Agartala, Nov 22 (TIWN): Realizing the constantly evolving and diverse needs of its customers, the e-payment portal of commercial taxes for the tax payers of Tripura state, Vijaya Bank today inaugurated a new branch in Agartala. The third branch (Durgachowmohani branch) of Vijaya Bank in Tripura was inaugurated at Ker Chowmohani, here today.

Tripura Finance Minister- Bhanulal Saha after inaugurating the new branch of Vijaya Bank in his speech said that, we need bank branches in every corners of the state. If the banking service reaches to every people of the state, then they will not fall into the trap of different chit-funds to lose their incomes in the name of savings. Admitting the sudden rise of chit-funds in past few years, Saha urged to the state people to keep their funds secure in banks.

On the other hand, Deputy General Manager of Vijaya Bank- Maheswar Rath in his speech explained the activities of Vijaya bank in details. The bank has built a network of over 1513 branches, 50 Extension Counters and 1530 ATMs, that span all 28 states and 4 union territories in the country. Besides, many other dignitaries attended the inaugural ceremony of a new branch of Vijaya Bank.

It is to be mentioned here; at least 92 un-authorized Non-Banking Financial Companies (NBFCs) and chit funds have fled Tripura after illegally collecting huge amounts of money from the people in past few years. According to the report, till March last year, over 117 NBFCs were working in the state. When the state government started taking action against them, 92 chit funds ran away from Tripura without providing maturity amounts to the depositors.

These organisations take deposits from people by promising abnormally high rates of interest from 25 to 30 percent. After collecting the money, they shut down their operations and leave the area. As a result, many of the depositors have lost their way.