The Central Bank of India has launched an innovative Immune India Deposit Scheme. A unique feature of the scheme is 25 percent extra interest to depositors who are vaccinated.
The scheme was launched to give a boost to the government’s Covid-19 Vaccination programme. Immune India Deposit Scheme has a maturity of 1,111 days and senior citizens are eligible for extra interest as applicable. The scheme is a Term deposit in nature with an option of interest payment at Monthly, Quarterly, Half Yearly or cumulative type. Under the scheme, premature withdrawal is allowed and the applicable rate of interest for the period of deposit will be paid, subject to prevailing rules on premature withdrawal. Scheme End date The Scheme is for a limited period and up to December 31, 2021.
Information about various schemes came to light during the visit of the Executive Director, Central Bank of India, Rajeev Puri. He detailed the facilities to support economic growth for people to come out from financial crunch and losses due to Covid-19. He addressed a press conference during his visit with the motto “Customer service is nation’s service”. V.V. Natarajan, Field General Manager, Zonal Office Chandigarh, Arvind Kumar, Senior Regional Manager, Regional Office Chandigarh, S.S.Mathur, Regional Manager Shimla and Dheeraj Goel, Regional Manager, Rohtak were also present and assured to comply the instructions given by higher authorities for Business Promotion while strictly following the Covid Guidelines issued by the Government of India.
A Customer Meet was also organized under the Chairmanship of the Executive Director Rajeev Puri. According to the Central Bank of India, the Bank has launched the Cent Pragati Scheme from Rs.1 crore to Rs.25 crore. For existing firms for the last 3 years , at Lowest ROI at the rate of 7% for MSME borrowers including Food & Agro Processors. No External Rating is required.
The Bank has also launched Cent Umang Campaign to benefit MSME Customers with Low ROI of 7 % based on credit history. Also Retail Monsoon Jackpot Campaign has been launched for retail customers by giving complete waiver of processing.
In view of the pandemic situation, Bank has initiated a Missed Call facility so that Bank service can be reached to customer`s door with a single missed Call. For Deposit schemes the Bank is having Number 9223502222. For Credit facility, the Number is 9223901111. Also Door Step Banking services have been started to benefit the customers. To boost credit growth in Retail and MSME sectors, the Bank has started Co-Lending with IIFL, Edelweiss, India bulls and Dhanwarsa Finest.
The bank also stood tall during Covid-19 and served each customer while those employees who had unfortunately lost their lives due to Covid. The Bank has launched the CPAC Model to empower branches to provide speedy disposal of credit services to borrowers. It has made additions to its digitalization services to provide quick services to customers. The Bank has planned to raise the number of Banking Correspondents from existing 7,000 to 15,000 in view of strong presence in rural and semi-urban areas.