Saptagiri Grameena Bank has been formed with the merger of Sri
Venkateswara Grameena Bank, Chittoor, Chittoor district and
Kanakadurga Grameena Bank, Gudivada, Krishna District w.e.f from
01 07 2006 with Head office at Chittoor, Chittoor District, Andhra
Pradesh, in terms of Government of India GO dt 29 06 2006.
Bank’s Operational area is spread over across Chittoor and
Krishna district in the state of Andhra Pradesh.
Branch Net Work:
The Bank is a having 154 branches ( 100 branches in Chittoor district
and 54 branches in Krishna district) and 1 Satellite Office.Of
the 154 branches, 106 branches are in Rural, 36 are in semi-urban
and 12 branches are in Urban areas.
** Urban-Rural classification based on 2001 census
In terms of section 5 of RRB Act 1976, the authorized capital of
Bank is Rs.500 lakhs divided into 5 lakhs fully paid shares
of Rs.100/- each. The paid up capital of the Bank as on 31 03 2008
is Rs.200 lakhs, contributed by Govt of India, Sponsor Bank and Govt
of A.P. in the ratio of 50%, 35% and 15% respectively.