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Andhra Bank is a pioneer in introducing Credit Cards in the country in 1981 . The Bank introduced Internet Banking Facility (AB INFI-net) to all customers of cluster linked branches. Rail Ticket Booking Facility is made available to all debit card holders through IRCTC Website through a separate gateway. Corporate Website is available in English, Hindi and Telugu Languages communicating Bank's image and information. Bank has been given 'BEST BANK AWARD' a banking technology award by IDRBT, Hyderabad for extensive use of IT in Semi Urban and Rural Areas on 02.09.2006. IBA Jointly with TFCI has conferred the Joint Runner-up Award to the Bank in the Bet Payments initiative in recognition of outstanding achievement of the Bank in promoting ATM Channel. Bank successfully conducted " Bancon 2006", a two day event at Hyderabad, deliberating on Inclusive Growth - A New Challenge. Kiddy Bank Scheme, with insurance benefits, was relaunched to inculcate savings habit among the children. Bank has mobilized nearly 90000 new accounts during 2007-08. As a part of "Financial Inclusion", Bank adopted two districts, namely, Srikakulam in Andhra Pradesh and Ganjam in Orissa and achieved 100% coverage. Bank has introduced Smart Card Scheme Pilot project in Warangal District and the same will be extended to other Lead Districts in due course. Bank has opened 2.11 lakh accounts under "No-frill accounts" category till 30.06.2008. Andhra Bank, along with A P State Government, NABARD, Canara Bank, Indian Bank, IOB and SBH sponsored the Andhra Pradesh Banker's Institute of Entrepreneurship Development, which will offer training to unemployed youth for improving their skills in Andhra Pradesh. Bank adopted Gundugolanu village, West Godavari District, Andhra Pradesh - birth place of Dr.Bhogaraju Pattabhi Sitaramayya for all-round development. A comprehensive budget with an outlay of Rs.5.50 Crore is finalized for improving health, sanitation, education and social service facilities in the village. Bank has been ranked No.1 in terms of number of Life Insurance Policies mobilized amongst all the Agency Banks dealing with "Life Insurance Corporation of India". Bank also has tie-up with United India Insurance Company Limited under Bancassurance(Non-Life). Bank was ranked 532nd for the year ended 31.03.2007 amongst Top 1000 Banks in the world by "The Banker" - a London based publication based on Tier I Capital as defined by Basel's Bank for International Settlements (BIS). Bank entered MoU with Bank of Baroda and Legal & General Group of UK to form a joint venture life insurance company IndiaFirst Life Insurance Company. The shareholders' agreement has already been signed and necessary formalities are being completed for setting up of the company. The JV Company is already incorporated in June'08 and is in the process of filing for approvals from IRDA etc. IndiaFirst has commenced operations. Thus Bank accords utmost concern to customer satisfaction by offering innovative and need based financial products and services using state-of-the art technology. PRODUCT AND SERVICES Deposit Schemes AB Savings Accounts AB Current Accounts AB Term Deposits AB Arogyadaan Scheme AB Bancassurance Life AB Bancassurance (Non Life) Retail Loans Agricultural Loans Corporate Banking NRI Banking NRI Products and Services NOSTOR details for remittance Western Union Money Transfer Technology Products Multi City Cheque Facility On-Line Tax Accounting System (OLTAS) Real Time Gross Settlement (RTGS) Instant Funds Transfer ATM Services Any Branch Banking Electronic Clearing Service (ECS) National Electronic Funds Transfer |
