West Central Railway (WCR) and the Central Bank of India have signed an MoU so that railway workers in Madhya Pradesh and Rajasthan can get the Cent Prestige Salary Package.
Central Bank of India General Manager (Resource) D.P. Khurana and West Central Railway Deputy Chief Personnel Officer Purnima Jain formalised the agreement. As part of the agreement, the bank will provide its salary account services to workers at all 308 West Central Railway stations. Nearly 55,000 workers will reap the benefits of the programme.
Designed with paid workers in mind, the Cent Prestige Salary Package provides a number of perks, including discounted loans, overdraft protection, digital banking capabilities, insurance coverage, and more. Through its CASA (Current Account Savings Account) initiative, the Central Bank of India hopes to increase its influence in institutional banking and open up new avenues of opportunity through this partnership.
This collaboration offers long-term deposit mobilisation potential and cross-selling opportunities across retail banking products, thanks to the big and geographically scattered employee base. This deal bolsters the bank’s plan to strengthen ties with public sector organisations and the government. With the addition of a sizable salaried group, the bank hopes to strengthen its low-cost deposit base and boost customer engagement in strategic regions like Madhya Pradesh and Rajasthan.
As part of its larger goal for retail and institutional growth, the Central Bank of India is still committed to increasing the number of salary accounts it offers.
