Hyderabad: The Telangana Grameena Bank (TGB) chairman, Y Shobha, announced that all 493 branches of the Andhra Pradesh Grameena Vikas Bank (APGVB) located in Telangana will merge into TGB starting January 1, 2025.
This decision is part of a broader initiative by the central government to streamline rural banking services across states, promoting the concept of “one state, one rural bank”.
In her statement to the media on Thursday, December 26, Shobha emphasized that employees from the APGVB branches will continue their roles within the merged entity.
The merger is expected to enhance operational efficiency, allowing TGB to handle a total business volume of approximately Rs 70,000 crores across its 928 branches.
However, during the transition period from December 28 to 31, banking services at APGVB branches will be temporarily suspended.
This includes disruptions to online services, ATMs, and other banking operations. Customers will be permitted to withdraw up to Rs 5,000 in cash during emergencies on December 30 and 31.
Following the merger, all banking documents such as passbooks and chequebooks will be issued under the name of Telangana Grameena Bank.
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