31 March 2016

Vijaya Bank to get Rs 220 crore capital infusion from government

Vijaya Bank to get Rs 220 crore capital infusion from government




State-run Vijaya Bank said the government has approved a capital infusion of Rs 220 crore in lieu of preferential allotment of shares.In the first tranche, as many as 13 public sectors banks were given fund support of Rs 19,950 crore. Of this, SBI got the highest amount of Rs 5,393 crore.


Besides, the government infused Rs 2,229 crore in IDBI Bank Rs 2,009 crore in Indian Overseas BankBSE 2.90 % and Rs 1,732 crore in Punjab National Bank. Last year, the government had announced a revamp plan 'Indradhanush' to infuse Rs 70,000 crore in state-owned banks over four years, while they will have to raise a further Rs 1.1 lakh crore from markets to meet their capital requirements in line with global risk norms Basel-III.t

Vijaya Bank:

Vijaya Bank, was established by Shri. Attavar Balakrishna Shetty at Bunts Hostel in Mangalore on 23 October 1931. Since it was established on Vijayadashami Day, it was named ‘Vijaya Bank. The objective was to promote banking habits, thrift and entrepreneurship among the farming community of Dakshina Kannada district in Karnataka State. The bank became a scheduled bank 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 15 April 1980.

Extra info:
  • PSU banks will get Rs 25,000 crore this fiscal and also in the next fiscal. Besides, Rs 10,000 crore each would be infused in 2017-18 and 2018-19. 
  • Kishore Sansi, MD & CEO of the Vijya Bank
  • Headquarters Bengaluru, India

So lets do:
  • Where is Vijya Bank Headquater situated?
  • Who is the CEO of Vijya Bank?
  • Which bank get recently capital infusion from Government?


Source - The Hindu

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