Central Bank of India bestowed with Gold award in 30th SKOCH Summit

Central Bank Of India | Bank - Public | BFSI | BSE: 532885 | NSE: CENTRALBK

29 Sep 2012 Evaluate

Central Bank of India has been awarded with prestigious Gold award - the highest independent honour in India for ‘Innovative Urban Financial Inclusion Implementation Model’ in the 30th SKOCH Summit organized at New Delhi.

Central Bank of India has conceptualized Urban Financial Inclusion Centers’ (UFIC) model to be launched across the urban areas in the country, starting with a Pilot in Delhi and NCR. An important aspect of UFIC is decongestion of branches where the walk in customers shall be able to register themselves and transfer money to their relative’s accounts in remote areas up to the value permitted by RBI guidelines.

The bank has taken the above step in response to Government/RBI’s directive for which it has charted out aggressive plans in rural and urban areas to extend affordable banking services to the country’s large population of disadvantaged and vulnerable group of the society.

Central Bank of India was the first Indian commercial bank, which was wholly owned and managed by Indians. Central Bank of India holds a very prominent place among the Public Sector Banks on account of its network of 3,656 branches and 178 extension counters at various centers throughout the length and breadth of the country.