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Central Bank of India launches SMS alert services

By SiliconIndia  |   Monday, 06 July 2009, 23:29 Hrs   |    5 Comments
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Bangalore: Central Bank of India, has introduced SMS alert facility to all its savings account holders for transactions of 5,000 or more, as a further step towards modernizing its services. This facility is being provided free of charges for the time being at all the 1200 Core Banking Services (CBS) branches of the bank.

On the launch of this scheme, S. Sridhar, Chief Managing Director (CMD), Central Bank, said, "This is part of the bank's offering of 'convenience products' for customers."

The bank has also commenced sending of SMS Alerts as a customer friendly measure to its fixed deposit holders seven days prior to the maturity of their deposits. To avail of this facility, customers have to register their account numbers and ten digit mobile numbers prefixed with 91 with the Bank. In coming quarters, the bank is also planning to launch mobile banking services and upgradation of branches to attract more number of customers. In the first phase, about 25 branches will be upgraded, while in second phase another 75 branches will be upgraded.

In January 2009, the bank had launched a special home loan scheme offering loans at 8.5 percent per annum for the first five years of the loan tenure. Later the applicable rate of interest was lowered to eight percent per annum for one year. The bank has been also providing education loans at discounted rates. The current interest rate for education loan is ten percent and there is 0.5 percent concession in interest rate for girls.

Central Bank of India was awarded 'Best Education Loan Provider' by Outlook Money and NDTV Profit in 2008. It is the first Indian commercial bank, wholly owned and managed by Indians.

In the financial year ended March 31, 2009, the bank recorded an increase in the operating profit by 13.28 percent to 1,436.74 crore against 1,268.30 crore in previous fiscal.

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Reader's comments(5)
1: CBI services to NRIs in Doha, Qatar is very awful. Their local agent Global Exch is giving very poor service.
CBI should follow SBI's prompt service and confirmation of
remitannces credited to account within 24 hours by SMS.
Posted by:Ravi Pillay - 07 Jul, 2009
2:
To comparise with SBI which adopted son of RBI and Home Minister to Central Govt & State Govts. and earn huge amounts of Interest on Funds given as overdrats to them,which is not possible to Central Bank.
Central Bank cater to individuals without considering profile.
Bhadauria Surendra Singh Replied to: Ravi Pillay - 08 Jul, 2009
3: After the growth of private banking in Indian market, state head banks are also trying its best to attract customers by bringing some attractive schemes and sops.
Posted by:mahi - 07 Jul, 2009
4: kindly activate sms alert on account no.1021716068
Posted by:RATNESH KUMAR - 06 May, 2013
5: CBI should follow SBI's prompt service and confirmation of
remitannces credited to account within 24 hours by SMS.
Posted by:Rohit Pandey - 23 Oct, 2009
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