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Vijaya Bank ED Rama Rao gets Skoch award
Vijaya Bank Executive Director BS Rama Rao has been awarded Skoch award in category of ‘Banker of Year- NPA Management’ from Skoch Group. Heading recovery management operations, Rao has put in efforts to rein in non-performing assets (NPAs), said Vijaya Bank in a release. The public sector bank is expanding its network in Telangana and Andhra Pradesh.
Bank to open 20 new branches in TS, AP
Hyderabad: Vijaya Bank Executive Director BS Rama Rao has been awarded Skoch award in category of ‘Banker of Year- NPA Management’ from Skoch Group. Heading recovery management operations, Rao has put in efforts to rein in non-performing assets (NPAs), said Vijaya Bank in a release. The public sector bank is expanding its network in Telangana and Andhra Pradesh.
Under Rao’s leadership, Vijaya Bank has been able to reduce its gross NPA to 6.59 percent and net NPA to 4.36 percent during the 2016-17 fiscal. Bank’s NPAs were lowest in the banking industry, which is suffering from mounting NPAs. The release further stated that Vijaya Bank has expanded its network of branches from 100 to 200 in Telangana and AP.
“The bank will open 20 more branches in both the Telugu states during the current financial year,” the bank said in the release.“With an objective of tackling NPAs, Vijaya Bank has set up a ‘war room’ under supervision of Rao at the head office. The war room contacts all the borrowers under NPA and persuades them to close NPA accounts.
SARFAESI (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) accounts were taken up for a logical end till the properties were auctioned. As part of this, the bank introduced several attractive schemes of one time settlement for agriculture and MSME advances,” adds the bank in the release.
Rao has played a vital role in sanctioning loans to Telangana State Urban Infrastructure Development Corp executing major projects such as Mission Bhagiratha, Kaleswaram, Smart City.
By Business Bureau
