New Delhi: In a significant development in India’s public sector banking and government financial services ecosystem, Central Bank of India has officially entered into a Memorandum of Understanding (MoU) with the Drawing and Disbursing Office (DAO) under the Ministry of Home Affairs on June 12, 2026. The agreement is aimed at facilitating salary account services for the Ministry’s regular employees across its nationwide offices.
The MoU marks a strategic step toward strengthening banking convenience, payroll management efficiency, and financial inclusion for government employees across India.
Purpose of the MoU: Salary Account Services for MHA Employees
Under the newly signed agreement, Central Bank of India will provide end-to-end salary account opening and management services for employees of the Ministry of Home Affairs.
Key objectives of the partnership include:
- Seamless opening of salary accounts for MHA’s regular employees
- Efficient payroll processing support across PAN-India offices
- Enhanced banking convenience through centralized account management
- Strengthening financial service delivery for government personnel
This collaboration is expected to improve operational efficiency and ensure smoother salary disbursement mechanisms for employees working under one of India’s most critical ministries.
Dignitaries Present at the Signing Ceremony
The MoU signing ceremony was attended by senior officials from both organizations.
The agreement was formally executed by:
- Dr. Ajay Shankar Singh, ICAS, Principal Chief Controller of Accounts, Ministry of Home Affairs
- Mr. Tarsem Singh Zira, Zonal Head – Delhi, Central Bank of India
The event was also graced by:
- Mr. Narinder Pal Singh, ICAS, Controller of Accounts, Ministry of Home Affairs
- Mr. Vikash Purbey, Deputy General Manager and In-charge, Central Bank of India
Senior officials and staff members from both institutions were present, marking the importance of the occasion in strengthening institutional collaboration.
Strengthening Government Banking Partnerships
This MoU reflects a broader trend of public sector banks expanding their footprint in government salary and institutional banking services. By partnering with the Ministry of Home Affairs, Central Bank of India further reinforces its role in providing customized banking solutions for central government employees.
The collaboration is expected to:
- Enhance the bank’s government business portfolio
- Improve employee banking experience across departments
- Support digital and streamlined financial services
- Strengthen long-term institutional relationships
Impact on Employees and Banking Services
Employees under the Ministry are likely to benefit from:
- Simplified onboarding for salary accounts
- Faster salary credit processing
- Access to tailored banking products and services
- Improved customer support through dedicated government banking channels
The initiative also aligns with broader efforts to digitize and modernize financial operations within government institutions.
About Central Bank of India
Central Bank of India is one of India’s oldest public sector banks, offering a wide range of banking and financial services across retail, corporate, and government sectors. With a strong nationwide presence, the bank continues to expand its institutional partnerships and strengthen its role in delivering efficient, secure, and customer-focused banking solutions.
