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Vijaya Bank Company History and Annual Growth Details

1980 - The Bank came into existence on 15th April, as a consequence of
the Government of India taking over the undertaking of Vijaya
Bank Ltd. The Bank is engaged in transacts all types of banking
business including foreign exchange and is a Government of India

1984 - Capital worth Rs 10 lakhs subscribed by Government.

1985 - The Bank sponsored its first Regional Rural Bank under the name
and style 'Visweswaraya Grameena Bank' in March. This Regional
Rural Bank would cater to the needs of the target group belonging
to Mandya district of Karnataka State.

- Capital worth Rs 772 lakhs subscribed by Government.

1986 - Capital worth Rs 1000 lakhs subscribed by Government.

1989 - Rs 800 lakhs subscribed by Government.

1991 - Rs 2500 lakhs subscribed by Government.

1992 - Rs 2500 lakhs subscribed by Government.

- The bank has introduced automatic renewal facility upto four
times in respect of short term deposits accepted for periods from
forty six days to one year for the convenience of the customers.

- The novel scheme of 'Vijaya Vichar Vihar' was introduced by
the Bank in 1989 and is now flourishing in 25 centres as
on March.

- In October, a new and unique scheme viz., 'VIJAYASHREE UNITS
DEPOSIT SCHEME' combining the features of term deposit and the
flexibility of savings bank deposit was launched.

- The Bank introduced 'Vijaya Stockinvest' scheme in May. To make
it more investor friendly, the special features of Vijaya Shree
Units Scheme were incorporated to this scheme and the scheme is
gaining in popularity among the investing public.

1993 - Rs 5000 lakhs subscribed by Government.

- The Bank has installed 68 ALPMs in 25 branches.

- The 'Vijaya Bank Diamond Jubilee Scholarship Scheme' was
introduced as a part of Diamond Jubilee Celebrations of the
Bank, with the objective of awarding scholarships to such
of those children of serving permanent sub-staff employees.

1994 - Rs 6500 lakhs subscribed by Government.

- The Bank had entered into the Memorandum of Understanding
with the Reserve Bank of India, undertaking to fulfil definite
performance commitments.

- The Bank introduced the new schemes viz. Vijaya Gift Bond Scheme
and Vijaya Service Card for enlarging its services to its
business clientele.

- The Bank introduced three new loan schemes, viz., V-Cash meant
for salaried class, V-Equip for professionals and V-Stock for
individual investons.

- The Bank has introduced a recovery incentive scheme viz. 'Loan
Recovery Motivation Scheme 1994'.

- The Bank opened its third exclusive NRI branch at Mapuca (Goa)
and established special NRI Cells at the branches in Tiruvalla,
Kottayam, Trivandrum and Kozhencherry (all in the Kerala State).

- The Bank launched its 'V-Invest' Scheme in January.

1995 - Rs 6231 lakhs subscribed by Government.

- The Bank opened 33 new branches taking the total to 810 branches.

- The three new loan schemes, namely V-Cash, V-Equip and V-Stock
introduced by the Bank last year were well received by the

- The Bank opened five Hi-tech Agricultural Finance branches at
Bangalore, Coimbatore, Delhi, Hyderabad and Lucknow.

- The Visveshvaraya Grameena Bank has entered into a Memorandum of
Understanding with the Bank, setting performance parameters for
improving its financial health.

- The Bank entered into an agreement with M/s. Oriental Exchange
Co., WLL Manama, Bahrain providing for the Bank's participation
in the said exchange company's day-to-day management.

- The Bank entered into strategic alliance with leading private
sector banks and branches of foreign banks in India viz Citi
Bank, N. A. India, Catholic Syrian Bank Ltd, HDFC Bank Ltd,
Centurion Bank Ltd, UTI Bank Ltd, etc.

- The Bank introduced Office Automation by providing
state-of-the-art word processors at 45 branches, 13 Regional
Offices and Headoffice departments.

- The Bank's house magazine Vijaya Vikas entered its 20th year of
publication and was awarded the coveted 'Best House Journal of
the Year' award by the Public Relations Society of India.

- Vijaya Bank launched a fully operational Custodial Services
Division at Mumbai on 29th March.

1996 - The Bank opened its first subsidiary, VIBANK HOUSING FINANCE LTD
to add impetus to housing finance.

- Vijaya Bank introduced three new loan schemes, namely, 'Vijaya
Nivruthi', 'Vijaya Krishi Vikas' and 'Vijaya Mangala' to cater
to the credit needs of pensioners, farmers and working women

- The Bank has also entered into tie-up arrangements with ICICI
Banking Corporation Limited and Oman International Bank Ltd.

- The Bank introduced innovative banking service called 'Any Branch

1997 - Vijaya Bank has introduced a novel way to improve customer

- The bank has recently introduced a system of rating its branches
once in six months to evaluate the quality of service and the
facilities extended to the clientele.

- Vijaya Bank has launched a special agriculture credit plan
targeted specifically at agriculture and other, rural advances.

- The bank launched the 'special loan recovery motivation scheme'
which helped reduce the level of NPAs from 11.6 per cent to 9.6
per cent.

- The Bank has recently introduced a new 'trade finance' scheme.

1998 - Vijaya bank has introduced a jewel scheme under which loans
are granted by the bank to fund the purchase of jewellery by
keeping the purchased item as collateral till the loan has been

- The Bank introduced several novel loan schemes viz. 'Liquidity
Finance Scheme' to help SSI entrepreneurs to meet the shortfall
in net working capital and 'Flexible Credit Scheme' with built in
flexibility to utilise bank credit as pre sale or post sale
finance by SSI units.

- The Bank has entered into domestic correspondent Banking
arrangements with various private sector banks and foreign banks.

1999 - Vijaya Bank has entered into a Rs 200-crore take-out financing
agreement with the Housing and Urban Development Corporation
(Hudco) for funding infrastructure projects.

- The Housing and Urban Development Corporation (Hudco) has entered
into a three-year reversible securitisation deal with the public
sector Vijaya Bank, to raise funds for meeting some of its
infrastructure financing commitments.

2000 - Vijaya Bank has introduced a new scheme named V-Star savings bank
account scheme.

- Vijaya Bank Chairman and Managing Director S Gopalakrishnan has
been elected as the president of Indian Banks' Association,

- Vijaya Bank is entering the capital market with an initial public offering of
10 crore shares of Rs 10 each for cash at par aggregating Rs 100 crore,
bringing down the shareholding of the government from 100 to 72.16 per cent.

- Vijaya Bank's maiden public issue of 100 million shares of Rs 10 each which
opened for public has been oversubscribed by 1.84 times.

- Vijaya Bak is increasing its focus on technology and, given the VRS pressure on its
HR, the bank set up more networked ATMs.


-Vijaya Bank has informed BSE that Government of India appointed Sri M S Kapur as the Chairman & Managing Director of the Bank and Mr M S Kapur took charge as Chairman & Managing Director of the Bank w e f August 16, 2002.

Bank has further informed that Sri Michael Bastian, Executive Director of Bank has been posted as the Chairman & Managing Director Syndicate Bank. Mr Michael Bastian was relieved as the Executive Director of the Bank on August 24, 2002.


-Vijaya Bank signs a pact with LIC to offer Life insurance cover to all its existing as well
as its new deposit-holders.

-Bank officials are undertaking roadshows where senior officials carry placard, giving
reasons about their visit. This is an innovative way to deal with defaulters for repaying
loans without publicly naming them.

-Vijaya Bank has unveiled a new electronic fund remittance facility called V-REMIT, under
which the bank customers can electronically remit funds to the account holders in any bank.

-P A Sethi has been appointed as the Executive Director of the Vijaya Bank.

-Vijaya Bank has signed a Memorandum of Understanding with M/s National Insurance
Company Limited for marketing bancassurance products.

-Vijaya Bank has named its merchant bankers for its public issue amounting to Rs.100cr
and slated to be released from the next month.

-Bank has decided to amalgamate its own subsidiary VIBANK Housing Finance Ltd.(VHFL)
with the Vijaya Bank.

-Vijaya Bank has informed that GOI has appointed Sri.K.R.Aananda (Director, RBI Nominee),
The bank's board now consists of the following:
Mr.M.S Kapur,CMD Mr.P.A Sethi (Ex.Director) Mr.R.Ranganath(Director)
Mr.K.R Anand (Director) Mr.K.Kiran (Director) Mr.Babuseth Tyrewala (Drtr)
Mrs.Sukdha Misra ( Director) Mr.Pawan Kumar sharma (Director)
Mr.S Ananthan (Director) Mr.R Ashok Kumar ( Director)
Mr.S.P Krishna Swamy (Director) Mr. B.K.Jagdish Chandra (Director)

-Vijaya Bank has opened a Kiosk that is exclusively for retail lending at its Ashoknagar
Branch in Mangalore.

-Vijaya Bank has hiked the rate of interest on FCNR ( B) deposits for all the three currencies
accepted by it.

-Bank has signed MoU with Punjab National Bank and Principal Financial Group of USA
for a joint venture participation in Asset Management Company.

-Vijaya Bank decides to open training centre for employees in Bangalore

-The Union government has bought back Rs 240-crore high-yielding government securities from Vijaya Bank.


-Vijaya Bank ties up with NIC to offer free insurance policy

-US-based Pricipal Group enters distributorship tie-ups with Vijaya Bank

-Delhi based Punjab National Bank (PNB) and Bangalore-based Vijaya Bank enter into a four-way partnership with Principal Financial of the US and Berger Paints to set up an insurance broking company

-Vibank Housing Finance Ltd. becomes wholly owned subsidiary of Vijaya Bank

- Vijaya Bank has entered into a memorandum of understanding (MoU) with two tractor manufacturers International Tractors and Mahindra Gujarat Tractors to provide finance on softer terms to farmers for purchase tractors and power tillers

-VIJAYA Bank signs pact with Nabard to co-finance agriculture, agro processing, hi-tech agriculture and rural development projects.

-Vijaya Bank too enters RTGS bandwagon

-Principal Asset Management Company (AMC) formally relaunches itself as Principal PNB Asset Management Company in association with Vijaya Bank on July 2, 2004

-Vijaya Bank launched the bank's second city specific credit card - the 'Hyderabad Card'

-Vijaya Bank has entered a Memorandum of Understanding with M/S Eicher Tractors with a view to facilitate farmers for purchase of tractors on softer terms

-Vijaya Bank has entered into a Memorandum of Understanding with Punjab Tractors Limited with a view to help farmers purchase tractors on softer term loans

-Bangalore-based Vijaya Bank has launched a new credit facility for farmers who are caught up in the clutches of private money-lenders and help them to improve their financial status

-Vijaya Bank ties up with New Holland Tractors

-Vijaya Bank ties up with National Insurance


-Vijaya Bank ties up with TAFE

-Vijaya Bank sets up new branches


- Vijaya Bank has informed that Shri G B Singh has been nominated as GOI Nominee Director of the Bank vice Shri Atul Kumar Rai, vide letter dated August 20, 2007 received from Government of India, Ministry of Finance, Department of Financial Services with immediate effect.


- Vijaya Bank inked a memorandum of understanding with credit rating agency, Crisil, for rating its corporate customers.

- Vijaya Bank has inked a pact with Credit Analysis & Research Ltd (CARE), one of the RBI accredited rating agency, to provide bank loan ratings to its corporate clients at a concessional fee.

-Vijaya Bank has informed that Shri. Sridhar Cherukuri has been nominated as part-time non-official Director of the Bank with immediate effect, vide letter dated July 10, 2008 received from Government of India, Ministry of Finance, Department of Financial Services.

-Vijaya Bank has informed that Shri. Ranjan Shetty has been nominated as Officer Employee Director of the Bank with immediate effect, vide letter dated September 09, 2008 received from Government of India, Ministry of Finance, Department of Financial Services.


- Vijaya bank has plans to issue 1,000 biometric smart cards to account-holders residing in villages by the end of this fiscal.

- Vijaya Bank forged an alliance with VE Commercial Vehicles, a leading auto brand, to become a preferred financier for the latter's commercial vehicles.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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