BankBazaar : Personal loan lender Andhra Bank launches its financial inclusion plan in full swing
For some reason or the other, may be due its name, Andhra Bank was always considered as a regional bank although it was nationalised in the year 1980 (2nd nationalisation by GOI). Initially, it was headquartered in Masulipatnam in Krishna Dist of Andhra Pradesh. During late sixties, the management shifted this bank to the State Capital of Hyderabad against stiff objections from its staff and customers. It was the duo of Shri Kalluri Gopala Rao (Chairman) and Shri M V Subba Rao (General Manager) - there was no concept of CMD or EDs in sixties and seventies in the banking system - that the bank was taken to greater heights year after year.
Even after becoming a public bank, some how it was treated as a regional bank (same is the case with others like Vijaya, Syndicate, et al in the public sector or Vysya or Karnataka in private sector). It was one of the earliest to have introduced Credit Cards in association with VISA in India. The bank has grown big at national level but has never thought of becoming a global player. It is interesting to read this news item that Andhra Bank is referred as a Personal Loan lender now.
Financial Inclusion is the primary responsibility of GOI, RBI and PSBs in India. And then, private and foreign banks would follow.
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