A recent press report said that the sixth largest PSU Central Bank of India has decided to open a new branches and hence hiring people. According to the report, the concentration will be on branch expansion, hiring young people, leveraging on technology and the global foot print. Thus restoring the position of the bank.
Mr.M.V. Tanksale, the new Chairman and Managing Director said that the Bank will have s focused approach on relationship banking than only transaction banking. And the Bank will also increase the productivity levels in terms of leveraging new technology.
He also said that the Bank is present in 90 per cent of the districts and will be adding 200 new branches across India this fiscal. The bank also plans to open a representative office in Nairobi and Mozambique. Further, the Bank will hire 5,000 personnel including 2000 officers this fiscal and the hiring will be even more in the next fiscal.
The Bank is currently in the third position in terms of branch network with 3,800 branches across India and a presence in Zambia with a total business of Rs.3, 10,000 crores. It offers a variety of personal loan, home loan, education loan, mortgage loans, loans to farmers, business loans etc.
Mr.Tanksale also said that the Bank is planning to introduce new products to its retail customers which are tailor made. One such product will be cent double, wherein the amount of deposit will get doubled in a stipulated time period. He also stated that the Bank is yet to decide on the interest rate and the time frame.