TGB & APGVB Digital Savings Account

Complete Details about the TGB & APGVB Digital Savings Account | Open, Apply Online, video kyc

In the latest move, the Telangana Grameen Bank and the Andhra Pradesh Grameen Vikas Bank have launched the Digital Savings Account Open facility through Video Know Your Customer (KYC). Moreover, both these RRB’s in the country to implement the technology of Digital Savings Account Feature. Both the TGB and APGVB have adopted this technology with the support of the State Bank of India. Mr. Dinesh Kumar Khara, the chairman of the State Bank Group, has mentioned that these kinds of initiatives help the banks adopt and implement new technologies.

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The interested candidates can Open the TGB and APGVB Savings Account Online on the dedicated portals.

TGB & APGVB Digital Savings Account 

This article explains the complete details of the TGB & APGVB Digital Savings Account, Procedure to Open and Apply Online and the Video KYC.

Highlights of Telangana & Andhra Gramin Bank Digital Savings A/C

Let us look at the key highlights of the TGB and APGVB Digital Savings Account initiative that has launched recently.

  • Andhra Pradesh and Telangana RRB’s are the first states to initiate the Digital Savings Account.
  • It was virtually launched by the Chairman of SBI, Mr Dinesh Kumar Khara.
  • This initiative’s prime feature is Zero Contact, which enables the onboarding of customers equivalent to commercial banks.
  • Current Account Savings Accounts (CASA) will be increased to both the RRB’s.
  • TGB is currently operating in 18 districts of Telangana. However, it is operating in five districts in Andhra Pradesh.

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How to Open/ Apply TGB & APGVB Digital Savings Account 

Let us see the online procedure to open an account and apply online for the TGB and APGVB Digital Savings Online.

  • The Digital Savings Account is the latest initiative of both the TGB and APGVB.
  • In this instance, we don’t have any information regarding the procedure to apply and open the Digital Savings Account Online.
  • We will keep you updated once there is an official announcement regarding the same.
  • Please visit our articles for the latest updates about the recent initiatives of the State and Union Government.

AP & TS Gramin Bank Disha Instant Account Opening

  • The interested candidates can now open the Instant Account Opening with AP & TS Disha Bank Mobile App.
  • Click Here if you wish to Download Disha TGB App on your mobile.
  • Click Here if you wish to Download Disha APGVB App on your mobile.

Features of Video KYC (Know Your Customer)

Let us see the Video KYC’s key features that have come into the light, along with TGB and APGVB Savings Account.

  • The Video KYC application uses the technology tools such as Facial Recognition, Dynamic Verification Code, AI-enabled OCR, Geo-Tagging as mandated by RBI directives.
  • This feature enables the KYC process safe and secure.
  • Video KYC’s technology has been mandated in various forms by regulators, including V-CIP for banks & NBFCs, VBIP for insurance companies & VIPV for SEBI-registered intermediaries. 
  • Video KYC is a considerable advantage to the people, especially in the pandemics like Covid 19 Pandemic.
  • It reduces operational costs and allows contactless customers onboarding.
  • All interactions are recorded and stored for the future.
  • Video KYC can be effortlessly done by sitting at home. For this, the customers need a laptop, smartphone, or tablet with a working internet connection.

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Quick Links 

TGB Official Website

APGVB Official Website

TGB & APGVB Digital Savings Account FAQ’s

What is the main objective of initiating the Digital Savings Account in TGB and APGVB in the states?

The main motive of initiating the Digital Savings Account facility in RRB’s is to make the banking services more accessible to the people.

Who has launched the TGB and APGVB Digital Savings Account recently?

The Digital Savings Account initiative was virtually launched by the Chairman of SBI, Mr Dinesh Kumar Khara.

What are the first states in which the concept of Digital Savings Account has been implemented?  

Andhra Pradesh and Telangana Gramin Banks are the two states in which the Digital Savings Account has been implemented.

What is the Video KYC concerning the following article?

Video KYC uses technology tools such as Facial Recognition, Dynamic Verification Code, AI-enabled OCR, Geo-Tagging as mandated by RBI directives.

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