Page 32 - BANKING FINANCE JANUARY 2016 ONLINE

PRESS RELEASE

United Joint Liability Group Loans- JLG registers the group online . The customer has the
Loans convenience of withdrawing the loan amount at the Bank
Mitra Point without even visiting the Bank Branch.
This service is available to existing United Bank of India
customers having an account with Bank Mitra in the village The Bank Mitra also conducts weekly meeting of the group
whereby small ticket loans up to Rs. One Lakh is provided and collects the weekly repayment installments at the
to customers under a Joint Liability Group without any village itself from the members of the group after
collateral. authenticating each member through the biometric based
device held by the Bank Mitra.
Homogenous groups of 5 to 7 customers can come together
and create a Joint Liability Group where each member of This provides the flexibility and convenience to the group
the group vouches for each others liability. members to avail loan at a lower rate than what is charged
by MFI without the hassles of visiting the Bank Branch for
The Bank Mitra is to verify the credibility of the group and either receiving the loan amount or for repayments.

Vijaya Bank bags DSCI Excellence Awards 2015

DSCI instituted the DSCI Excellence Awards in 2011 in line
with its mission, to create trustworthiness of Indian
companies where privacy and protection of customer data
are enshrined in global best practices followed by the
Industry segments like Banking, Telecom and e-Governance.
Through the Corporate Segment DSCI recognizes, honor and
reward organizations who have undertaken strategic,
proactive and innovative security and privacy measures. It
also helps to highlight the importance of the security function
and its contribution to business. The Excellence Awards is in
their fifth year now. The award is one of the most prestigious
information security and privacy award in India.

DSCI Award committee has screened four public sectors banks
as finalists which included reputed and biggest bank of country among all the applications received. The Eminent jury
has evaluated the finalists banks and selected Vijaya Bank as winner in "Security in Banks" category.

The Award was received by General Manager (Risk Management) on behalf of the Bank at Delhi during the 10th
NASSCOM-DSCI Annual security Summit JW Marriott, Delhi.

BHEL wins Award for Best R and D and Innovation

Bharat Heavy Electricals Limited (BHEL) has won the India Today Award 2015 for Best R&D and Innovation in the
Maharatna category. The award was jointly received by Mr. Atul Sobti,
Director (Power & Finance) and Mr. Subrata Biswas, Director (E, R&D)
from Mr. Piyush Goyal, Hon'ble Union Minister of State (Independent
Charge) of Power, Coal and New & Renewable Energy, in the presence
of Mr. Ravi Shankar Prasad, Hon'ble Union Minister of Communications
& Information Technology. BHEL is the largest spender on R&D among
large engineering companies in India, with an expenditure of more than
2.5% of its turnover and engages more than 700 engineers in R&D
activities at its Corporate R&D Division and various manufacturing units.
Nearly 20% of its annual turnover comes from in-house developments
introduced in previous five years.

32 | 2016 | JANUARY | BANKING FINANCE

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