As many as 493 APGVB branches in Telangana to merge into TGB from Jan 1

At present, APGVB operates a total of 771 branches in Andhra Pradesh and Telangana — 493 in Telangana and 278 in Andhra Pradesh. These 278 branches will continue to operate in Andhra Pradesh as APGVB

Hyderabad: The branches of Andhra Pradesh Grameena Vikas Bank (APGVB) in Telangana will be merged with Telangana Grameena Bank(TGB) with effect from January 1.

As many as 493 branches of APGVB, located in Telangana, will be merged with TGB as part of the process. The decision to merge APGVB branches with Hyderabad-based Telangana Grameena Bank was taken by the union Finance Ministry in November this year.

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At present, APGVB operates a total of 771 branches in Andhra Pradesh and Telangana — 493 in Telangana and 278 in Andhra Pradesh. These 278 branches will continue to operate in Andhra Pradesh as APGVB.

In a statement issued here, Telangana Grameena Bank chairman Y Sobha said at present, the TGB was catering to the needs of the customers of five erstwhile districts — Adilabad, Karimnagar, Nizamabad, Rangareddy and Hyderabad and post-merger, all the 33 districts of Telangana would come into the TGB fold.

“TGB has at present a turnover of Rs 30,000 crore with 435 branches working in 18 districts. Post-merger, the TGB will have a network of 928 branches with a turnover of around Rs 70,000 crore,”she said.

To ensure smooth merger of the branches and systems, banking services across branches online platforms, including ATM, Mobile Banking, Internet Banking and Customer Service points would not be available from December 28 to January 1, she said, adding that the TGB would resume all operations from January 1.

For emergency requirements, TGB was providing a facility to withdraw an amount of Rs. 5,000 by visiting the home branch on December 30-31, she said, adding that the Non-home transactions would not be allowed during this period.

The customers of APGVB branches in Telangana should visit their respective branches on or after January 1 for replacement of ATM cards and re-registration of mobile banking, Internet banking and UPI services, she added.

The cheques, demand drafts of APGVB issued upto December 31 would be accepted for payment or clearing upto March 31. For clarifications, customers can log on to www.tgbhyd.in or contact the nearest branch.