Vijaya Bank to open 15 gen next branches

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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Deputy SP suspended over Ganesh idol procession violence in Mandya

News Network

September 20,2024

Mandya: The Deputy Superintendent of Police of Nagamangala town in Mandya district has been suspended for "negligence and dereliction of duty" in connection with the clashes that broke out between two groups during a Lord Ganesh idol procession, police said on Friday.

This is the second suspension of a police officer over the clashes on September 11 following which mobs went on a rampage targeting several shops and vehicles leading to tension here.

The situation in the town has since returned to normalcy and most of the shops have started operating. However, adequate security forces continued to be stationed here as a precautionary measure, according to police.

Sumeeth A R, DySP (Nagamangala), was suspended on Thursday for negligence and dereliction of duty, Mandya Superintendent of Police Mallikarjun Baldandi told PTI.

"He (Sumeeth) was not present at the spot nor was he at the police headquarters when the incident occurred. He arrived late at the spot despite the sensitive nature of events," he said.

Earlier, Police Inspector Ashok Kumar posted at Nagamangala town police station was suspended for dereliction of duty in connection with the violence.

A total of 55 people have been arrested in connection with the incident.

According to police, an argument broke out between two groups, when the Ganesh idol procession by devotees from Badarikoppalu village reached a place of worship on September 11, and some miscreants hurled stones, which escalated the situation.

The police had used mild force to disperse the crowd to control the situation.

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