Through its business correspondents (BCs), under the branchless banking model, the Andhra Pradesh Grameena Vikas bank (APGVB) hasopened 27 lakh basic savings bank deposit accounts till now.
To achieve financial inclusion, the bank has been offering a basket of products such as savings bank, recurring deposits, remittance, micro-insurance to customers in villages.
The bank said that all these accounts were opened in the core banking system and commence online transactions on real-time basis.
In a statement the bank said that it is also in the process of identifying officers for weekly visits with laptop connected to core banking to provide additional services at the ultra small branches. The bank opened 424 such small branches in villages which have over 2,000 population.
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