C'wealth Games to earn heavy biz for Central Bank
By Vaibhav Aggarwal
Jun 3, 2010
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The upcoming commonwealth games to be held in Delhi this year have already generated business of Rs. 5000 crore for Central Bank of India in the form of deposits, said Vijai Misra, the deputy General Manager of the bank.

Central Bank of India is playing the role of official bankers of the game.

The bank expects to generate large amount of current account and savings account (CASA) deposits as all the funds received by the games organising committee by way of government funding, sponsorship amount, ticket sales, television and merchandising rights and lottery will be routed through the bank.

Misra however emphasized on the banks's intention to gain 'visibility' by being official banking partners for the games.

He said that the bank has already come up with a branch and plans to open four more in Delhi in order to cater to the needs of the games.

The bank stands amongst the top five banks in the country and is celebrating 100 years of banking from December 21, 1010. In 2009-10, its total business stood at Rs 2,69,225 crore, registering a growth of 23.5 per cent over the previous year's business of Rs 2,18,012 crore.

The bank has plans of opening up 1,500 ATMs in the country this fiscal.


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