branches. Proper infrastructure is not provided in such a way that it could help the handicapped people have access to the bank. This Bank doesn’t have its own ATMs in every City or rural area. This Bank provides debit cards and they are rupay debit cards which can be used in SBI ATMs.
NET BANKING SERVICES: This Bank does not provide proper banking internet services and we cannot expect transactions of this Bank through internet. Even if it provides some internet banking services they have so many technical problems and it is not that easy to do transactions through internet banking. The website interface is also not user friendly.
CUSTOMER SERVICE: To be frank this Bank doesn’t possess supporting staff to provide proper Customer services. Even if it provides some Customer services they are not good in quality and they does not help the customers in any way. To some extent the bank is successful in providing basic information to the customers regarding the banking services and different loans and schemes. Overall, this Bank is limited to some areas only especially this Bank doesn’t have any branches in most of the cities and rural areas. It has to develop a lot in terms of infrastructure and customer service. If the government provides proper institutional support then the services of this Bank can be expanded. If you are in a rural area then having a bank account in this Bank is good but if you are a citizen living in urban areas then this Bank may not be helpful for you at all.