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APGVB Full Form

APGVB Full Form

Edited By Team Careers360 | Updated on Mar 13, 2023 04:36 PM IST

What is the full form of APGVB?

APGVB is also known as Andhra Pradesh Grameena Vikas Bank. APGVB is an Indian rural bank started on 31 March 2006 under the Regional Rural Banks (RRB) Act of 1976 and the headquarter is in Warangal, India. The main idea is to connect all more effectively, with coordination, in the uplift and development of the rural and non-horticultural areas, with a focus on the metropolitan, the rural poor and rural crafts. APGVB operates in the 21 districts of Telangana as well as 3 districts of Andhra Pradesh. It is the leading bank serving rural areas with 775 Branches & 1526 Bank Mitra points in two states. Out of 775 branches, 500 branches are in rural areas.

The Regional Rural Banks are claimed by the Central Government, State Government and the Sponsor Bank who held shares as follows:

1. Central Government: 50%,

2. State Government: 15%

3. Sponsor Bank (SBI): 35%.

Andhra Pradesh Grameena Vikas Bank

The APGVB's objective is to emerge as rural India's preferred bank for growth and change. It is to serve as a financial hub, by bringing sustainable technological and financial solutions to the rural population. Its values lie in respect for systems and procedures, transparency, good governance, ethics, compassionate service, and teamwork. APGVB works in 21 Telangana districts and in three Andhra Pradesh districts. With 775 branches as well as 1,526 Bank Mitra points in 2 states, it has emerged as one of the leading banks serving rural areas.

Services Offered By APGVB

  • All the branches provide a Core Banking facility

  • Business hours start from 10.00 am to 4.00 pm

  • A locker facility is available.

  • DDCP (Demand Drafts and Cheques Purchase) facility is available

  • Collection of Outstation Cheques

  • Mobile banking

  • Insurance

  • Non-Resident Indian (NRI) banking services

  • Issue of Bank Guarantees

  • The facility of ATM Debit Card & Kisan Credit card is available

  • Mobile banking facility is available

  • The facility of POS machines

  • The facility of aadhar based & ATM cards based transactions at branches are available

APGVB also facilitates the following financial schemes:

  • Atal Pension Yojana (APY)

  • Pradhan Mantri Jan Dhan Yojana (PMJDY)

  • Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Customer's Rights

  • Personal information privacy as per the law.

  • To get straightforward explanations of the products and costs

  • Prompt answers to questions on various banking matters.

  • Nominate a beneficiary to her or his accounts.

  • Can lodge a complaint through the Branch Complaint Book.

  • The best banking service is offered.

Frequently Asked Question (FAQs)

1. Is APGVB a nationalized Bank?

No, APGVB is not a nationalized Bank.

2. Is APGVB part of SBI?

APGVB headquarters are at Warangal, Telangana and it is sponsored by the (SBI) State Bank of India and operates in 21 districts of Telangana and 3 districts of Andhra Pradesh (AP). Therefore, APGVB is not a nationalized bank

3. When was APGVB formed?

APGVB was founded in March 2006.

4. What is APGVB bank transfer?

From your APGVB account, you can transfer money online to anyone's account in India. It is a very simple and quick process which you can use for the fund transfer service whenever required. And that the maximum transfer limit per day is Rs.1,00,000 and 10 transactions per day.

5. How to find out the APGB balance?

In order to know the Andhra Pragathi Grameena Bank account balance, we can give a missed call to the toll-free number 09266921358. And to get the mini statement, we can give a missed call to another toll-free number.

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