Mumbai: Central Bank of India has signed a Memorandum of Understanding (MoU) with the Indian Coast Guard to manage salary accounts for the Coast Guard’s permanent personnel across India.
The agreement formalises the bank’s role in providing salary account-related banking services to Indian Coast Guard personnel posted at various locations across the country.
Central Bank of India, Indian Coast Guard Sign MoU
Under the MoU, Central Bank of India will provide salary account services to permanent personnel of the Indian Coast Guard.
The partnership is intended to facilitate banking services connected with the monthly salary of Coast Guard personnel and strengthen institutional banking support for the organisation.
The arrangement will cover permanent Indian Coast Guard personnel serving across different locations in India.
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Senior Officials Attend MoU Signing
The MoU was formally executed by senior representatives of both organisations.
The agreement was signed by:
- Tarsem Singh Zira, Zonal Head, Central Bank of India
- Narendra Singh, TM, Principal Director (Administration), Indian Coast Guard
The signing ceremony was also attended by:
- Vikash Purbey, Deputy General Manager, Central Bank of India
- Senior representatives from Central Bank of India and the Indian Coast Guard
The presence of senior officials from both organisations marked the formalisation of the banking partnership.
Salary Account Services for Coast Guard Personnel
As part of the arrangement, Central Bank of India will handle salary accounts for permanent personnel of the Indian Coast Guard.
Salary account services can facilitate banking requirements linked to monthly salary payments, including:
- Salary credit facilities
- Account-related banking services
- Access to associated banking products
- Service and customer support
The partnership is expected to provide a structured banking arrangement for Coast Guard personnel serving at different locations across India.
Partnership Strengthens Institutional Banking Engagement
Central Bank of India described the MoU as a step reflecting its continued engagement with uniformed forces and its focus on strengthening institutional banking relationships.
The collaboration brings together the banking services of Central Bank of India and the personnel requirements of the Indian Coast Guard through a formal salary account arrangement.
The MoU also marks an expansion of the bank’s institutional engagement with a key maritime security organisation.
About Central Bank of India
Central Bank of India is one of India’s oldest commercial banks and a public sector bank headquartered in Mumbai. Established in 1911, the bank provides a wide range of banking and financial services through its extensive network of branches and digital channels across the country.
