Vijaya Bank Current Affairs

Vijaya Bank Plans to develop 100 Digital Villages

Vijaya Bank has stated that it plans to develop as many as 100 digital villages in various States across the country as part of its initiative to promote digital banking among the rural population. 

At present, Vijaya Bank is the only public sector financial institution to develop digital villages with focus on rural population. Already, the bank has developed 5 villages into Digital Villages.

In the Digital Villages, the bank would offer Internet, free Wi-Fi connectivity, mobile payment facilities, ATM cards, online banking and will carry out a door-to-door campaign to educate the villagers. 

Vijaya Bank

Vijaya Bank is a public sector bank with its corporate office in Bangalore. As on March 31 2017, the business worth of the bank is estimated to be ₹2,29,833 crore. As on August 2016, the bank has 1900 branches across the country. The bank boasts of about 13 lakh mobile banking users and 8 lakh Internet banking users.

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Charge for SMS alerts on actual usage basis: RBI to banks

The RBI, in its  Second Quarter Review of Monetary Policy 2013-14, asked banks to charge customers for transaction SMS alerts on the basis of usage, instead of imposing a fixed fee, to ensure equity and be reasonable.

In March 2011, the RBI had released guidelines for banks to send online alerts to customers for all types of transactions, irrespective of the amount. However, it had not issued norms on charging customers for these alerts.

Earlier in the year, State Bank of India levied an annual charge of Rs 60 for SMS alerts, a move followed by banks such as Canara Bank. A number of other PSU banks which follow this practice include Punjab National Bank, State Bank of Patiala, IDBI and Vijaya Bank.

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