Vijaya Bank to open 15 gen next branches

September 4, 2011

Mangalore, September 4: Vijaya Bank Chairman and Managing Director H S Upendra Kamath said that the bank is planning to open about 12 to 15 Gen Next bank branches in this financial year.


Speaking to presspersons here on Saturday, Gen Next braches are exclusely for those youth who do not have time to attend the banking system. In the Centre, all banking transactions are carried out through teller machines. This is an attempt to attract tech savy youth.

Financial inclusion

The CMD said: “We have been allotted 408 villages and have completed the process in 260 villages under financial inclusion. We are planning to complete the process of financial inclusion in all the targetted villages above 2000 population before January 2012. In fact, we have started credit linking of those needy persons who are included under financial inclusion.” Loans worth Rs 21 lakh was disbursed under credit linking to the villagers of Keyur in Kumbra (Puttur) in Dakshina Kannada on Saturday, he added.

The Bank is also planning to open five to eight Micro Financing branches to meet the credit requirements of urban population under financial inclusion. The micro financing branches are helpful in undertaking poverty alleviation programmes, he added.

Branches

The CMD said that bank is planning to open 100 new branches and 250 ATMs across the country during the current year. Most of the branches and ATMs will be opened on 80th Founders' Day of the bank, i.e, on October 23.

Target

He said the bank aims to reach a business level of Rs 1,53,000 crore, with a y-o-y growth of about 25 per cent. To sustain the tempo of credit growth with focus on retail, he said revamped RACPC (Retail Asset Credit Processing Cell) and newly opened SME cells will give added thrust to retail asset growth. Five more Micro, Small and Medium Enterprises centralised processing centres will be started in 2011-12.

The Bank will continue thrust on maintaining the yield on advances by encouraging retail lending, credit to SSI/SME segment, agriculture and infrastructure sectors. The bank plans to contain the net Non Performing Assets (NPA) to be within 1 per cent (present 1.65%). The bank has fully adopted a system-driven NPA identification process, he informed.

Special campaign will be started for adding retail clients both on assets and liabilities side. The Bank has started cash incentive scheme to enthuse all employees of the bank to participate in the loan recovery process.

“We organise one recovery camp in a week in any of the branches,” Kamath added. 'Saving Utsav' will be launched in all the branches from October 1.

He said emphasis will be given on mobilising low cost deposits / core term deposits to improve share of low cost deposit and to reduce the dependence on bulk deposits.

Stating that Vijaya Rural Development Foundation will go on outreach programme by opening new VDC, he said new schemes are implemented as a part of their Corporate Social Responsibility.

Kamath said the bank would increase CASA (current account savings account) share to 27 per cent by March, 2012. In 2010-11, CASA registered a growth of 21.32 per cent, the share being 25.25 per cent of total deposits.

The Vijaya Bank has reached a total business of Rs 127000 crore.

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News Network
November 27,2024

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Mangaluru: Dakshina Kannada MP Captain Brijesh Chowta recently met with Union Minister for Railways Ashwini Vaishnav to discuss urgent concerns regarding the region's railway infrastructure development. Key issues raised during the meeting included the long-pending Mangaluru-Bengaluru connectivity, the Shiradi Ghat stretch, and other vital railway concerns impacting the region.

In addition to discussing these issues, Captain Chowta submitted a letter requesting the Union Minister's intervention and support. The letter emphasized the need to merge Konkan Railway with Indian Railways and called for the doubling of railway tracks between Bengaluru and Mangaluru, which would significantly improve rail connectivity between the state capital and Mangaluru.

Further, Captain Chowta raised concerns about enhancing passenger facilities along the region's rail routes, particularly the need for better services between Subrahmanya and Mangaluru.

To bring more attention to these pressing issues, Captain Chowta took to social media, urging the state government’s support. In a tweet on his official X handle, he requested Chief Minister Siddaramaiah to expedite the resolution of these concerns. “In this direction, I request our Karnataka government led by CM Shri @siddaramaiah to kindly provide the necessary state support for the swift redressal of various concerns pertaining to both Konkan Railways as well as HMRDC to ease movement of both people and cargo in this important stretch between Mangalore and Bangalore,” he posted.

The meeting with the Union Minister was attended by Bengaluru Rural MP Dr. CN Manjunath, Udupi-Chikmagalur MP Kota Srinivas Poojary, and Uttara Karnataka MP Vishweshwara Hegde Kageri, all of whom supported the discussion on enhancing railway infrastructure in the region.

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News Network
November 25,2024

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Bengaluru: Karnataka Chief Minister Siddaramaiah has instructed the Hindu Religious Endowment Department to submit a proposal for constructing a gold chariot for the presiding deity of the state, Chamundeshwari, official sources said on Monday.

The directive follows a request from Member of Legislative Council (MLC) Dinesh Gooligowda, who highlighted the historical and cultural significance of the Chamundeshwari Temple on Chamundi Hill in Mysuru, which dates back to the 12th century AD.

Gooligowda noted that the existing wooden chariot, donated by devotees from Coimbatore, Tamil Nadu, has deteriorated over time.

“Devotees have expressed their desire to organise a ‘rathotsava’ using a gold chariot for Goddess Chamundeshwari. This proposal has been under consideration for some time, with an estimated cost of Rs 100 crore,” the MLC said.

He emphasised that the government’s financial involvement would not be required, as devotees are willing to contribute towards making the chariot a reality.

Gooligowda proposed a deadline for the 2025 Dasara festival for the completion of the chariot, ensuring it is ready for the grand procession featuring the idol of Chamundeshwari.

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News Network
November 18,2024

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Mangaluru: The Ullal police have arrested Manohar, the owner of Vazco Beach Resort, and its manager Bharath in connection with the drowning of three college girls from Mysuru at the resort’s swimming pool on November 17.

City Commissioner of Police Anupam Agrawal confirmed the arrests, stating that a case has been registered under Section 106 of BNS. The bodies of the victims, all in their twenties, have been handed over to their parents. The women had arrived at the resort for a weekend getaway on November 16.

Following the tragic incident, the resort was sealed by officials led by Mangaluru Assistant Commissioner Harshavardhan. The trade license of the resort, issued on June 13, 2024, has been suspended, and the tourism department has temporarily revoked the resort's registration. These actions prohibit the resort from engaging in any tourism-related activities until further notice.

Someshwara TMC Chief Officer stated that the suspension was due to the resort's failure to implement adequate safety measures, which resulted in the loss of three lives. Further investigations are underway.

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