APCOB Full Form

APCOB Full Form

Edited By Team Careers360 | Updated on Jan 05, 2023 05:52 PM IST

What is Full Form of APCOB ?

The Andhra Pradesh State Cooperative Bank Limited (APCOB), Vijayawada, is the state of Andhra Pradesh's Scheduled State Cooperative Bank. Following the restructuring of the State of Andhra Pradesh, TSCAB and the remaining Andhra Pradesh State Cooperative Bank Limited have replaced the Andhra Pradesh State Cooperative Bank.

APCOB Full Form

Through cooperatives, the Bank is devoted to supporting rural and agricultural development. The District Cooperative Central Banks (DCCBs), which are a family of 13 affiliated District Cooperative Central Banks, has 386 branches and 1959 Primary Agricultural Cooperative Societies (PACS), through which developmental agricultural credit is provided, to serve a sizable portion of the total membership of the PACS, which is estimated to be around 1 crore. The cooperative credit system in Andhra Pradesh, with the APCOB at its apex level, is a federal system.

Services

On the Core Banking Solution (CBS) platform, the Bank has been operating since 2002.
The Bank offers a variety of financial services, including accepting different forms of deposits, issuing all types of retail loans, and offering all remittance services (RTGS/NEFT/IMPS)/UPI, Direct Benefit Transfer(DBT) service, Mobile Banking Services, etc.
The retail loan products include Gold Loans, Personal Loans, Vehicle Loans (both 2-wheeler and automobile), Education Loans, Housing Loans, Real Estate Mortgage Loans, SOD against Mortgage of Property, SHG Loans, SME Loans, etc.
With the help of 16 onsite ATMs and 2 mobile ATMs, the Bank offers its clients round-the-clock services. The bank at the CRDA has been offering mobile ATM services.
Providing refinance for both ST and LT loans for a range of uses, including ST-SAO agricultural loans, ST-Others, LT loans for investment in agriculture and related industries, loans for weavers, SHG/RMG/JLGs, PACS-MSC, gold loans, etc.
Giving institutional credit to organisations like APCO, Stree Nidhi, cooperative sugar factories, employees cooperative credit societies, etc.

Frequently Asked Question (FAQs)

1. How many branches are there in APCOB?

In, total there are 16 branches all over Andhra Pradesh.

2. What are the functions of APCOB?

The APCOB advise, assist, and support the DCCBs and PACS in enhancing their managerial skills, operational effectiveness, technology adoption and upgradation, systems and procedures, training, offering incentives, and engaging in and promoting any such activity that may be advantageous to the overall expansion of Cooperative Credit Structure in the State.

3. What is the vision of APCOB?

The major goal of APCOB is to become the best cooperative enterprise in the state by adhering to ethical business practises and cooperative ideals to support member cooperative credit institutions' equitable and sustainable growth and promote rural prosperity.

4. What is the mission statement of APCOB?

APCOB is dedicated to promoting just and sustainable rural development and agriculture by providing high-calibre banking services and cutting-edge financial technologies.

5. Is APCOB a government bank?

APCOB is the apex bank in Andhra Pradesh and was founded in 1963. It is a bank with the government’s support and is dedicated to promoting rural and agricultural development through cooperatives.

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