New Delhi: Central Bank of India has signed a Memorandum of Understanding (MoU) with West Central Railway (WCR) to introduce its Cent Prestige Salary Package for railway employees across Rajasthan and Madhya Pradesh. The initiative is set to benefit approximately 55,000 employees and strengthen the bank’s CASA (Current Account Savings Account) growth strategy.
The agreement was formalized by Mr. D.P. Khurana, General Manager (Resource), Central Bank of India, and Purnima Jain, Deputy Chief Personnel Officer, West Central Railway.
308 Railway Stations to Be Covered
Under the partnership, Central Bank of India will extend its salary account services to employees across 308 railway stations in the West Central Railway zone.
This large-scale onboarding of salaried employees is expected to create significant opportunities for deposit mobilization and long-term customer engagement in key regions of Rajasthan and Madhya Pradesh.
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Features of Cent Prestige Salary Package
The Cent Prestige Salary Package is specially designed for salaried professionals and offers a wide range of exclusive benefits, including:
- Preferential interest rates on loans
- Overdraft facilities
- Comprehensive digital banking services
- Insurance coverage
- Additional value-added banking services
The package aims to deliver enhanced financial convenience, competitive pricing, and superior banking experience to railway employees.
Strategic Boost to CASA Growth
The collaboration aligns with Central Bank of India’s strategy to strengthen its CASA deposit base, which is a critical driver of low-cost funds for banks.
With around 55,000 employees being onboarded, the bank expects steady salary credits and sustained deposit growth. The initiative also opens doors for cross-selling retail banking products such as personal loans, home loans, insurance, and investment solutions.
Expanding Institutional Banking Presence
This MoU reinforces Central Bank of India’s focus on deepening relationships with government and public sector institutions. By partnering with West Central Railway, the bank enhances its institutional banking footprint while building strong engagement in Rajasthan and Madhya Pradesh.
The agreement reflects the bank’s ongoing efforts to expand its salary account portfolio and strengthen its presence in the public sector ecosystem.
About Central Bank of India
Established in 1911, Central Bank of India is one of the oldest and leading public sector banks in the country. With a wide network of branches and digital banking platforms, the bank offers comprehensive retail, corporate, and institutional banking services. It continues to focus on CASA growth, retail expansion, and strengthening relationships with government and public sector organizations across India.
