Value Industries has received an approval to file an application with Reserve Bank of India (RBI) for opening a Bank, in terms of the Guidelines dated February 22, 2013, issued by RBI for obtaining Banking License in the name of the company. The board of directors of the company at its meeting held on June 28, 2013 has approved for the same.
Value Industries is formerly known as Videocon Appliances. The company’s principal activity is to manufacture and market a wide range of electrical and electronic products, which includes air-conditioners, refrigerators, programmable washing machines and assemblies and sub-assemblies.