The 46th branch of Visakhapatnam Cooperative Bank was opened at Danavaipeta, Rajamahendravaram at a function attended by a large number of dignitaries.
Chitturi Ravindra a leading cooperator praised the Bank as South India’s No-1 Bank and congratulated the Management and staff of the Bank for serving the people in the Cooperative sector.
Speaking on the occasion Sri Chalasani Raghavendra Rao, Chairman of the Bank said the Bank has received permission from the Reserve Bank of India to open five new branches along with the newly opened branch.
He said the Bank will reach the 50 branches mark by March 2018. Before closing his speech, he criticized the policies of the present government saying the policies pursued by the govt. were disastrous for the banking sector, with NPAs reaching the highest levels.