State Bank Of India

State Bank of India’s (SBI) - sponsored regional rural bank - Andhra Pradesh Grameena Vikas Bank (APGVB) has opened 125 ultra-small branches (USBs) across the Andhra Pradesh state. With this, the total number of USBs of APGVB now stands at 230. The bank has proposed to open another 170 USBs to take the total tally to 400 by March 2013.

In an effort to implement the financial inclusion plan the USBs have been opened in villages having a population of 2,000 and above by providing doorstep banking services to customers through business correspondents.

Also, in keeping with the Reserve Bank of India’s guidelines, these branches are likely to be converted into full-pledged branches on attaining a sizable business volume.