Welcome to The Amaravathi Multi-Purpose Mutually Aided Co-Operative Society Limited, a New Generation Quasi Banking MAC Society.
The Amaravathi Multi-Purpose Mutually Aided Co-Operative Society Limited is incorporated and registered with Department of Co-Operatives, Andhra Pradesh under The Andhra Pradesh Mutually Aided Co-Operative Societies Act -1995 in 2017. Its registered Number is AMC/EGDT/DCO/2017/12.
The Amaravathi MMACS Ltd is promoted by professional Ex-Bankers who are having 20+ years IN BFSI Sector experience. The Amaravathi MMACS Ltd is being run in the model of Quasi Banking. Thus, The Amaravathi MMACS Ltd is referred as New Generation Quasi Banking MAC Society.
Quasi Banking:
We do all functions of Banking (accepting deposits and lending to a person who needs money (investor/borrower) at an interest rate) except issuance of Cheques/Demand Drafts/Banker’s Cheques, Bank Guarantees under the Negotiable Instrument Act-1881.
However, latest payment gateway technology empowered us to offer digital platforms like NEFT/RTGS transactions to our Customers with an agreement of Correspondent Banking