APGVB (Andhra Pradesh Gramin Vikas Bank) introduced desktop ATMs in rural India.
- It has operationalized its first desktop ATM at Kasibugga in Mandi Bazar of Warangal in Telangana.
- It is a pilot exercise at present but the bank plans to install 100 more ATMs in different busy branches. It can be installed in the lobby or any business establishments.
- This mini ATM within the branch will help in facilitating the customers to withdraw small amounts and in the meantime regular bank account holders can withdraw their money or do other banking activities.
- The APGVB Chairman, Mr. Narasi Reddy said that with these ATMs, there is no need for separate ATM rooms, so there is no security issue.
- These ATMs are designed to work in harsh climatic conditions and minimum power requirements.
- They can dispense small denominations and can cater to small cash needs of the rural customers.
Regional Rural Banks (RRB)
Regional Rural Banks are the local level banks operating in various states throughout India. Regional Rural Banks came into existence on 2nd October 1975 with the formation of Prathama Grameen Bank. The RRBs are owned by three entities with respective shares as- Central Government has 50% share, State Government has 15% share and the Sponsor Bank has 35% share. The RRBS were conceived as low cost institutions to lend to the weaker sections of the society. RRBs are regulated by NABARD (National Bank for Agriculture and Rural Development).Expected Questions
Which rural bank has introduced desktop ATMs in Andhra Pradesh?
a. Vananchal Gramin Bank
b. Prathama Bank
c. Kaveri Grameena Bank
d. Andhra Pradesh Gramin Vikas Bank
IN which year did Regional Rural Banks come into existence with the formation of Prathama Grameen?
a. 1955
b. 1975
c. 1965
d. 1985
