ఆంధ్రా బ్యాంక్ ఇక అదృశ్యం, తెలుగు వారి చారిత్రక అనుబంధానికి బ్రేక్ ||Andhra Bank fades into history|
Andhra Bank, a premier public sector bank with deep roots in the erstwhile undivided Andhra Pradesh, is all set to vanish from public view from April 1, in a move that draws the curtains on a significant chapter of regional history.
The bank was founded by Bhogaraju Pattabhi Sitaramayya, a veteran freedom fighter and close follower of Mahatma Gandhi on November 23, 1923. Its beginnings were modest, with a single branch, and later grew by leaps and bounds over the past nine decades.
The state-run lender has now been merged with the Union Bank of India and the Corporation Bank in line with finance minister Nirmala Sitaraman’s decision to merge ten public sector banks (PSBs) into four big-ticket banks. The move, Sitharaman has asserted, aims to bring down the volume of non-performing assets and build a strong banking system, while making banking cost-effective.
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ఆంధ్రా బ్యాంక్ ఇక అదృశ్యం, తెలుగు వారి చారిత్రక అనుబంధానికి బ్రేక్ ||Andhra Bank fades into history| Andhra Bank, a premier public sector bank with deep roots in the erstwhile undivided Andhra Pradesh, is all set to vanish from public view from April 1, in a move that draws the curtains on a significant chapter of regional history. The bank was founded by Bhogaraju Pattabhi Sitaramayya, a veteran freedom fighter and close follower of Mahatma Gandhi on November 23, 1923. Its beginnings were modest, with a single branch, and later grew by leaps and bounds over the past nine decades. The state-run lender has now been merged with the Union Bank of India and the Corporation Bank in line with finance minister Nirmala Sitaraman’s decision to merge ten public sector banks (PSBs) into four big-ticket banks. The move, Sitharaman has asserted, aims to bring down the volume of non-performing assets and build a strong banking system, while making banking cost-effective.