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NT Bureau
Chennai, Feb 15:
 

Union Finance Minister P Chidambaram inaugurating the new branch of Vijaya Bank at Kothamangalam recently. Also seen are Vijaya Bank chief Prakash P Mallaya, and executive director T Valliappan.

        Vijaya Bank came in for praise for its customer-friendly initiatives during the opening of 947th branch at Kothaman-galam in Sivaganga district recently.

        In his inaugural address, Union Finance Minister P Chidambaram said that the bank had shown tremendous progress during the nine month period after the chairman and executive director assumed office. He appreciated the bank for strictly adhering to directions of Ministry of Finance and the guidel-ines of RBI.

        Pointing out that Vijaya Bank was pioneer in extending advance to the coffee estates, he made a plea to the officials of Kothamangalam branch extend loans to eligible beneficiaries so as to bring them above the poverty line and also to bring in economic development in and around Kothama-ngalam. Later he distributed loans to the tune of Rs 1.07 crore to the members of Self Help Groups, students, agriculturists and to other beneficiaries under government sponsored programme.

        Vijaya Bank executive director T Valliappan in his address said that the bank is keen on expanding the branch network, particularly in rural and semi-urban areas. The recent one to be opened is Pudukottai branch.

        Tracing the history of Vijaya Bank, Valliappan said that the bank started with a humble beginning wayback in 1931 at Mangalore to meet the needs of farming community. And it has grown from strength to strength to become a one stop shop for all financial needs of varied customers. The bank has come a long way to complete its 75 years of service to its customers.

        Vijaya Bank chairman and managing director Prakash P Mallaya assured to extend various banking products to suit the needs of the rural folk with a view to bring economic growth and prosperity in the area.

        The 948th branch at Pudukottai was inaugurated by Union Minister of State for Home Affairs S Regupathy. Commending the services rendered by the bank, he made a plea to extend all possible assistance to varied customer needs and assured to support the initiatives of the bank for the growth of Pudukottai area.

        Regional Manager M Rathnakar Shetty proposed a vote of thanks.