Central Bank of India, one of the oldest state-run bank, is likely to set up representative office in Nairobi, nearly thirty years after it closed down overseas operations. It has received license for a representative office in Nairobi.
The bank has launched its second e-lobby in the country at Pune. It plans to introduce 100 such e-lobbies across the country by March 2013. It aims to attract younger customers who can use the facilities such as withdrawing or depositing cash, updating pass books or depositing cheques at their convenience.
Recently, Central Bank of India had slashed interest rates for home loans by 0.25 percent and had waived off the processing fees in order to prop up the sagging home loan market. The bank is offering a blanket waiver of processing fees for loans across amounts and tenors till March 31, 2012.
