A recent press report said that Vijaya Bank has started the process of increasing loan repayment periods in order to enhance retail borrowers come out of the possible financial stress following the increase in interest rates in the recent months,.
Mr. H.S. Upendra Kamath, Chairman and Managing Director of the bank, said about the extension of the repayment period while delivering a talk on MSME and general banking issues at Kanara Chamber of Commerce and Industry (KCCI) here on Friday.
He also said that the Government has asked bankers to assist retail and MSME borrowers in case they need any support. He said the decision of extending help to the retail borrowers lies in the hands of individual banks. Its retail loan portfolio includes home loan, personal loans, car loans, education loan, mortgage loan etc.
Vijaya Bank a medium sized bank with presence across India was founded on October 23, 1931. Today it has the highest number of branches in its home state Karnataka. The bank has been giving greater drive towards technological upgradation of its operations. It has network of 1200 branches, 49 extension Counters and 551 ATMs, 789 centers, covering 100 % of Bank’s business.
The bank has entered several new areas such as credit card, merchant banking, hire purchase and leasing, and electronic remittance services.