Co-operative Bank to Split in T-state and AP

Untitled-3The Andhra Pradesh State Co-operative Bank is all set for dispersion between AP and Telangana as the Board of the bank has finally made the decision to divide. The Telangana State Co-operative Bank is set to pay Rs. 50 Crore to the Andhra Pradesh State Co-operative Bank for setting up main office and other branches in the state. The re-organisation of the co-operative bank has been planned by the NABARD.

The divided banks would resume working independently from early next year.

As of now, AP has two branches while 35 branches located in Hyderabad have been passed to Telangana.

Medaram Jathara

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