Shri Pranab Mukherjee, Hon'ble Union Finance Minister inaugurated Central Bank of India's 3564th Branch on 18th April 2010 at Margram, District Murshidabad in West Bengal. During the inaugural function the Finance Minister distributed various schemes loan sanctions and Kisan Credit Cards etc. to the needy beneficiaries.
Dedicating the Bank's Branch, Union Finance Minister said that Margram is a developing area and a long pending demand of the people of Margram for a Bank's Branch is fulfilled due to CMD, Mr. Sridhar's spontaneous agreeing and opening Bank's Branch at Margram.
Taking over charge as Union Finance Minister last year, his immediate priority was to arrest the declining trend of GDP of 5.8% and due to Government providing two financial packages of Rs.80,000 crores coupled with reduction in import & export duty, increase in allocation for Agriculture arrested the downward trend which has now increased to 7.2% and he expects GDP to touch 8.5% by 2011.
He further stated that in G-20 meeting when he was asked about the Govt. financial support given to Indian Banks, he was proud that Indian Banks are self sufficient, standing on strong financial footings and do not require any support from Government. Even during the global recession the Indian Banks survived because they did not take speculative risks.
He stressed for the inclusive growth through Primary Education, Sarba Siksha Abhijan, Midday Meals, 100 days work, Financial Inclusion for overall economic development of the country and praised the role played by Indian Banks, especially Central Bank's sanctioning loans of Rs.3.02 crores for various rural activities to the villagers of Margram.
The Minister appreciated the present leadership of the Bank for their firm commitment for serving rural masses reflected by opening a rural branch in such a remote unbanked area instantly.
Earlier, on the occasion the CMD Sri. S. Sridhar said Central Bank, a Swadeshi Bank, entering it’s centenary year is the third biggest public sector bank and has crossed business of Rs.2,64,000 crores recording 23% growth and is expecting highest profit in Bank’s history for the year ended March 2010.
He welcomed the villagers of Margram to join 25 million Bank’s existing customers. He further stated that Bank firmly believes in fulfilling it’s social responsibilities, and has recorded 52% growth in MSME and completed 100% financial inclusion in over 13000 villages by opening over 31 lakhs no-frill accounts.
He added that the Bank is serving West Bengal through its 272 branches and Margram branch is third in Murshidabad district and the Bank will further increase its presence to serve more and more to the rural masses in this area.
Sri Ramnath Pradip, ED thanked Hon’ble Finance Minister for dedicating Margram branch to its people reiterating Bank’s firm commitment for comprehensive economic and social development of the area.
The function was also attended by Sri. Arun Kaul, Executive Director of the Bank, Sri. Adhir Ranjan Choudhury, MP, Sri Apurb Sarkar, MLA and Sri. P. Siddiqui, DM, Murshidabad.
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