Andhra Bank has launched Mudra Card under the Pradhan Mantri MUDRA Yojana (PMMY) Scheme. Mudra Card is a debit card on the Rupay payment platform and will help the borrower to have flexible access to their working capital limits of Rs 10 lakh. It can be used to draw cash from any ATM or make purchase using point of sale machine.
The bank reported 89.27% rise in its net profit at Rs 202.52 crore for the quarter as compared to Rs 107.00 crore for the same quarter in the previous year. Total income of the bank increased by 7.71% at Rs 4529.23 crore for quarter under review as compared to Rs 4205.06 crore for the quarter ended June 30, 2014.
