| Last Modified : Apr 30, 2008 5:29 PM |
investor relations
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| Investor Relations |
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FAQs on Investor Relations |
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Matters related to Public Issue:
All correspondence in regard to public issue should be addressed to the Registrar to the
issue quoting full name of the first applicant, serial No. of the application form, No. of shares
applied for, and name of the Bank branch where the application was lodged, at the following
address:
M/s Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound,
LBS Road, Bhandup West,
MUMBAI - 400 078
Tel: 022 - 2596 3838
Fax:022 - 2594 6969
e-mail: isrl@intimespectrum.com
In case any shareholder has not received satisfactory reply to his/her
complaint, please write to :
Shri. K. Gopalakrishnan Nair,
Company Secretary,
Vijaya Bank, Board Secretariat,
Head Office, 41/2, M.G. Road ,
Bangalore -560001.
Telefax : 080 - 25594737
Phone : 080 - 25584066 - Extn.271
e-mail : sdigc@vijayabank.co.in |
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FAQs On Shares Division & Investor Grievances Cell Pertaining To
AGM
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1.
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Whether the Balance Sheet of the Bank is required to be approved in the AGM by the
Shareholders?
In terms of Amendment to Section 10 (A) (2) of the Banking Companies (Acquisition
& Transfer of Undertakings) Act, 1980, the shareholders are entitled to discuss, approve
and adopt the Balance Sheet, Profit & Loss Account, Report of the Board of Directors on the
working and activities of the Bank for the period covered by the accounts and the Auditor’s Report
on the Balance Sheet and accounts.
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2.
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Whether the shareholders present in the AGM can transact any business other then
discussing, approving and adopting Balance Sheet, Profit & Loss A/c, Director’s and Auditor’s
Reports?
In terms of Section 10 (A) (2) stated above, any other matter can be discussed with the
approval of the Chairman.
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3.
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Whether the shareholders have right to obtain copy of the Minutes of the AGM?
The Minutes of AGM is required to be kept at a place as directed by the Board. It is proposed
to keep the Minutes of the AGM at the Bank’s Head Office and will be open for inspection by the
shareholders. Request for a copy of the Minutes will be considered.
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4.
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Whether payment of dividend is required to be approved by AGM?
Dividend requires to be recommended by the Board of Directors of the Bank and same has to be
approved by the shareholders at the AGM.
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5.
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Why does Bank depend on an outside Registrar and Transfer Agents?
The work of Registrar and Transfer Agent is highly specialized. Our Bank floated its maiden
public Issue in November, 2000 and follow on public issue in October 2003 and is gaining valuable
experience in the area of investor servicing, compliance as listing agreements, SEBI regulations,
etc. The Bank can think of an in house transfer Agent’s work only at a later stage subject to
having necessary expertise, cost benefit and interest of investors.
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6.
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What is the Bank doing to detect forged share certificates?
The Share Certificates printed by the Bank contain a set of security features which are
scrutinized by Share Transfer Agent whenever the shares are received for transfer to guard against
forgery, etc. Further, Bank has taken insurance policy to guard against such forged
transfers.
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7.
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What is the Bank’s market capitalization and how does it compare with
others?
The present market price is about Rs.90.00 per share. It will not be proper to compare the
market capitalization of the Bank’s scrip with other scrips. Our share value shows an upward trend
now.
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8.
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What is the Earning per share (EPS) of the Bank?
The Current EPS is Rs.8.33 as on 31.03.2008
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9.
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Why no gifts/gift coupons are distributed at the AGM?
No gifts/ gift coupons have been distributed at the AGM having regard to the Government of
India guidelines.
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10.
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Will the Bank raise the rate of dividend for the subsequent years?
Dividend payment as the shareholders appreciate, requires to be considered on year to year
basis depending upon the bottom line, capital base, profit, etc. Hence, it will not be proper to
commit about the dividend payments for subsequent years.
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11.
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Any special facilities are extended to the Bank's shareholders?
In respect of loans or deposits, no special facilities are available for the Bank’s
shareholders like lower margin, preferential rate of interest, concessional rates for remittance,
etc, as these may be viewed as discriminatory.
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12.
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What is the arrangement made by the Bank for redressal of investor of investor
grievances?
The Bank has established a Shares Division and Investor Grievances Cell (SDIGC) at H.O.
We have engaged the services of M/s Intime Spectrum Registry Limited, Mumbai, as registrar and Share Transfer Agent of the
Bank. The redressal of complaints is done by M/s Intime Spectrum Registry Limited. However, the
complaints /requests received by us directly from the shareholders are forwarded to M/s Intime
Spectrum Registry Limited and the follow up of redressal is monitored every fortnight to ensure
that no complaints remain unattended. The Share Transfer Agent is submitting a monthly report on
the status of complaints
/ requests. Most of the requests / complaints received at present are for change of
address and for non receipt of dividend warrants. For payment of dividend warrants we have
implemented ECS facility in centers with large number of shareholders at present and this will be
implemented in other centres too in future. We request all the shareholders to avail the ECS
facility.
In case any shareholder has not received satisfactory reply to his/her complaint, please write
to the Company Secretary, Vijaya Bank, Head Office, 41/2, M.G.Road, Bangalore-560001. Phone: 080 – 25584066- Extn.271, Telefax: 080
-25594737.
e-mail: sdigc@vijayabank.co.in
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13.
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What is the share holding pattern of Bank’s equity?
As on 31.03.2008 the shareholding pattern of the Bank is as follows:
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| Sno. |
Name |
Amount |
Percentage of Holding |
| 1. |
Government of India |
23,35,17,800
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53.87
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| 2. |
Mutual Funds & UTI |
29,84,945
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0.69
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| 3. |
Banks, Financial Institutions, Insurance Companies (Central / State
Institutions/Non-Governments Institutions) |
3,24,12,715
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7.47
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| 4. |
Indian Public |
8,40,99,739
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19.40
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| 5. |
NRI/OCB |
20,15,329
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0.47
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| 6. |
FII |
6,45,62,283
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14.89
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| 7. |
Private Corporate Bodies |
1,39,24,989
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3.21
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| 8. |
Total |
43,35,17,800
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100.00
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14.
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How is the Board of Directors constituted?
The Board of Directors is constituted under section 9 (3) of the Banking Companies
(Acquisition & Transfer of Undertakings) Act, 1980 as follows:
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9 (3)(a) |
Two whole time Directors. (Can be increased to four by Government of India). |
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9 (3)(b) |
One representative of Govt. of India |
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9 (3)(c) |
One representative of RBI |
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9 (3)(d) |
One workmen representative |
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9 (3)(e) |
One Officer representative |
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9 (3)(f) |
One Chartered Accountant |
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9 (3)(g) |
Two other directors nominated by Government of India |
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9 (3)(h) |
Three shareholder directors |
A director to be nominated under Section 9(3) (h) or to be elected under Section 9(3) (i)
shall have:
a. Special knowledge or practical experience in respect of one or more of the
following matters:
i. Agriculture and rural economy
ii. Banking
iii. Co-operation
iv. Economics
v. Finance
vi. Law
vii. SSI
viii. Any other matter, the specialized knowledge or
and practical experience in which would in the opinion of the RBI, be useful to the new Bank.
b. Represent the interest of depositors or
c. Represent the interest of the farmers, workers and artisans.
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15.
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How many directors can be elected by the shareholders?
Since public shareholding is more than 32%, number of shareholders’ Nominee Directors that can
be appointed is three.
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16.
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What is the procedure for convening the AGM, publication of accounts and dividend
payment?
Section 29 of the Banking Regulation Act 1949 – the Balance Sheet and Profit & Loss
Account is to be submitted to Reserve Bank of India and Government of India within 3 months of the
end of the financial year.
Section 10 (a) (1) of Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980
– AGM should be convened within six weeks of submission of audited accounts to Government of India
or Reserve Bank of India whichever date is earlier.
In terms of the Clause 41 of the Listing Agreement, Notice of AGM along with audited accounts
is to be served to all the shareholders at least 21 days before the date of AGM.
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17.
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What are the advantages to shareholders in holding shares in dematerialized forms?
i. It eliminates bad delivery
ii. Transfer of security is effected immediately
iii. No stamp duty is payable for transfer of shares
iv. No market lot for demat shares
v. It eliminates the need to handle large volume of physical certificates
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18.
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What is the dividend policy of the Bank?
To enhance shareholders value by balancing dividend payout with reserve creation based on
conservative accounting standards.
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19.
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How long does the bank take to issue duplicate share certificates?
On receipt of shareholders’ requests, our share transfer agents mails questionnaire,
indemnity, affidavit and surety forms. On submission of these documents, bank issues advertisements
in newspapers and waits for 15 days for objections, if any. Following this, duplicate share
certificates are issued after approval from the Board of Directors. The process takes six weeks
after receipt of documents in correct form.
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20. |
What portion of Bank’s equity has been dematerialized now?
As on 31.03.2008 out of 20,00,00,000 shares issued to the public, 16,95,26,809 (84.76%) are in electronic form. Bank has dematerialized its shares with
National Securities Depository Limited and Central Depository Services Limited.
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21. |
In which all Stock Exchanges Bank's shares are listed?
We have listed our shares in Bangalore, Mumbai and National Stock Exchanges, and our shares
have normal liquidity. Trading of shares are done only in demat form.
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22. |
Why does the Bank charge Rs.50,OOO/- to the share holders who desire to have copy of list
of shareholders?
We have more than 2,46,000 shareholders spread over different parts of the country and as per
SEBI guidelines it is necessary that the list is to be provided in hard copies. The amount charged
is towards the cost of printing and stationary. It is clearly stipulated in clause 64 of Vijaya
Bank General Regulations that the list of shareholders shall be made available for purchase to
shareholders at a price fixed by the Board. We have enquired with other public sector Banks, who
too charge similar amount for the list of shareholders. Hence the amount of Rs.50,000/- is
charged.
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23.
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How many shareholders Bank do have at present?
As on 31.03.2008, Bank has 2,63,948 shareholders.
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24. |
What is the quorum required for conducting the proceedings of AGM?
As per Vijaya Bank General Regulations, 1998, a minimum of five shareholders entitled to vote
at the meeting, if present in person at the time of commencement of the meeting, constitutes the
quorum of the meeting.
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25.
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How many shareholders were paid dividend through ECS?
For the year 2006-07 Bank paid final dividend of Rs.14,00,79,262/- to 69,823
sharesholders through ECS.
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26.
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What is the position of shareholders' complaints to R& T Agent, Bank and SEBI
now?
As on 31.03.2008 no shareholders’ complaints are pending with the Bank, R & T Agent or
SEBI.
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