New Delhi: Central Bank of India has entered into a Memorandum of Understanding (MoU) with IRCON International Limited to provide salary account facilities to IRCON’s permanent employees across its offices throughout India.
The partnership marks another step by the public sector bank towards strengthening its corporate banking relationships and expanding salary account services among employees of major organisations.
MoU to Cover IRCON Employees Across India
Under the agreement, Central Bank of India will facilitate salary accounts for permanent employees of IRCON International across the company’s PAN-India offices.
The arrangement is expected to make banking services more accessible to IRCON employees while establishing a dedicated salary banking relationship between the two public sector organisations.
Key Highlights
- Bank: Central Bank of India
- Partner: IRCON International Limited
- Agreement: Memorandum of Understanding (MoU)
- Service: Salary account facilities
- Beneficiaries: Permanent employees of IRCON
- Coverage: IRCON offices across India
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Officials Attend MoU Signing Ceremony
The MoU was signed by Tarsem Singh Zira, Zonal Head, Central Bank of India, and Mahadeb Mandal, General Manager, IRCON International Limited.
The signing ceremony was attended by senior officials from both organisations.
Representing Central Bank of India were:
- Vikash Purbey, Deputy General Manager
Representing IRCON International were:
- Ms Ragini Advani, Director Finance
- Alin Roy Chaudhary, Chief Financial Officer
- Ms Meenakshi Garg, JGM (F)
Partnership to Strengthen Institutional Banking Ties
Salary account arrangements with large organisations can help banks strengthen their retail customer base while providing employees with access to banking services through an institutional framework.
For IRCON’s permanent employees, the partnership provides a dedicated salary account facility through Central Bank of India across the company’s offices in the country.
The MoU also reflects growing collaboration between public sector organisations operating in the financial services and infrastructure sectors.
Central Bank Expands Corporate Banking Relationships
The latest partnership supports Central Bank of India’s efforts to deepen its relationships with major organisations and expand its salary account services.
By partnering with IRCON International, the bank will extend its salary banking services to the company’s permanent workforce across India.
The arrangement brings together two government-owned organisations in a service-focused institutional partnership.
About Central Bank of India
Central Bank of India is one of India’s established public sector banks, headquartered in Mumbai. The bank provides a wide range of banking and financial services to individuals, businesses and institutions through its extensive network across the country.
About IRCON International Limited
IRCON International Limited is a government-owned engineering and construction company under the Ministry of Railways, Government of India. The company undertakes infrastructure projects across areas including railways, highways, bridges and other transportation-related infrastructure in India and overseas.
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