Financial Daily from THE HINDU group of publications
Friday, Sep 17, 2004
Financial Daily from THE HINDU group of publications Friday, Sep 17, 2004 |
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Money & Banking
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Public Sector Banks Vijaya Bank sets up risk management unit Our Bureau
Bangalore , Sept. 16 THE public sector Vijaya Bank has put in place a risk management department to contain asset liability and market risks. Speaking at the FICCI conference on banking, Mr M.S. Kapur, Chairman and Managing Director of Vijaya Bank, said the bank had also started entry-level screening of large borrowal proposals by the top management to contain risk of non-performing loans. As part of these measures, it has put in place a core banking solution, which included anti-money laundering measures. Vijaya Bank had already reached 85 per cent computerisation, he said. The bank had also set up separate compliance cells, Mr Kapur said. These cells would monitor all its risk management procedures and ensure that they were complied with by all departments, he added.
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