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Vijaya Bank
Vijaya Bank was a PSU bank which was merged with Bank of Baroda on 1 April 2019 with its head office in Bangalore, Karnataka, India. It was one of the nationalised banks in India. The bank offered a wide range of financial products and services to customers through its various delivery channels. As of March 2017, the bank had a network of 2031 branches throughout the country and over 4,000 customer touch points including 2001 ATMs. History Vijaya Bank was established by a group of farmers led by A. B. Shetty on 23 October 1931 in Mangalore in Dakshina Kannada district of Princely State of Mysore (present-day Karnataka). Since it was established on day of Vijayadashami, it was named "Vijaya Bank". During the economic chaos created out of the Great Depression of 1927–30, Shetty approached leading Bunt personalities to start a bank with the objective of extending credit facilities at a lower rate of interest to enable the farmers to cultivate their lands and prevent them fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not ( unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vijaya Bank Founders Branch Mangaluru
Vijaya may refer to: Places * Vijaya (Champa), a city-state and former capital of the historic Champa in what is now Vietnam * Vijayawada, a city in Andhra Pradesh, India People * Prince Vijaya of Sri Lanka (fl. 543–505 BC), earliest recorded king of Sri Lanka * Vijaya (Satavahana) (c. 3rd century), Indian ruler of the Satavahana dynasty; successor of Yajna Sri Satakarni * Vijaya Manikya I (r. 1488), king of Tripura * Vijaya Manikya II (r. 1532–1563), king of Tripura * Vijaya-Bhattarika (r. c. 650–655), regent of the Chalukya dynasty of southern India * Vijaya Kumaratunga (1945–1988), Sri Lankan actor, social activist, politician * Vijaya Nandasiri (1944–2016), Sri Lankan actor, director, producer, singer * Vijaya Lakshmi Pandit, Indian diplomat and politician In Hindu mythology * Vijaya (bow), the personal bow of Shiva and Karna * Vijaya, daughter of Dyutimat, the king of Madra Kingdom * Jaya-Vijaya, the door-keepers of Vaikuntha, the realm of the god Vishnu in Hin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana () is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions. This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014. He had announced this scheme on his first Independence Day speech on 15 August 2014. Run by Department of Financial Services, Ministry of Finance, under this scheme 15 million bank accounts were opened on inauguration day. The Guinness Book of World Records recognized this achievement, stating: "The most bank accounts opened in one week as a part of the financial inclusion campaign is 18,096,130 and was achieved by the Government of India from August 23 to 29, 2014". By 27 June 2018, over 318 million bank accounts were opened and over ₹792 bil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Inclusion
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products. Financial inclusion efforts typically target those who are unbanked and underbanked, and directs sustainable financial services to them. Financial inclusion is understood to go beyond merely opening a bank account. It is possible for banked individuals to be excluded from financial services. Having more inclusive financial systems has been linked to stronger and more sustainable economic growth and development and thus achieving financial inclusion has become a priority for many countries across the globe. In 2018, it was estimated that about 1.7 billion adults lacked a bank account. Among those who are un-banked a significant number were women and poor people in rural areas a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-performing Asset
A non-performing loan (NPL) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector, as it reduces the profitability of banks, and is often presented as preventing banks from lending more to businesses and consumers, which in turn slows down economic growth (although this theory is disputed). In the European Union, the management of the NPLs resulting of the global financial crisis of 2008 has become a politically sensitive topic, culminating in 2017 with the decision by the Council to task the European Commission to launch an action plan to tackle NPLs. The action plan supports the fostering of a secondary market for NPLs and the creation of Asset Management Companies (aka bad bank). In December 2020, this action plan was revised in the wake of the Covid19 pandemic crisis. Definition Non-performing loans are generally recognised as per the following criteria: * Pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dena Bank
Dena Bank was a government-owned bank that in 2019 merged with Bank of Baroda. It was headquartered in Mumbai and had 1,874 branches. The bank was founded in 1938 as a privately owned Bank. In 1969 the Government of India nationalized ''Dena Bank''. History Dena Bank was founded on 26 May 1938 by the sons of Devkaran Nanjee - Choonilal Devkaran Nanjee , Pranlal Devkaran Nanjee & other family members under the name Devkaran Nanjee Banking Company. It adopted its new name, Dena (Devkaran Nanjee) Bank, when it was incorporated as a public company in December 1939. In July 1969, the government of India nationalized Dena Bank, along with thirteen other major banks. Dena Bank thereby became a Public Sector bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. Amalgamation On 17 September 2018, the Finance Ministry of the government of India proposed to merge three state run banks — Vijaya Bank, Bank of Baroda, and Dena Bank — into a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (India)
The Ministry of Finance (IAST: ''Vitta Maṃtrālaya'') is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. The Ministry of Finance is the apex controlling authority of ''four'' central civil services namely Indian Revenue Service, Indian Audit and Accounts Service, Indian Economic Service and Indian Civil Accounts Service. It is also the apex controlling authority of one of the central commerce services namely Indian Cost and Management Accounts Service History R. K. Shanmukham Chetty was the first Finance Minister of independent India. He presented the first budget of independent India on 26 November 1947. Department of Economic Affairs The Department of Economic Affairs is the nodal agency of the Union Government to formulate and monitor country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vijaya Bank MG Road Bangalore 11-22-2008 6-31-06 PM
Vijaya may refer to: Places * Vijaya (Champa), a city-state and former capital of the historic Champa in what is now Vietnam * Vijayawada, a city in Andhra Pradesh, India People * Prince Vijaya of Sri Lanka (fl. 543–505 BC), earliest recorded king of Sri Lanka * Vijaya (Satavahana) (c. 3rd century), Indian ruler of the Satavahana dynasty; successor of Yajna Sri Satakarni * Vijaya Manikya I (r. 1488), king of Tripura * Vijaya Manikya II (r. 1532–1563), king of Tripura * Vijaya-Bhattarika (r. c. 650–655), regent of the Chalukya dynasty of southern India * Vijaya Kumaratunga (1945–1988), Sri Lankan actor, social activist, politician * Vijaya Nandasiri (1944–2016), Sri Lankan actor, director, producer, singer * Vijaya Lakshmi Pandit, Indian diplomat and politician In Hindu mythology * Vijaya (bow), the personal bow of Shiva and Karna * Vijaya, daughter of Dyutimat, the king of Madra Kingdom * Jaya-Vijaya, the door-keepers of Vaikuntha, the realm of the god Vishnu in Hin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationalised
Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy – telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water – though, in many jurisdictions, many such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mulki Sunder Ram Shetty
Mulki Sunder Ram Shetty (1915-1981) was an Indian Banker. He was associated with Vijaya Bank since 1946 and joined the board of directors of the bank as Chairman from 1962, became the Hon. Chairman from 1962 to 1969 resulting in growth of Vijaya bank. and then remained as full-time Chairman till 1978. Under the Chairmanship of Shri Mulki Sunder Ram Shetty, Vijaya Bank steadily grew into a large All India Bank with nine smaller banks merging with it during 1963-1968. During the year 1965, the Bank registered its own logo. Biography Mulki Sunder Ram Shetty was born in a Tulu-speaking Tuluva Bunt community to Bommerabettu Muddana Shetty and Kakwaguttu Seethamma Shetty on April 30, 1915 in Kakwaguthu lineage of Mulki. He underwent high school education in St Aloysius, Mangaluru. He began his career in insurance and banking by working for various companies initially namely Tropical, Warden, Crescent, Atlas & Triton. Later he joined Vijaya Bank in 1946 and became a part of its grow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scheduled Banks
Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934. Reserve Bank of India (RBI) in turn includes only those banks in this Schedule which satisfy the criteria laid down vide section 42(6)(a) of the said Act. Banks not under this Schedule are called Non-Scheduled Banks Facilities Every Scheduled bank enjoys two types of principal facilities: it becomes eligible for debts/loans at the bank rate from the RBI; and, it automatically acquires the membership of clearing house. Types of banks There are two main categories of commercial banks in India namely - * Scheduled Commercial banks * Scheduled Co-operative banks Scheduled commercial Banks are further divided into 5 types as below - # Nationalised Banks # Development Banks # Regional urban Banks # Foreign Banks # Private sector Banks #Payment bank (currently five banks NSDL Payments Bank, Airtel Payments Bank, Fino Payments Bank, India Post Payments Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bunt (community)
Bunt () is an Indian community, who traditionally inhabit the coastal districts of Karnataka. Bunts were originally a warrior class community with agrarian origins, and form the landed gentry of the region. They are the dominant, land-owning farming community of Tulu Nadu and speak Tulu as well as Kundagannada as their mother tongue. The Bunts today are a largely urbanised community with a population size of 1 million worldwide. Etymology The word ''Bunt'' means ''powerful man'' or ''warrior'' in Tulu language. Bunts are also referred to as ''okkelme,'' which means farmers or cultivators and references their agrarian origins. History American anthropologist Sylvia Vatuk states that the Bunt community was a loosely defined social group. The matrilineal kin groups that constituted the caste were linguistically, geographically and economically diverse, which were united by their arrogation of aristocratic status and power. The Bunts speak Tulu and Kannada as their native lan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
