Money Transfer

Vijaya Bank Issued Bonds 

  
MERCHANT BANKING ACTIVITES
 
The major Merchant Banking Activities are:
 
Debenture Trustee Services
 
Banker to Issue
 
ASBA facility for IPOs, FPOs and Rights Issues
 
Demat Services
 
Cash Management Services
Money Transfer Services
§ Western Union Money Transfer
§ Money Gram
§ Xpress Money
§ Remit2India
 
Pension Payments [CPPC]
§ Defence Pension
§ Telecom Pension
§ Central Civil Pension
§ Nation Capital Territory Pension [ NCT]
§ Postal Pension
 
Government Business
Ø Public Provident Fund [PPF]
Ø NPS
§ NPS-Swalamban
§ NPS-Corporate
Ø Senior Citizen Savings Scheme [SCSS]
Ø Relief and Savings Bond
Ø Tax Collection
§ Direct Tax [OLTAS]
§ Indirect Tax [EASIEST]
 
Bancassurance
 
 
 
Banker to an Issue:
·      In terms of SEBI regulation our bank has registered itself with SEBI as Debenture Trustee.-Registration No. INBI00000041
·      As a Banker to an issue the bank is undertaking following activities.
collecting banker (acceptance of application and application monies),acceptance of allotment or call monies
Refund Banker (Refund of application monies)
Paying Banker(Payment of Dividend Warrants/Interest Warrants)
 
 ASBA facility for IPOs, FPOs and Rights Issues
ASBA means “Applications Supported by Blocked Amount”. ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an issue. If an investor is applying through ASBA, his application money shall be debited from the bank account only if his/her application is selected for allotment after the basis of allotment is finalized.
Eligibility : All Resident Individuals, HUF and QIBs having Demat a/c, PAN No. and maintaining Current /SB/Operative Account with any VIJAYA BANK branches.
ASBA facility is available at all our branches. Kindly Contact Nearest branch for more information or contact our Controlling office at:
DP Cell – ASBA Section
Ground Floor, VIJAYA BANK, Head Office
41/2 M.G. Road, Bangalore-560001
Ph -080-25584066, Ext -383
Email Id : mbdasba@vijayabank.co.in
 
v Bancassurance
The Bank is the corporate agent for LIC of India and United India Assurance Company Ltd. The Bank now provides through its all branches total life and non-life insurance solutions to meet all your insurance requirements through the products of India's leading insurers.
 
Life Insurance: Entire life insurance products range of LIC of India are now available through the branches of VIJAYA Bank.
General Insurance:For all your General Insurance needs, you need to look no further than VIJAYA Bank as the products of the leading Indian transnational and reputed general insurance Company i.e United India Insurance Co. Ltd. are now available through all the branches of the our Bank.
 
VIJAYA BANK has also been tied up with Bajaj Allianz Co. Ltd for Suraksha Kavach Yojana a Group Insurance Scheme to cover natural as well as accidental death of key persons of the Business Enterprises and individual borrowers to the extent of regular balance outstanding in the loan accounts.
 
 

* Insurance is the subject matter of solicitation
* All the products offered are through LIC of India, United India Insurance Co. Ltd. And Bajaj Allianz Co. Ltd.
Kindly Contact Nearest branch for more information.
 
Cash Management Services :   
Vijaya Bank provides Local Cheque Collection, Up country Cheque Collection, Bulk Cheque collection and DD Drawing facilities through all branches to corporate clients.
Local Cheque Collection Facility [LCC] :  Under this facility corporate can deposit the cheques with our branches to be cleared in the local clearing and funds will be pooled at any pooling branch designated by the Corporate clients.
Up Country Cheque Collection Facility [UCC] : Under this facility corporate clients can deposit the cheques drawn on outstation centers and proceeds will be pooled at any pooling branch designated by Corporate clients.
Bulk Cheque Collection Facility : Under this facility corporate clients can deposit their bulk (large number) instruments of small value to be cleared in the local clearing and funds will be pooled at any pooling branch designated by the Corporate.
DD Drawing Arrangement : Under this facility corporate clients can draw the Demand Drafts on the branches of Vijaya Bank wherever they do not have branches.
 For more details kindly contact our controlling office
Cash Management Section
Merchant Banking Division,7th Floor
VIJAYA BANK, HEAD OFFICE
41/2, M.G.Road, Banagalore
Ph-080-25584066, Ext – 328
Email Id:cms@vijayabank.co.in
  
 
DIRECT TAX
The Central Board of Direct Taxes Delhi and Reserve Bank of India, Mumbai have permitted our Bank to collect Income Tax and Direct Taxes w.e.f 03.02.1999.
277 branches of our Bank are authorized to collect direct tax. The assessees can pay their Income Tax and Direct Taxes either by traditional physical mode or the online mode through 'e-Payment' Facility in case they maintain Accounts with Vijaya Bank.
The major heads of accounts under which the taxes are collected are:

Sl.sNo.
 
Major Heads
1
Corporation Tax (C.T.)
0020 Corporation Tax
2
Income Tax (I.T.)
0021 Taxes on Income other than Corporation Tax
3
Interest Tax (INT.T.)
0024 Interest Tax
4
Expenditure Tax (E.T.)
0028 Other Taxes on Income and Expenditure
5
Estate Duty (E.D.)
0031 Estate Duty
6
Wealth Tax (W.T.)
0032 Taxes on Wealth
7
Gift Tax (G.T.)
0033 Gift Tax
8
Hotel Receipts Tax
0023 Hotel Receipts Tax

 
(Please click here for viewing the list of Branches authorized to collect Direct Tax)
 
INDIRECT TAX
The Bank is authorized for Collection of Central Excise Duties and Service Tax on behalf of Central Board of Excise and Customs (CBEC) w.e.f 01.03.2007.
30 branches of our Bank are authorized for collection of Indirect tax.
The assessees can pay their Central Excise and Service Tax either by traditional physical mode or the online mode through 'e-Payment' Facility in case they maintain Accounts with Vijaya Bank.
(Please click here for viewing the list of Branches authorized to collect Indirect Tax)
 
Online Payment of Commercial Tax or Sales Tax or VAT
The Bank is presently authorized by RBI and the respective State Governments for Collection of Commercial Taxes or Sales Tax or VAT online in the following 6 States. Bank’s customers can make payment of the above tax using the V Net Banking facility:
o   West Bengal
o   Delhi
o   Tamil Nadu
o   Uttar Pradesh
o   Maharashtra
o   Karnataka
 
Senior Citizen Savings Scheme-2004
The Bank is authorized for Collection of Senior Citizen Savings Scheme w.e.f 14.12.2006.
339 branches of our Bank are authorized for collecting Senior Citizen Saving Scheme.
The salient features of the Senior Citizens Savings Scheme, 2004 are given below
Tenure of the deposit account
5 years, which can be extended by 3 years.
Rate of interest
9.2 per cent per annum
Frequency of computing interest
Quarterly
Taxability
Interest is fully taxable.
Whether TDS is applicable
Yes. Tax will be deducted at source.
Investment to be in multiples of
`1000/-
Maximum investment limit
` 15 lakh
Minimum eligible age for investment
60 years (55 years for those who have retired on superannuation or under a voluntary or special voluntary scheme). The retired personnel of Defence Services (excluding Civilian Defence Employees) will be eligible to invest irrespective of the age limits subject to the fulfillment of other specified conditions
Premature closure/withdrawal facility
Permitted after one year of opening the account but with penalty.
Transferability
Not transferable
Tradability
Not tradable
Nomination facility
Nomination facility is available.
Modes of holding
Accounts can be held both in single and joint holding modes. Joint holding is allowed only with spouse.
Application forms available with
Post Offices and designated branches of 24 Nationalised banks and one private sector bank
Applicability to NRI, PIO and HUFs
Non Resident Indians (NRIs), Persons of Indian Origin (PIO) and Hindu Undivided Family (HUF) are not eligible to open an account under the Scheme.
Transfer from one deposit office to another
Transfer of account from one deposit office to another is permitted.
 
Government of India Bonds
43 branches are authorized to collect Government of India Savings Bonds. Presently only 8 % Savings Bonds (Taxable) 2003 is in vogue.
ELIGIBILITY
The Bonds may be held by an individual, in his or her individual capacity, or on joint basis, or anyone or survivor basis, on behalf of a minor as father/mother legal guardian, a Hindu Undivided Family, Charitable Institutions and Universities. NRIs are not eligible to subscribe.
LIMIT
Minimum Rs. 1000/- and in multiple thereof with no maximum limit.
SUBSCRIPTION
Subscription to the Bonds will be in the form of Cash/Drafts/Cheques or matured Relief Bond/s in the name of applicant/s
REPAYMENT
Repayable on expiry of 6 years from the date of issue.
INTEREST
The present rate of interest is 8% per annum.
TAX BENEFIT
Deposits are exempted from Wealth tax.
 
 
NPS-Swavalamban
Bank is authorized by PFRDA under Registration No. 05212 for PoP (Point of Presence), for a period of 5 years from 09-01-2012 to 08-01-2017.  This enable us to take subscription of the NPS (National Pension System) from all the citizens of the country coming in the age band 18 to 60Years.  Bank is authorised to work as “Aggregator” to open the “Swavalamban” Accounts. 1385 branches are now designated to canvass NPS Swavalamban accounts from the eligible subscribers.
·        A citizen between 18 to 60 years of age who is economically disadvantaged can join NPS- Swavalamban scheme.
·        Person should not be in regular employment with State or Central Government.
  • Swavalamban Yojana is a scheme announced by the Government of India under which Government will contribute Rs. 1000 per year to each NPS-Swavalamban account opened in year 2010-11, 2011-2012, 2012-13 for five years as under:
§ Account opened in 2010-11 will get the benefit till 2014-15.
§ Account opened in 2011-12 will get the benefit till 2015-16.
§ Account opened in 2012-13 will get the benefit till 2016-17.
  • NPS-Swavalamban account opened in the period 2013-14 to 2016-17 will get    the Swavalamban benefit upto 2016-17. The benefit will be available only to persons who contribute with a minimum contribution of Rs 1000 and maximum of Rs 12,000 during a financial year to NPS Swavalamban scheme.
 
 
Money Transfer Service Scheme (MTSS)
Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favoring foreign tourists visiting India are permissible. No outward remittance from India is permissible under MTSS.
 
Our Bank as Sub Agent for money transfer business
Bank is tied up with both UAE Exchange Financial Services Ltd. (UAEEFSL) and Thomas Cook India Ltd.(TCIL) as their sub agent for the Money Gram money transfer service. (Please click here for viewing the list of branches designated to handle money transfer business of Money Gram)
 
A) Money Gram services of UAE Exchange Financial Services Ltd. (UAEEFSL)
 
The branches in the States of Karnataka, Andhra Pradesh, Tamilnadu & Kerala are designated to provide services under UAEEFSL.
 
 
B) Money Gram services of Thomas Cook (India) Ltd.
 
All branches in the country other than the branches in the southern states ie Karnataka, Andhra Pradesh, Tamilnadu & Kerala are designated to provide services under Thomas Cook (India) Ltd.
 
Xpress money
 
Xpress Money is a brand name for the money transfer service of UAE Exchange Centre LLC, Abu Dhabi who is the Overseas Principal. UAEEFSL is the Principal Agent of UAE Exchange Centre for Xpress Money in India.
 
We are also tied up with UAE Exchange and Financial Services Ltd (UAEEFSL) as its Sub Agent for Money Transfer business under Xpress Money
 
All the branches of the Bank are designated to provide services under Xpress Money.
 
Western Union Money Transfer [WUMT] Services
 
Bank has entered as Sub-Agent of Wall Street Finance Ltd a Principal Agent of
M/s Western Union Money Transfer Services – Inc. [USA]. Customers can contact our designated branches. (Please click here for viewing the list ofbranches designated to handle Western Union Money Transfer business )     
 

 

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