knowmyifsc.com

The Andhra Pradesh State Co-operative Bank Limited (APCOB) was formally constituted on August 4, 1963, following the amalgamation of the Andhra State Co-operative Bank and the Hyderabad Co-operative Apex Bank Limited. This formation was authorized by the Andhra Pradesh State Co-operative Bank (Formation) Act, 1963. Its operational track record, however, traces back to the commencement of the Andhra State Co-operative Bank in the 1950s. The bank was included in the Second Schedule of the Reserve Bank of India (RBI) Act in 1966, establishing it as a Scheduled State Cooperative Bank. Following the bifurcation of the state in 2015, the bank was reconstituted as the residual APCOB for Andhra Pradesh, while the Telangana portion became the Telangana State Cooperative Apex Bank Limited (TSCAB).

APCOB is not a public sector (government-owned commercial) or private sector bank, but rather the apex cooperative bank in Andhra Pradesh, operating under a cooperative legal structure and dual regulation from the RBI and the State Cooperative Act. Its primary significance lies in its role as the head of the State’s three-tier cooperative credit structure, providing financial support to District Co-operative Central Banks (DCCBs) and Primary Agricultural Credit Societies (PACS). The bank's core mandate and commitment are to agricultural and rural development, with agricultural advances comprising the vast majority of its loan portfolio, making it a critical institution for rural financial inclusion and the state's farming community.