Port Blair, May 04: The A & N State Coop. Bank renders banking services to the remotest corners of these islands with a span network of 29 Core Banking branches. The Bank has a deposit base of approximately Rs. 567 crores as on 31.03.2014 as against Rs. 501 Crores as on 31.03.2013, thus aggregating a growth rate of 13 % in deposits. The loans & advances as on 31.03.2014 stood at Rs. 347 crores as against Rs. 284 crores as on 31.03.2013, which makes the bank one of the leading financial institutions of these Islands. The total business of the bank is around Rs. 915 Crores. The CASA (Current Account Savings Account) % is around 56 % as on 31.03.2014. The Bank currently offers the Highest Interest Rates for term deposits (Fixed Deposit, Reinvestment schemes, RD schemes, etc) among all banks in the UT of A & N Islands.
The Licenses authorizing the opening of 9 new branches at Long Island, Junglighat, Nimbutala, Betapur, Kishorinagar, Mahatma Gandhi Govt. College, Wandoor, Burmanallah and Chowra have been obtained from Reserve Bank of India in terms of Section 23 read with Section 56(p) of the Banking Regulation Act, 1949 (AACS). The Bank shall shortly open these branches. The ATM services of the bank shall be made available to customers along with RUPAY Debit Cards very shortly which
can be operated in all ATMs in the Country. Similarly, the ATM cards of other banks can also be used in ATMs of our bank in A & N Islands.
