The Andhra Pradesh Madhyanchal Gramin Bank Mini Statement Number is a special document issued by the Bank. It contains information regarding loans, savings and other financial transactions made during one’s tenure as a borrower. This particular document is also useful to ensure that the borrower’s financial status is maintained, as per the state laws and policies governing the banking industry in Andhra Pradesh. There are some banks in Andhra Pradesh, which has introduced a new format for their documents to make them more convenient and user friendly to borrowers. This new format is called the “Grameen Virodhi”.
The Grameen Virodhi has been designed to make it easy for account holders to access and check their financial transactions from any corner of the world. For instance, if the loan amount is transferred to the bank account of the customer, he can easily go online and check on his account statements. However, if he wishes to check on the financial transaction on his laptop, he can use the laptop to access the bank’s website. He does not need to walk outside to get all the details.
With the introduction of the new format, online application forms are now easier to access. The borrower need not wait until the next payday for him to log on to the website of the bank. The borrower need not wait till a day before his payday to access the website of the bank.
The bank’s website also enables the account holder to withdraw the funds from his account. Thus, if he wants to transfer the funds to another account, he can do so without having to leave his home. In addition to this, the online application form makes it possible for borrowers to access their statements online. They can easily check the status of their account online.
Most of the online banks in Andhra Pradesh to provide online services for making the borrower’s account statements very easy. However, this ease of access comes with certain costs. The banks have to incur certain costs in setting up the online services. Some of the costs include the server costs, the operating costs, the software costs, the internet connection costs and the maintenance charges.
The cost of the online services may vary from one bank to another. Hence, borrowers should check with different banks before opting for the online services. In fact, the online services should always be availed only by those who can afford to pay high costs.