10 RUPEE COIN IS A LEGAL TENDER – Sri Eugene E. Karthak,
ANDHRA BANK INAUGURATES RENOVATED CONTONMENT BRANCH IN BENGALURU
Bengaluru. Sri Eugene E. Karthak, Regional Director, RBI, Bengaluru inaugurated Coin Exchange Mela at 15 Branches along with Remote opening of Three ATM’s at Agara, Bellendur, and Jayanagarn 5th Block, guaranteed 10 Rupee coin is a Legal Tender across India, no problem in circulation of 10 Rupee Coin, GST Ready data’s in Andhra Bank by inaugurating renovated Cantonment Branch, No.21, Ulsoor Road, Bengaluru.
Andhra Bank gave immense pleasure to share the details that Andhra Bank crossed yet another milestone during financial year 2016-17 with its total Business surpassing the Rs.3.39 Lakh Crore mark.
The performance highlights of Andhra Bank for the Financial Year 2016-17 are as follows: Total Business increased to `3,39,673 Crore as on 31.03.2017, from `3,10,673 Crore as on 31.03.2016 registering a growth rate of 9.3%. Total Deposits increased to `1,95,441 Crore from `1,74,302 Crore in the previous year, registering a growth rate of 12.1%. CASA Deposits increased to `57315 Crore from Rs. 45465 Crore, registering a growth rate of 26%. Cost of Deposits stood at 6.43%.
Gross Bank Credit increased to `144232 Crore from `136371 Crore, registering a growth rate of 5.76%. Credit Deposit Ratio stood at 73.8% compared to 78.3% during the previous year. Yield on advances stood at 9.77%
Net Interest Margin stood at 3.07%. Non-Interest Income stood at `2308 Crore. Net Profit for 2016-17 stood at `174 Crore. Gross NPAs to Gross Advances Ratio stood at 12.25%. Net NPAs to Net Advances Ratio stood at 7.57%. Capital Adequacy Ratio stood at 12.38% under BASEL-III. Return on Average Assets stood at 0.08%.
Net Profit per Employee stood at `0.90 Lakh. Average Business per Employee stood at `16.61 Crore. Network Expansion: During 2016-17, Andhra Bank opened 105 Branches and added 293 ATMs/BNAs/CRs. As on 31.03.2017, Bank had 6875 Delivery Channels consisting of 2908 Branches, 4 Extension Counters, 34 Satellite Offices and 3929 ATMs/BNAs/CRs During FY 2016-17, Andhra Bank has taken the following I.T. initiatives to improve Customer Service: Private Cloud implementation: Bank has implemented private cloud at Banks Data Centre. Call Centre Outsourcing: Bank has outsourced Call Centre operation to M/s Tata Business Support Services Ltd. A unique registration number will be generated to each Form15G/H application submitted by the customer.
Data of income earned on deposits and from other sources, customer demographic details etc., will be captured during the process and uploaded to Income Tax department. Necessary customization is implemented in Internet Banking application for enabling IMPS facility which allows customers to remit funds to other bank beneficiaries instantly and 24*7.
In addition to the existing Payment Gateways, Bank has integrated payment gateways of service providers like Techprocess, Atom & Zaakpay for carrying out different types of bill payments online. Bank has introduced a new facility to domestic Indian Resident and NRI customers to enroll and enquire for ‘Atal Pension Yojana’ scheme through Internet Banking.
Online Self-sign up for internet banking facility is introduced. Customers can register for Internet Banking facility using debit card, PIN & OTP. Option for generation of PIN by customers themselves for Debit Cards in ATMs is introduced. Selfie account opening app wherein prospective customers can take a selfie and submit request for new account opening by scanning Aadhar QR code and taking a scan of PAN card.
The system will display the reference number and instruction to visit opted Branch with original AADHAAR and PAN card for account opening. Bank has launched UPI App that enables linking of multiple bank accounts into a single mobile App. The App has option to send money using Account No., IFSC, Mobile and Aadhaar.
It has the option for requesting money from anyone using the Virtual Payment Address. Customer can lodge transaction related grievances / complaints directly from the App itself. Seeding of mobile number to Customer Master through Micro ATMs and Kiosk Outlets was enabled. After successful validations of all parameters mobile number will be updated in Customer Master.
AB Subh Yatra – Holiday Saving Plan: Necessary customisation was built in Internet Banking for enabling AB Subh Yatra holiday saving plan. This holiday saving plan is provided in association with M/s Thomas Cook India Limited to enable our customers to avail their Holiday Packages. AB eVyapar – Merchant Payment App:
AB eVyapar App is developed for Aadhaar enabled payments to merchant by customers. This App is now available in Android platform. The merchant can select the bank, enter customer’s Aadhaar number (or Scan Aadhaar QR code) and the amount in the App and thereafter ask the customer to place the finger on biometric device and the transaction will be authorized.
An App has been developed to accept the request for Aadhaar Seeding through SMS mode. After validating the SMS received an entry will be made in AADHAAR seeding table in entry status for seeding of the Aadhaar to the account and a confirmation SMS will be sent to the customer with status of the request. Financial Inclusion : Bank has successfully implemented PMJDY and as on 31.03.2017, 24.23 lakh accounts have been opened as against 21.78 lakhs during previous year.
Total deposits of Rs. 326.33 Crore have been mobilized vis-à-vis `212.91 crores during 2015-’16 with an average balance of `1346.57 as against `977.51 the previous year. Your Bank is the pioneer in introducing OD facility through ATMs and Micro ATMs in PMJDY Accounts. APY – Bank has enrolled about 1.39 Lakh accounts under APY in FY 2016-17. Bank was adjudged by PFRDA as the best performing bank among PSBs during the FY 2016 – ’17. PMSBY – 67.50 lakh accounts have been enrolled under PMSBY. PMJJBY- 7.12 lakh accounts have been enrolled under PMJBY and settled 2816 claims. Bank has appointed 1777 Bank Mitras covering all allotted Sub Service Areas.
Andhra Bank has received the following awards in the FY 2016-17: Two prestigious awards from IDRBT in July 2016:- 1. Best Bank for Managing IT Eco System among mid-size banks and 2. Best Bank for Digital Banking among mid-size banks. National Payment Excellence Award 2016 (Runner up) by NPCI’ for excellent performance under Rupay Card in midsize category Andhra Bank has received the following awards in the FY 2016-17: Two prestigious awards from IDRBT in July 2016:- National Payment Excellence Award 2016 (Runner up) by NPCI’ for excellent performance under Rupay Card in midsize category Banking Technology Awards from IBA under midsize bank in 1. Best Financial inclusion initiatives -Winner and 2. Best IT Risk and Cyber Security Initiatives category – Runner UP Andhra Bank is committed towards delivering best services to customers by leveraging on technology and dedicated human resources, and would Banking Technology Awards from IBA under midsize bank in 1. Best Financial inclusion initiatives -Winner and 2. Best IT Risk and Cyber Security Initiatives category – Runner UP Your Bank is committed towards delivering best services to customers by leveraging on technology and dedicated human resources, and would work together towards delivering excellent customer service by leveraging on technology and human resources to attain world class performance standards. And would become a significant player, providing full range of banking services through innovative customer centric products and to maximize stake holders’ value.