The Hindu Business Line : Vijaya Bank to adopt 2 tsunami-hit villages

THE Chairman and Managing Director of Vijaya Bank, Mr M.S. Kapur, is on the lookout for adoptions. In what could spark off a new post-Tsunami adoption spree by the banking sector, Vijaya Bank has decided to adopt a couple of villages in the ravaged areas of Tamil Nadu and the Andaman and Nicobar islands.

"Vijaya Bank has decided to adopt one village each in Tamil Nadu and Andamans. Our support to the villages would be a holistic one to allow the population to revert back to their normal lives as soon as possible," Mr Kapur told Business Line on a visit to the Capital on Monday.

He said that besides meeting the financing needs of the villagers to start off their activities to earn a livelihood, the bank would set up complete infrastructure in these villages including building dwelling units, rebuilding other physical infrastructure such as roads, make provisions for safe drinking water and build primary health centres and schools.

"We plan to develop them into modern villages," Mr Kapur said.

He said that the estimated cost of rebuilding the villages would be in the regionof Rs 4-5 crore each. "This is not the ceiling. We would be ready to provide additional money if we find that it is required at a later stage," the Vijaya Bank Chief said.

He said that the two villages that would be adopted by the bank have not yet been identified. "The villages that we would adopt would have to be decided in consultation with the respecting governments. The involvement of the state governments is absolutely necessary for the success of the adoption plans," Mr Kapur said.

In this connection, Mr Kapur has already had discussion with the officials of the Andaman and Nicobar, including Lieutenant Governor, Prof. Ram Kapse, and Chief Secretary, Mr U.V. Bhat. "Both the L-G and the Chief Secretary were pleased with the lead taken by the bank," Mr Kapur said.

In another related effort, the Vijaya Bank Board has cleared the proposal to set up a trust for collecting funds to help during times of disaster. Mr Kapur said that unlike other individual relief funds that are wound up after some time, Vijaya Bank's disaster fund would be a revolving one. "We would use our own branch network to collect funds for the trust," he said.

The monies collected from the fund would be finally given either to the Prime Minister's Relief Fund or the Chief Minister's Relief Fund of the respective States. "We have prayed to the Income-Tax department for rebate for donations to the trust," Mr Kapur said.

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