Vijaya Bank has targeted to bring 400 of its branches
under core banking solutions network by the end of next
will cover nearly 80 per cent of the bank''s total business.
Already, 35 branches have been networked and the number
will go up to 60 branches by the end of the current financial
year, according to M S Kapur, chairman and managing director
of the bank.
told newspersons that the bank was accelerating its lending
to the agricultural sector in line with the centre''s policy
of doubling agricultural credit in three years.
was in the city for the opening of the bank''s 893rd branch
in the country.
the decline in the net profit of most of the banks, he
said this was due to a fall in trade profit and the higher
provisions the banks had to make for portfolio appreciation.
However, this was only a temporary setback as there had
been an increase in the interest income of the banks,
observed that the practice of lending at below the prime
lending rate to big-ticket clients like blue-chip companies
was affecting the banking system. In fact, such clients
are in a position to pay higher rates for their borrowings.
suggested that individual banks should be allowed to fix
their own PLR and once they did it, they should not be
permitted to lend
below that rate. Under the present dispensation, the rich
became richer and the poor became poorer, he noted.