Vijaya Bank - AbsoluteAstronomy.com

History

Vijaya Bank a medium sized bank with presence across India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

. It was founded on October 23, 1931 by A. B. Shetty

A. B. Shetty

Attavar Balakrishna Shetty better known as A. B. Shetty was an Indian politician, philanthropist, entrepreneur and the founder of Vijaya Bank.- Biography :...

and a few other farmer

Farmer

A farmer is a person engaged in agriculture, who raises living organisms for food or raw materials, generally including livestock husbandry and growing crops, such as produce and grain...

s in Mangalore

Mangalore

Mangalore is the chief port city of the Indian state of Karnataka. It is located about west of the state capital, Bangalore. Mangalore lies between the Arabian Sea and the Western Ghat mountain ranges, and is the administrative headquarters of the Dakshina Kannada district in south western...

, Karnataka

Karnataka

Karnataka , the land of the Kannadigas, is a state in South West India. It was created on 1 November 1956, with the passing of the States Reorganisation Act and this day is annually celebrated as Karnataka Rajyotsava...

in India.. The objective was to promote banking habits, thrift and entrepreneurship among the farming community of Dakshina Kannada

Dakshina Kannada

- Geography :The district geography consists of sea shore in the west and Western Ghats in the east. The major rivers are Netravathi, Kumaradhara, Phalguni, Shambhavi, Nandini or Pavanje and Payaswini which all join Arabian sea. Vast areas of evergreen forests which once covered this district, have...

district in Karnataka State. The bank became a scheduled bank

Scheduled banks

Scheduled Banks in India are those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 of the Act....

in 1958. Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with it during 1963-68. The bank was nationalised on April 15, 1980.

Headquarters in Bangalore

Growth & Nationalisation

Vijaya Bank grew steadily by merging nine smaller banks into it between 1963-68. Mulki Sunder Ram Shetty, who was then the Chief Executive of the bank is largely credited with these mergers. The bank was nationalised on April 15, 1980.

Currently, Vijaya Bank employs 12,107 people.

Branches

The bank has network of 1250 branches, 49 Extension Counters and 643 ATMs (as of September 30, 2011).

All branches are functioning on the CBS platform, covering 100% of the Bank's business.

Focus on Information Technology

The Bank has chosen Finacle

Finacle

Finacle universal banking products are designed to address the core banking, e-banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks. It is developed by Infosys, and is one of the major players in the arena of core banking in Indian and...

from Infosys

Infosys

Infosys Limited, formerly Infosys Technologies Limited is a global technology services company headquartered in Bangalore, India. It is the second largest IT exporter in India with 133,560 employees as of March 2011. It has offices in 33 countries and development centers in India, China,...

as its Centralized Banking Solution (CBS). In line with prevailing trends, the bank has been focussing on technological upgrades to operations.

It now offers services such as credit cards, merchant banking, hire purchase and leasing, and electronic remittance services.

Vijaya Bank is one among the few banks in the country to take up principal membership of VISA International and MasterCard International.

History

Growth & Nationalisation

Branches

Focus on Information Technology

See also