Reports say that 14 bodies have been recovered so far.
The boat's carrying capacity is 24 people. "Later, the boat was broken to extract the victims stranded under it", Commissioner of Police D. Gautam Sawang, who oversaw the rescue operations, said.
The incident comes days after at least 9 people were killed in similar incidents in Vaishali and Samastipur districts of Bihar. He said that he heard the screaming of the passengers but the boat capsized in minutes after hitting the sand bar.
Vijayawada District Collector said, 17 persons were rescued by NDRF and police forces.
An official said, the boat was making a trip from Punnami Ghat, Bhavanipuram, to Pavitra Sangamam, Ferry village.
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The state government on Sunday announced an ex-gratia of Rs 5 lakhs to the families of the bereaved.
National Disaster Response Force personnel were pressed into service to launch rescue operations, but these were hampered with the sunset.
The state's tourism minister ordered an inquiry into the incident while Chief Minister Chandrababu Naidu expressed his condolences on Twitter.
Andhra Pradesh Congress committee president N Raghuveera Reddy visited the accident spot and later the hospital.