Vijaya Bank targets Rs one lakh crore biz volume by 2009

Mangalore, Sep 21 (UNI) Public sector Vijaya Bank has targeted to achieve a total business volume of Rs one lakh crore by 2009, its Executive Director T Valliappan said today.

Addressing newspersons after inaugurating the 16th annual general meeting of Vijaya Rural Development Foundation (VRDF) here, he said the bank, celebrating its platinum jubilee this year, had crossed Rs 49,500 crore business level by August. It had projected to achieve Rs 60,000 crore business by March 2007 and Rs 75,000 crore by March 2008.

Mr Valliappan said the bank had applied for permission to start overseas operations in Hong Kong, China, Dubai and Malaysia.

Besides, it had proposed to increase its branch network to 1,000 from the present 926 by the end of this fiscal.

To a query, he said the bank's V-adalats, launched in June last, had started yielding good results. The V-adalats, to be held twice a month in all its 17 regions, were expected to bring down the NPA level of the bank in the coming days. The bank's gross NPA had come down to three per cent and net NPA was at one per cent, he added.

Mr Valliappan said the bank had given special thrust to customer service and steps have been taken to address the grievances of customers within 48 hours of receiving a complaint and provide interim reply if no redressal was given within 48 hours.

Earlier, inaugurating the AGM, he announced that from this year, the VRDF would award a cash prize of Rs 5,000 for the best suggestion to improve the functioning of the Foundation with the main aim of motivating the members to get involved in the activities. Besides providing free training to educated youths for self employment through its Vijaya Institute of Self Employment, the bank had promoted 16,000 self help groups, he added.

UNI MA GD GM1804