Andhra Bank is planning to set up exclusive locker centres across the state.
Speaking to mediapersons here, CVR Rajendran, its chairman and managing director, said currently lockers were available at only bank branches, and due to heavy demand and lack of space they were not able to provide lockers to every customer.
"In view of this, we are planning to set up exclusive locker centres, which will not only enable the bank to satisfy its customers but also earn additional revenues for it," he said.
"Our gross NPA has increased from 3 per cent to 5 per cent owing to nonpayment of installments by power and infrastructure companies. Besides, during the last nine months our business levels have remained stagnant," he added.
The bank, he said, was initiating several measures to increase the business, and as a part of this it was aiming to mobilise Rs 10,000 crore new deposits over the next two-and-a-half months.
Speaking to mediapersons here, CVR Rajendran, its chairman and managing director, said currently lockers were available at only bank branches, and due to heavy demand and lack of space they were not able to provide lockers to every customer.
"In view of this, we are planning to set up exclusive locker centres, which will not only enable the bank to satisfy its customers but also earn additional revenues for it," he said.
Also Read
Andhra Bank was facing high NPAs due to the slowdown in power and infrastructure sectors. Of its total loan exposure, 11 per cent was to the power sector and 7-8 per cent to the infrastructure sector.
"Our gross NPA has increased from 3 per cent to 5 per cent owing to nonpayment of installments by power and infrastructure companies. Besides, during the last nine months our business levels have remained stagnant," he added.
The bank, he said, was initiating several measures to increase the business, and as a part of this it was aiming to mobilise Rs 10,000 crore new deposits over the next two-and-a-half months.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%