A recent press reports said that Central Bank of India has signed a Memorandum of Understanding (MoU) with the National Skill Development Corporation (NSDC) in order to promote loan and finance vocational education.
The MOU was signed by Mr S. Sridhar, Chairman and Managing Director, Central Bank of India, and Mr Dilip Chenoy, CEO and Managing Director, NSDC, in the presence of the Union Finance Minister, Mr Pranab Mukherjee.
According to the MoU, Central Bank of India will provide finance for youth pursuing skill development and vocational training with Partner Training Institutes of the NSDC, which will provide partial support. Reports also said that Talent Sprint, Hyderabad, which is involved in professional skill development in IT and BFSI sector, was the first to be financed under this programme.
Finance Minister, Mr Pranab Mukherjee, laid the foundation stone for a zonal office building of Central Bank of India in the capital. He said that there was a need for the skill development among the youth if the country needs to reap the benefits of demographic dividend.
The new building is to be named as “Sorabji Bhavan”after the founder of the bank, Sir Sorabji Pochkhanawala.