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 Central Bank launches pilot training loan scheme

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cyrilroy21
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PostSubject: Central Bank launches pilot training loan scheme   Sun Dec 23, 2007 5:46 pm

Mumbai: On Thursday, December 20th 2007, Central Bank of India, one of the largest public sector banks in India celebrated its 97th Founder's Day. The occasion was chosen by the bank to launch two new products and a few other services.
Cent Swabhiman, a reverse mortgage scheme especially designed for senior citizens of the country and Cent Udaan, a loan for pursuing training as a pilot for eligible aspirants was announced at this special occasion.
Cent Udaan is geared towards providing a loan up to a maximum of Rs. 25 lakhs to aspiring pilots. This loan will have to be repaid within five years of completion of the pilot training program.
In addition to the above schemes Central Bank of India also entered a tie-up with Reliance Mutual Fund for distributing its products. The bank also extended the core banking solution platform to its Shirdi branch and is contemplating to install an ATM there. An online application facility for education loans was also launched at the occasion.
Nationalized on 19th July, 1969 by the Government of India, the bank currently has a nationwide presence with more than three thousand branches and around three hundred extension counters across 27 States.
21/12/07 Joseph Samson/Rupee Times
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