Vijaya Bank has increased loan repayment periods to help retail borrowers

By | August 5, 2011

A recent press report said that Vijaya Bank has begun the process of increasing loan repayment periods in order to help retail borrowers come out of the possible financial stress following the increase in interest rates in the recent months. The banks retail portfolio includes home loan, mortgage loan, personal loans, vehicle loans, Vijay professional loan, Vijaya Swashakti etc.

Reports said that Mr. H.S. Upendra Kamath, Chairman and Managing Director of the bank, said this while delivering a talk on MSME and general banking issues at Kanara Chamber of Commerce and Industry (KCCI). He said that the Government has asked bankers to help retail and MSME borrowers in case they need any support.  He also said that it is left to the individual banks to draw up various measures in their wisdom.

Vijaya Bank has the highest number of branches in its home state Karnataka. It is one among the few banks in the country to take up principal membership of VISA International and MasterCard International. In line with the prevailing trends, the bank has been giving greater thrust towards technological upgradation of its operations. The bank has network of 1200 branches, 49 extension Counters and 551 ATMs, 789 centers, covering 100 % of Bank’s business.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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