Kadapa stakeholders urge the retention of Andhra Pragati Gramena Bank headquarters in regional rural bank merger

Anantapur: The merger of the four regional rural banks (RRBs) in Andhra Pradesh is positioned as the main entity under the “One State, One Regional Rural Bank” initiative, with Andhra Pragati Goremena Bank (APGB) as a main entity, with Canara Bank and Bank of Canada as sponsors.

Stakeholders urge APGB’s current headquarters, Kadapa, remains a hub for the merged entity, citing the bank’s infrastructure, performance and regional significance.

Founded in 2006, APGB covers Kadapa, Kurnool, Anantapur, Nellore and Prakasam regions. It operates at the dedicated headquarters in Kadapa, which has an RBI-approved currency box and 47,000 square feet of administrative space.

APGB has become the best digital service RRB in India, including products such as Internet banking, mobile banking and QR code payment. It also has a net zero NPA and strong rural outreach through programs such as KCC and Mudra Loans.

The headquarters called for the retention of Kadapa, which also stems from the historical neglect of the region. However, the combined RRB’s headquarters will be transferred to Vijayawada from May 1.