Bangalore based private lender, Vijaya Bank has opened 171 ultra small branches across the country in a single day. These branches would work in close coordination with the business correspondents (BC) towards providing better services in an efficient manner under the Financial Inclusion drive of the government.
Financial Inclusion aims at providing financial services like deposits, loans, insurance, etc. at a low cost to the financially deprived in small centers like villages with population of less than 2000.
A large chunk of these branches, 100 were inaugurated in Karnataka state by Bank Chairman and MD Mr. HS Upendra Kamath. These centers were opened in villages of the district of Mandya district.
The remainder of 71 branches was spread across the country in Chennai, Delhi, Bhopal, Pune, Udupi, Chandigarh, Mangalore, Kozhikode, Vijayawada, Hyderabad, Kolkata, Hassan and Shimoga.
The bank also opened the doors to three financial literacy and credit counseling centers in Haveri, Dharwad, and Mandya districts. The bank also gave to the above districts and Udupi with a van for spreading financial literacy in the centers.
This brings the bank's total ultra small branches to 191.