Bhopal: Central Bank of India (CBI) is not only providing financial interface to people, but also honouring its Corporate Social Responsibility to uplift society, expressed senior regional manager, Mohan C Samuel, while talking to Free Press.
Mohan C Samuel had joined the bank in 1983, after completing his MSc in agriculture from Jawaharlal Nehru Vishwa Vidyalaya, Jabalpur. He represented the university in football and cricket. After joining the bank he represented the bank team also. He has held responsibilities of Raipur, Ambikapur, Kharasia, Nagpur, Mumbai and Chhindwara branches.
Samuel. The zone is having business of Rs 40,859 crore, deposits of Rs 27,300 crore and advances of Rs 13,500 crore. The current and saving accounts (CASA) are of Rs 12,400 crore. NPA is Rs 1,483 crore. The business of Bhopal region is Rs 11,300 crore, deposits are Rs 7,600 crore and the advances are Rs 3,700 crore. CASA is Rs 2,333 crore.
Samuel. Looking at the rise in NPAs, the government in May promulgated an ordinance to amend the Banking Regulation Act 1949. This allows RBI to initiative insolvency direction for resolution, appoint or approve authorities or committees to advise the banking company for stressed asset resolution. The bank had already referred 12 cases to RBI. The bank has launched the ‘One Time Settlement’ programme up to Rs 20 lakh and the person can get exemptions up to 55 per cent.
Samuel. The bank has launched various programmes for the promotion of technology in banking. Presently in India the bank has around 5,300 ATMs and Bhopal region has 110 of them. For customers, internet banking, CENT mobile app, CENT unified payment interface and BHIM app is there. Reward points have been introduced. Variant cards like wonder card, platinum care Rupay have tailor made solutions for customers. There is also mobile banking –like a bank on the move. A specially designed app is there in which the customer can control the limit of daily expenditure on his debit card. He can pay utility bills, fund transfer through NEFT, RTGS, IMPS services, can find the location of branch and ATMs, avail of online request of cheque book, stop payment and A/C statement. Micro ATMs are being used to carter to the banking needs of the rural folks to enable them to make digital transactions. Brand creation through social media to attract new generation customers is also being done. We are promoting internet banking as our bank has adopted highly secure 256-bit encryption standards. We are participating in digidhan, organising camps at various locations through UPI, spreading 24X7 banking service through ATMs and multi functional kiosks. Android-based and IOS-based M-passbook application has been introduced. CENT mobile application is also available in Hindi to reach out to more customers and wide ATM network.
Samuel. Two centres are running in Hoshangabad and Raisen districts. The bank is not only training people, but also giving them opportunities to establish their enterprise, first with the loan and second by providing them the certificate and not only certificate, but also coordinating with the other banks of their residential area. Till May, 3,062 people were trained at these centres and 2,110 people have been settled. In Raisen, 3,701 were trained and 2,584 have been settled.
Samuel. The Financial Literacy and Credit Counselling (FLCC) is a programme in which the bank people are visiting rural areas and teaching online banking to the non-techno friendly people. They teach how to use ATM and how to keep their PIN safe. They also teach how to save money, like in rural areas people are not aware of banking and its benefits. They are told to save the amount which they spend on liquor, guthka, marriages and others. They are told about small savings and their big benefits.
Samuel. The bank is widely participating in Make in India campaign and providing loans to the Micro Small Medium Enterprises (MSMEs). Till date it has provided loans of Rs 472 crore. As per available statistics (4th Census of MSME Sector), this sector employs an estimated 59.7 million people spread over 26.1 million enterprises. It is estimated that in terms of value, MSME sector accounts for about 45 per cent of the manufacturing output and around 40 per cent of the total export of the country.
Samuel. The bank is providing loans against gold ornaments to farmers and others under its Gold Loan Scheme. Under the scheme, loan up to Rs 20 lakh is provided for meeting medical, education and marriage expenses. The ornaments are mortgaged by the bank. In case of farmers, loans are provided at the interest rate of 7 per cent for up to Rs 3 lakh for agriculture-related expenses. If the loan is repaid in time, farmers get 3 per cent interest subsidy, reducing the effective interest rate to 4 per cent. For others, the interest rate is 10.40 per cent. The amount of loan would be Rs 2,200 per gram for farmers and Rs 2,000 per gram for others. The gold should be of 22 carat purity. The loan will be repayable in the form of demand loan for 18 months and CC limit for five years in case of farmers. For others, the term of the loan would be 12 months. The gold assessment fee of CBI is also less than that of other banks.
Samuel. The bank was established in 1911. Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians. The establishment of the bank was the ultimate realisation of the dream of Sir Sorabji Pochkhanawala, founder of the bank. Sir Pherozesha Mehta was first chairman of the truly ‘Swadeshi’ bank. In fact, such was the extent of pride felt by Sir Sorabji Pochkhanawala that he proclaimed Central Bank of India as the ‘property of the nation and the country’s asset’. He also added that ‘Central Bank of India lives on people’s faith and regards itself as the people’s own bank’. In past 104 years of history the bank has weathered many storms and faced many challenges. It could successfully transform every threat into business opportunity and excelled over its peers in the banking industry.
