CENTRAL BANK OF INDIA

COMPANY PROFILE
Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians, Established in 1911. The establishment of the Bank was the ultimate realization of the dream of Sir Sorabji Pochkhanawala, founder of the Bank. Sir Pherozesha Mehta was the first Chairman of a truly 'Swadeshi Bank'. In fact, such was the extent of pride felt by Sir Sorabji Pochkhanawala that he proclaimed Central Bank of India as the 'property of the nation and the country's asset'. He also added that 'Central Bank of India lives on people's faith and regards itself as the people's own bank'. During the past 100 years of history the Bank has weathered many storms and faced many challenges. The Bank could successfully transform every threat into business opportunity and excelled over its peers in the Banking industry. Key Attributes Central Bank of India claims to be the first bank to be conferred with the National Award for Excellence in Micro and Small Enterprises (MSE) Lending for the year 2007-08. The bank entered a partnership with Kotak Mahindra Assets Management Company in December 2008, under which all the Kotak Mutual Fund products will be made available through Central Bank of India branches.

Corporate Vision To emerge as a strong, vibrant and pro-active Bank/Financial Super Market and to positively contribute to the emerging needs of the economy through consistent harmonization of human, financial and technological resources and effective risk control systems. Corporate Mission To transform the customer banking experience into a fruitful and enjoyable one. To leverage technology for efficient and effective delivery of all banking services. To have bouquet of product and services tailor-made to meet customers aspirations. The pan-India spread of branches across all the state of the country will be utilized to further the socio economic objective of the Government of India with emphasis on Financial Inclusion. A number of innovative and unique banking activities have been launched by Central Bank of India and a brief mention of some of its pioneering services are as under: 1921 Introduction to the Home Savings Safe Deposit Scheme to build saving/thrift habits in all sections of the society. 1924 An Exclusive Ladies Department to cater to the Bank's women clientele. 1926 Safe Deposit Locker facility and Rupee Travellers' Cheques.

1929 Setting up of the Executor and Trustee Department. 1932 Deposit Insurance Benefit Scheme. 1962 Recurring Deposit Scheme. Subsequently, even after the nationalization of the Bank in the year 1969, Central Bank continued to introduce a number of innovative banking services as under: 1976 The Merchant Banking Cell was established. 1980 Central card, the credit card of the Bank was introduced. 1986 'Platinum Jubilee Money Back Deposit Scheme' was launched. 1989 The housing subsidiary Cent Bank Home Finance Ltd. was started with its headquarters at Bhopal in Madhya Pradesh. 1994 Quick Cheque Collection Service (QCC) & Express Service was set up to enable speedy collection of outstation cheques. Further in line with the guidelines from Reserve Bank of India as also the Government of India, Central Bank has been playing an increasingly active role in promoting the key thrust areas of agriculture, small scale industries as also medium and large industries. The Bank also introduced a number of Self Employment Schemes to promote employment among the educated youth. Customers' confidence in Central Bank of India's wide ranging services can very well be judged from the list of major corporate clients such as ICICI, IDBI, UTI, LIC, HDFC as also almost all major corporate houses in the country.

Presence in India Among the Public Sector Banks, Central Bank of India can be truly described as an All India Bank, due to distribution of its large network in 27 out of 29 States as also in 3 out of 7 Union Territories in India. Central Bank of India has a strong presence in the country with over 3000 branches and more than 250 extension counters nationwide as of April 2009. The headquarters of the bank are located in Mumbai, the financial capital of India, along with 16 other zonal offices established in different cities of the nation, including Agra, Ahmedabad, Bhopal, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Lucknow, Mumbai Metro Zonal Office, Muzaffarpur, Nagpur, New Delhi, Patna, Pune and Raipur. Head Office Central Bank of India Chander Mukhi, Narman Point Mumbai 400 021 Website: http://www.centralbankofindia.co.in.

PRODUCT PROFILE
The Various Services and banking Products of Central Bank of India: For Individual and NRI- CBI, it offers wide range of product and services such as saving account, deposits, mutual funds, debit card, credit card, NRI account, Money transfer facility, Remittance facility, various loan facilities, senior citizen account, etc. For Corporates, it offers various products and services such as corporate accounts, loans, RTGS, NEFT, CMS, etc. In order to provide financial assistance in rural, it offers products and services catering its various requirements. It also has two subsidiaries namely Centbank Financial & Custodial Services and Centbank Home Finance. Centbank Financial & Custodial Services provides specialized services and facilities to protect investments and estates during owners lifetime and dispose them according to his will or trust. Centbank Home Finance provides financial assistance for construction, purchase, extension and renovation of house. Deposit Facilities

Cent Uttam type Scheme Cent Tax Saving Deposit MIDR- Monthly Interest Deposit Receipt MMDC- Money Multiplier Deposit Certificate QIDR- Quarterly interest Deposit Receipt Coverage for Personal Accident and Recurring Deposit

Above deposits have been discussed below:

CENT TAX SAVING DEPOSIT

Type of Deposit: An individual or a Hindu Undivided Family (HUF) who is an Income Tax assesse with Permanent Account Number. Mode of Holding: Deposits may be of following types: Single holder type deposits. Joint holder type deposits. The single holder type deposit receipt shall be issued to an individual in personal name or in the capacity of the Karta of the Hindu undivided Family. The joint holder type deposit receipt may be issued jointly to two adults or jointly to an adult and a minor, and payable to either of the holders or to the survivor Provided that in the case of joint holder type deposit, the Deduction from income U/S 80/C sub section 2(XXI) of the Act shall be available only to the first holder of the deposit. Tenure of the Deposit: Fixed period of 5 years. Amount: Minimum: Rs.100/- or multiples thereof. Maximum: Rs.1,00,000/(Rs. One Lac only) in a financial year. Rate of Interest:The rate of interest to be applied to Cent tax Savings Deposit Scheme will be in accordance with the interest rate on domestic term deposits (upto Rs. 15 lacs) applicable to the five-year term.

 Deposit options: Deposit may be in the form of Monthly Interest Deposit/Quarterly Interest Deposit or Reinvestment Plan (Cumulative). Nomination facility: Available as per existing nomination rules. However, no nomination shall be made in respect of a Term Deposit applied for and held by or on behalf of a minor. Term Deposit Receipt: The receipt for such type of Term Deposits will be designed specially, which shall bear the name, address, permanent account number and signature of the depositor(s) etc. in addition to other features. Income Tax Benefits: Investments under this Scheme are eligible for deduction from Income up to a maximum of Rs.100,000/-U/S 80Cof the Act in a financial year. However, the interest accrued or paid in such deposit is taxable and subject to TDS as per existing rules. Premature Payment/Loan Facility: Premature payment and Demand Loan/Overdraft facility is not allowed. The deposit receipt cannot be pledged for any type of loan or as a collateral security for any facility. However, for each of the above deposits and the other kinds of deposits which have been mentioned, there is a long list of rules. One has to go through all of them to understand how the rules and restrictions work.

CENT UTTAM SCHEME

Easy liquidity & high returns-get the best of both worlds Cent Uttam scheme offers you the double benefits of easy liquidity and high returns. It is also a flexible scheme that allows you to withdraw a part of the deposit amount as and when required. Amount of deposit You can deposit a minimum amount of Rs. 5,000/- and multiples of Rs. 1,000/-. At the time of the acceptance of the deposit, the entire deposit will be placed in 'units' of Rs. 1,000/- each, so as to make available each 'unit' for payment at your option. Period of deposit You can open an account for a minimum period of 30 days and upto a maximum of 120 months. Rate of interest The rate of interest shall be the appropriate rate ruling on the date of the deposit for the period so selected. Pass Book You will be provided with a 'Pass Book' under the scheme. If the 'Pass Book' is spoiled/mutilated or lost, a duplicate 'Pass Book' will be issued after observing other formalities and recovering the usual 'Service Charges'. Premature payment You will be allowed to withdraw the 'units' as per your option. Such withdrawal of 'units' are treated as 'Premature Payment'. The rules governing 'Premature Payment' shall be applicable for the particular 'units' so withdrawn. The rest of the 'units' shall remain unaffected in the deposit account and shall carry the 'contracted rate of interest' till its maturity. You will be permitted to withdraw 'units' upto a maximum of 10 times during the entire period of deposit.

Money Multiplier Deposit Certificate (MMDC)

Multiply Your Deposits The interest accrued gets added back to the principal giving you an effective interest rate that is higher than the contracted interest rate. This is an ideal scheme to increase your deposits exponentially. Amount of deposit You can deposit a minimum amount of Rs. 100/- and multiples of Rs. 100/-. Period of deposit You can open an account for a minimum period of 6 months and upto a maximum of 120 months. Rate of interest The rate of interest shall be the appropriate rate prevailing on the date of the deposit for the period so selected. Deposit certificate After opening of the account in the ledger, you will be issued a printed certificate (money multiplier deposit certificate) with full particulars filled in such as Sr. No., Your name, amount of deposit, period of deposit, date of deposit, due date of deposit, interest rate of deposit and maturity value etc. Premature payment Payment before maturity is available as per prevailing rules. Loan/advance against deposits Loan/advance facility is available under the scheme as per Prevailing rules.

Monthly Interest Deposit Receipt (MIDR)

Earn monthly interest without depleting your principal The MIDR scheme provides you with monthly interest earnings, without affecting the principal amount. Amount of deposit You can deposit a minimum amount of Rs. 5,000/- and in multiples of Rs. 1000/-. Period of deposit You can open an account for periods ranging from 12 months to 120 months. Rate of interest The rate of interest shall be the appropriate rate prevailing on the date of the deposit for the period so selected. Certificate / Receipt After completion of formalities you will be issued a printed receipt (Monthly Interest Deposit Receipt) with all particulars filled in as sr. no., your name, amount of deposit, period of deposit, date of deposit, due date of deposit, interest rate and interest payable every month etc. Premature payment Payment before maturity is available as per prevailing rules. Loan/advance against deposits Loan/advance facility is available under the scheme as per prevailing rules.

Recurring Deposit with Personal Accident Cover

Recurring Deposit Scheme with free personal accident cover being provided by Central Bank of India in association with Cholamandalam M S General Insurance Company. Details of the Scheme are as under:Recurring Deposit with Personal Accident Cover Eligibility: Accounts opened singly / jointly on or after 01.12.2009 Monthly Installment: Minimum Rs 500/Period: Maturity period of two years and above Rate of interest: As applicable to RD Scheme Sum Assured: Double the maturity value rounded off to the nearest thousand rupees subject to minimum of Rs.25,000 and maximum of Rs.5,00,000/- per RD a/c. Age of the account holder:Not exceeding 65 year as on the date of opening of the account. Joint Accounts: In case of joint accounts, PA Insurance Cover is given only on the life of the first named person. Multiple Accounts: In case of multiple accounts, the coverage will be allowed per person for one RD a/c only, irrespective of the number of RDs he/she has with one or multiple branch of our Bank, in same or different period.

Payment of instalments: Regular payment of monthly instalments is a precondition for insurance cover. Rate of interest: As applicable to Recurring Deposit accounts. Policy Certificate: The Insurer will not provide certificate of insurance to individual customers. Others:All other terms and conditions applicable to RD Scheme of the Bank are also applicable to this Special Scheme. Effective Date/ Risk Start Date: The policy shall commence on the Effective Date i.e. date of opening of Recurring Deposit a/c. Limitation of Liability: In the event of accidental Injury resulting into death of the Insured Person, the total benefit payable will be limited to amount stated in the schedule. Cholamandalam MS (Insurer) maximum liability however should not be more than 100% of the Principal Sum. Claims Notification: It shall be a condition precedent for any claim to be made by the Insured under the policy or for liability attaching to Insurer hereunder that written notice of claim must be given to Insurer immediately upon the occurrence or commencement of any loss, or as soon thereafter as reasonably possible, and in any event not later than 40 days of such occurrence or commencement. Time For filing Claim Forms & Evidence: Completed Claim Form with written evidence of loss must be furnished to Cholamandalam MS within thirty (30) days after the date of such loss. Failure to furnish evidence within such time as required shall not invalidate or reduce the claim if the insured satisfies that it was not reasonably possible to do so within such time. In any event, no proof furnished beyond one (1) year from the date of loss shall be accepted

List of documents Following documents are required in respect of the accident leading to death i.Duly completed Claim form by the nominee ii.Death Certificate iii.Post Mortem Report/Coroner's report iv.FIR / Police Report /Inquest Report v.Certificate from the bank confirming the validity of the account. Payment of Claims All Claims under the policy shall be payable in Indian currency and to Registered Nominee of Recurring Deposit a/c (Nomination registered with the Bank). The same shall be made after confirmation from Central Bank of India. Any claim paid by the Insurer and received will discharge the Insurer from any further payment for the same claim. All payment made in good faith will discharge to the extent of such payment. If the circumstances of death/contingency are doubtful,

Cholamandalam MS may appoint an investigator to verify the authenticity of the accident. Cancellation of Cover The policy may be cancelled by mutual consent by giving 30 days written notice either by Cholamandalam MS or by Central Bank of India. Termination of Policy The expiry date of the policy, In case of death of the Insured , Any claim paid up to the Principal Sum Insured.

Savings Account with Personal Accident Cover

Name of the Scheme: Cent Savings Plus Account Applicability: Savings Accounts opened on or after 10th June 2010 but before 31st March 2011 in CBS branches of Central Bank of India Type of Insurance Coverage: Personal Accident cover for death only Eligibility Individuals- Single Accounts , Joint Accounts However, only Principal Account Holder (First account holder) is covered under personal accident insurance. Minimum Balance Requirement Minimum Average Quarterly Balance (AQB) maintained in the account should be Rs.10,000/-to qualify for insurance cover Age of Account Holder Principal Account Holder (First Account Holder) should be aged between 18 years (completed) and 65 years. In case of accounts of minors, the guardian will be covered provided he/she is aged between 18-65 years. Multiple Accounts Scheme is not applicable for multiple accounts of Principal Account Holder. The Insurance cover is allowed only to one SB account of Principal Account Holder irrespective of the number of SB accounts he/she opens, either in one or multiple branch/es.

Sum Assured: Rs 1,00,000/- only, irrespective of the balance saving account. Nomination facility In the event of unforeseen demise of the Principal Account Holder, claim amount on settlement shall be paid to the nominee/s or legal heirs, as the case may be, on completion of the required formalities. Policy Period: One year from the date of account opening. Bank may consider continuing the scheme at its discretion. Payment of premium:To be borne by the bank. Insurance Cover Insurance Cover is available for accident which means a sudden, unforeseen and unexpected physical event caused by external, violent and visible means. The insurance is provided under the Group Insurance Scheme from declared Risk Start Date by the Bank. No individual certificate will be provided to the customer. Penalty for not maintaining minimum balance in the account A penalty of Rs.100/- will be charged per quarter for not maintaining a minimum quarterly average balance of Rs 10,000/-. Further, if the customer fails to maintain the minimum average balance of Rs 10,000/- for three consecutive quarters, the insurance cover will lapse. Settlement of claims Insurance Company reserves the right for admission/rejection of claims. Further a claim is liable to be rejected in case of incomplete submission of documents and/or misrepresentation/ suppression of material facts.

Cards Facilities Central Bank of India offers different kinds of card schemes, which have been discussed below: Central card Scheme: There are different merchandise establishments all over the country. With the central card you can go for shopping in those places. But remember, the offer is valid only in India and in any part of India. For an internal facility, you have to use the International Central Master Card. Central card Electronics Scheme: The various terminals of master credit cards, you can use the Central bank type credit card which will be accepted. However, it is also accepted in Nepal. This means the card is acceptable for both domestic and also global purposes. Debit Card Scheme: Use the Central Bank debit card and you have access to about a total of 5.3 millions total merchandise establishments. The card is usable for 24 hours a day and provides the most secure way of accessing your account anywhere you are in the world. There are about 6 million ATMs thus allowing you access to any of them without any hassle. Hence it can be added that the credit card schemes are most convenient and full of privileges especially when offered by Central Bank of India. Loans Facilities

Education Loans Housing loans Special educational type Loans Car Loans Agricultural Loans Loans for Teachers and Pensioner

Trade Loans Computer Loans Car loans Hence, it can be said that different people from walks of life can benefit from the loans. Other Kinds of Services:

Cash management services Travelers Cheque Cent Bill pay Special services Gift Cheques Mutual Funds Depository Service E-payment Services:

West Bengal State Govt Tax Online Bill Payment Collection of Direct taxed Service Tax Payments DGFT Online E-payment Net Banking Services Since Central bank of India caters net banking services. Therefore you can avail all the above services by logging onto websites and into your banking account. This will help you to retrieve information regarding any kind of service that you feel

like. Besides, you get a great deal of information on stock price, issue price, share value, share price, stock price. Therefore you can use that information from the comforts of your home. You can also make out any kind of enquiry regarding allotment status, money control, recruitment procedure, IPO fund and much more. Central bank of India entails a lot of informative services that help in every individuals financial growth.

SWOT ANALYSIS OF CENTRAL BANK OF INDIA

This comprehensive SWOT profile of Central Bank of India provides you an in-depth strategic analysis of the companys businesses and operations. The profile has been compiled by company to bring to you a clear and an unbiased view of the companys key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better. 1.Large network across India 2. Expertise in small and medium enterprise banking 3. Active in Government schemes for agro based and small scale industries 4. The bank has 3,500 branches and 270 extension counters Strength across 27 Indian states 1. Personal banking in growing stage 2. Less international presence Weakness 3. Low advertising and brand presence 1. Initiative for self-employment amongst youth Opportunity 2. Favorable Government schemes 1. Fluctuating economic scenarios 2. Highly competitive environment Threats 3. Policies of the government

FINDINGS

1. It has large network across the country. 2. It provides good and useful baking services to the public from the last 100 years. 3. Expertise in small and medium enterprise banking. 4. Active in Government schemes for agro based and small scale industries. 5. It has different good deposit facilities. 6. It provides Personal Accident Cover to the depositor in Recurring Deposit and Savings Account. 7. It provides Loan to the various sectors. 8. It has E-payment and Net Banking Service facility.

CONCLUSION

CENTRAL BANK OF INDIA is doing quite well in these days due to good image and good reputation from customer. Image and Reputation is gained mainly through providing good and ample services to the customer. Any organization to survive in long run, has to keep its customer satisfaction very high .Unless the customers are satisfied, they will not support any organization. Central Bank of India exist since 1911, So it is clear that, it satisfies the customer according to their needs and wants. It is good opportunity to me to study about Central Bank of India, and to gain sufficient knowledge about the various functions performed by bank to satisfy the customer and also to know various facilities provided by the bank to the customer.