Reported by: banking|Updated: July 23, 2019
Telangana State Cooperative Apex Bank, which came into being following the bifurcation of the state and the Andhra Pradesh State Cooperative Bank, is now rendering banking and ancillary services in the state through its 42 business outlets. All these branches serve the cosmopolitan twin cities of Hyderabad and Secunderabad. The bank also serves 347 branches under district central cooperative banks and 799 Primary Agricultural Credit Societies. The bank’s MD, Dr Nethi Muralidhar, says that as a part of the branch expansion, the bank added 4 branches recently, at Saroornagar, Meerpet, Badangpet and Mansurabad.
He tells Banking Frontiers that to drive the digital transactions, the bank as 42 ATMs, of which 36 are onsite ATMs at branches, 5 are offsite ATMs in metro stations in a bid to provide banking facilities to the regular commuters of Hyderabad Metro. Also, one mobile ATM has been introduced during the period of demonetization. At present, the bank has a customer base of 500,000 and it aims to raise this to 6000,000 in the next 3 years. Muralidhar says the bank offers various products on par with commercial banks. Among the DCCBs, financial literacy centers have been constituted in collaboration with the NABARD in a bid to bring in the untapped potential customers under the banking fold and to educate them about the benefits of having a financial relationship with the banks and usage of e-channels.