Mumbai: Central Bank of India has signed a Memorandum of Understanding (MoU) with Northeast Frontier Railway to introduce Cent Prestige Salary Accounts for railway employees, aiming to enhance banking services and financial convenience for staff.
The initiative is part of the bank’s strategy to strengthen institutional partnerships and expand its salary account portfolio across government organizations.
MoU Signed by Senior Officials from Both Sides
The agreement was formally signed by senior representatives of both organizations.
Central Bank of India representatives:
- Kavita Thakur, Chief General Manager
- Rajat Mishra, Zonal Head, Guwahati
Northeast Frontier Railway representative:
- Mustak Ahmed, Deputy Chief Personnel Officer (HQ & IR)
The ceremony was also attended by Bachan Das, Regional Head, Guwahati, along with other officials.
Read also: Central Bank of India and NBCC Join Hands for New Regional Office Development in Amaravati
Cent Prestige Salary Account Benefits for Railway Employees
Under this collaboration, employees of Northeast Frontier Railway will receive premium banking benefits, including:
- Preferential banking services and customized offers
- Easy salary credit and account management
- Access to specialized loan and insurance products
- Digital banking facilities with priority support
The account is designed to provide a more seamless and employee-friendly banking experience.
Strengthening Banking and Railway Sector Collaboration
The partnership reflects a growing trend of public sector banks forming institutional tie-ups with large government bodies.
Key objectives of the collaboration:
- Improve financial inclusion among railway employees
- Expand banking services in the northeastern region
- Strengthen long-term salary account relationships
- Enhance digital and retail banking penetration
Industry experts see this as a strategic move to build stable and long-term customer bases within government institutions.
About Central Bank of India
Central Bank of India is a leading public sector bank in India offering a wide range of retail, corporate, and institutional banking services. The bank continues to expand its presence through strategic partnerships and customer-centric financial solutions across the country.
