(On Deputation from Indian Bank)
(On Deputation from Indian Bank)
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, Annamayya, NTR, Eluru, Tirupati and Krishna districts in the state of Andhra Pradesh.
The Bank is having 243 branches (67 branches in Chittoor district, 51 branches in NTR district, 47 branches in Tirupati district, 35 in Krishna district, 31 branches in Annamayya district and 12 branches in Eluru district). Of the 243 branches, 164 branches are in Rural, 59 are in semi-urban and 20 branches are in Urban areas.
** Urban-Rural classification based on 2011 census
The Authorized Capital of Bank is Rs. 2,000 Cr divided into 200 Cr Shares of Rs. 10/- each. The Paid Up Capital of the Bank as on 31.03.2023 is Rs. 17.77 Cr. The contribution of share capital is from Government of India, Indian Bank and Government of Andhra Pradesh as follows: