Vijaya Bank set to develop 100 digital villages

India’s public sector bank, Vijaya Bank is going to develop 100 digital villages spread across various states of the country.

The move is being undertaken by the bank as a part of its initiative to promote digital banking among the rural population.

Speaking on the development, Executive Director of the bank, B S Rama Rao said that Vijaya Bank is the only public sector financial institution to develop digital villages with a focus on rural areas and it has already developed five villages including the one in Guntur district.

Key Highlights

• The project of 100 digital villages will be inaugurated within a month.

• The digital villages will comprise services such as internet, Wi-Fi connectivity, mobile payment facilities, ATM cards and online banking among others.

• The bank would also be running a door-to-door campaign to educate the villagers.

• It will also open bank accounts to all the eligible villagers including children and encourage them to make transactions digitally.

• The bank’s digital villages project was developed even before the announcement of demonetisation.

• Already, the bank has developed 5 villages into Digital Villages.

• Out of the 100, Andhra Pradesh will be getting 10 digital villages.

About 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 ₹229833 Cr.

• The bank has around 1900 branches across the country.

• It boasts of about 13 lakh mobile banking users and 8 lakh Internet banking users.

• It is the first public sector bank to take up such initiative.

• The bank is further working on financing the metro project of the city.