INDEX

S.

No. ParticularPage No

1. Industry Profile

2. History

3. Product profile

4. Organisation Structure

5. Functional Area

6. SWOT Analysis

7. Vision and Mission

8. Goals

9. Objective Of Study

10. Recruitment And Selection

11. Difference between recruitment and selection

12. Findings

13. Suggestions

14. Conclusion

4.5 Bibliography

Acknowledgement

Preface

INDUSTRY PROFILE

Central Bank of India (CBI) was established in 1911 by Sir Sorabji Pochkhanawala. Sir

Pherozesha Mehta was the first chairman of the bank. The bank was nationalised in

1969. In 1923, it took over the management of Union Bank of India Ltd and

amalgamated the Tata Industrial Bank Ltd. In 1961, the bank took over Jodhpur

Commercial Bank Ltd. In 1984, Indo-Zambia Bank Ltd was incorporated by CBI in JV

with BoB, BoI and Zambian Government. In 1987, it co-promoted IL&FS with UTI and

HDFC. In 1989, it promoted Cent Bank Home Finance Ltd, a wholly owned subsidiary.

Established in 1911, Central Bank of India was the first Indian commercial

bank, which was wholly owned and managed by Indians. The establishment of the Bank

was the ultimate realisation of the dream of Sir Sorabji Pochkhanawala, founder of the

Bank. Sir Pherozesha Mehta was the first Chairman of a truly 'Swadeshi Bank'. In fact,

such was the extent of pride felt by Sir Sorabji Pochkhanawala that he proclaimed Central

Bank as the 'property of the nation and the country's asset'. He also added that 'Central

Bank lives on people's faith and regards itself as the people's own bank'.

During the past 95 years of history the Bank has weathered many storms and

faced many challenges. The Bank could successfully transform every threat into business

opportunity and excelled over its peers in the Banking industry.

A number of innovative and unique banking

activities have been launched by Central Bank of India and a

brief mention of some of its pioneering services are as

under:

1921 Introduction to the Home Savings Safe Deposit Scheme to build

saving/thrift habits in all sections of the society.

1924 An Exclusive Ladies Department to cater to the Bank's women

clientele.

1926 Safe Deposit Locker facility and Rupee Travelers' Cheque.

1929 Setting up of the Executor and Trustee Department.

1932 Deposit Insurance Benefit Scheme.

1962 Recurring Deposit Scheme.

Subsequently, even after the nationalization of the Bank in

the year 1969, Central Bank continued to introduce a

number of innovative banking services as under:

1976 The Merchant Banking Cell was established.

1980 Central card, the credit card of the Bank was introduced.

1986 'Platinum Jubilee Money Back Deposit Scheme' was launched.

1989 The housing subsidiary Cent Bank Home Finance Ltd. was started with

its headquarters at Bhopal in Madhya Pradesh.

1994 Quick Cheque Collection Service (QCC) & Express Service was set up

to enable speedy collection of outstation cheque.

Further in line with the guidelines from Reserve Bank of India as also the

Government of India, Central Bank has been playing an increasingly active role in

promoting the key thrust areas of agriculture, small scale industries as also medium and

large industries. The Bank also introduced a number of Self Employment Schemes to

promote employment among the educated youth.

Among the Public Sector Banks, Central Bank of India can be truly described as

an All India Bank, due to distribution of its large network in 27 out of 28 States as also in

4 out of 7 Union Territories in India. Central Bank of India holds a very prominent place

among the Public Sector Banks on account of its network of 3194 branches and 267

extension counters at various centers throughout the length and breadth of the country

In view of its large network of branches as also number of savings and other

innovative services offered, the total customer base of the Bank at over 25 million

account holders is one of the largest in the banking industry.

Customers' confidence in Central Bank of India's wide ranging services can very

well be judged from the list of major corporate clients such as ICICI, IDBI, UTI, LIC,

HDFC as also almost all major corporate houses in the country.

Capital structure :

The authorized Capital of Central Bank of India is 15,000 million equity shares

of Rs.10 each & 8,000 million are perpetual non-cumulative preference shares. Out of

which 324,141,460 equity shares of Rs.10 issued and 80,000,000 equity shares of Rs. 10

fully paid up.

General Managers

Name Designation Tel. No.

Shri G GuptaPriority Sector/ Rajbhasha/ Operation/ Central Card/ Subsidiaries

022-22161091

Shri S Suresh Credit/ Credit Policy/ Loan 022-22022048

Shri K K Gupta Credit Appraisal 022-22021553

Shri R P Sharma Zonal Manager - New Delhi 011-23318964

Shri S G Nadgonde Zonal Manager - Kolkata 033-22301270

Shri A GhoshNew Initiative Dept/ Planning & Development/ Profitability

022-22024601

Shri G P Chitnis HRD/ Dept of IT/ Risk Management 022-22022565

Shri N NatrajanAudit & Inspection/ House Keeping & IBR/ General Administration Dept

022-66387777

Shri R N Vadivelu International Division/ Treasury/ MBD/ Dept of IT 022-22831592

Shri R Natarajan Planning & Development/ Accounts/ Legal/ Recovery

022-22026776

Shri S M Deshpande Zonal Manager - Mumbai Metro 022-22043673

Shri V P SatheAudit/ Inspection/ Inter Branch Reconciliation/ Housekeeping

022-27580571

Shri H K Vesuna Accounts/ Recovery/ Legal & BIFR/ HRD 022-22023326

Shri K A Somayajulu Zonal Manager – Chennai 044-28554792

Corporate OfficeCentral Bank of India

Chander Mukhi, Narman PointMumbai – 400 021

Tel: 022 – 6638 7777

Zonal Offices

AGRA

Block No. 37/2/4, Sanjay PlaceAgra – 282 002

Tel.: 0562 – 2850154/3424Fax: 0562 – 2853698/1341Email: zmagrazo@Central Bank.co.in

AHMEDABAD

Central Bank BuildingP.O. No. 205, Lal DarwajaAhmedabad – 380 001

Tel.: 079 – 25503586Fax: 079 – 25505995Email: zmahmezo@Central Bank.co.in

BHOPAL

9, Arera Hills, Jail RoadBhopal – 462 011

Tel.: 0755 – 2674037/36/35/34/33Fax: 0755 – 2552019Email: zmbhopzo@Central Bank.co.in

CHANDIGARH

P. B. No. 13, No. 58-59Bank Square, Sector – 17BChandigarh – 160 017

Tel.: 0172 – 2702994/98Fax: 0172 – 2704047Email: zmchanzo@Central Bank.co.in

CHENNAI

48/49, Monteith RoadEgmore,Chennai – 600 008

Tel.: 044 – 28554792/4692/4620Fax: 044 – 28551260Email: zmchenzo@Central Bank.co.in

GUWAHATI

G. S. Road, Central Bank BuildingBhangagarh,Guwahati – 781 005

Tel.: 0361 – 22457651/52Fax: 0361 – 22452154 Email: zmguwazo@Central Bank.co.in

HYDERABAD

P. B. No. 522, 710-712Mahapathram Road, Bank StreetHyderabad – 500 195

Tel.: 040 – 24740361/64, 24611402-05Fax: 040 – 24742841 Email: zmhydezo@Central Bank.co.in

KOLKATA

Central Bank Building33, Netaji Subhash RoadKolkata – 700 001

Tel.: 033 – 22301270/1275/7007Fax: 033 – 22309864Email: zmkolkzo@Central Bank.co.in

LUCKNOW

P. B. No. 10, Akash Deep23, Vidhan Sabha RoadLucknow – 226 001

Tel.: 0522 – 2611301-4Fax: 0522 – 2621213Email: zmluckzo@Central Bank.co.in

MUMBAI METRO ZONAL OFFICE

Standard Building, 1st FloorD. N. Road,Mumbai – 400 023

Tel: 022 – 22047229/7301/7304Fax: 022 – 22044720Email: zmmmzo@Central Bank.co.in

MUZAFFARPUR

Pawapuri Vihar Building, N. H. 28Near Bhagwanpur ChowkMuzaffarpur – 842 001

Tel: 0621 – 22251855Fax: 0621 – 2251784Email: zmmuzazo@Central Bank.co.in

NAGPUR

Oriental Building, 2nd FloorKamptee Road,Nagpur – 440 001

Tel.: 0712 – 2520361-63Fax: 0712 – 2520365Email: zmnagpzo@Central Bank.co.in

NEW DELHI

P. B. No. 7007, Link HousePress Area, 3 Bahadurshah Jafar Road,New Delhi – 110 002

Tel.: 011 – 23318964, 23319268/69Fax: 011 – 23311332/237Email: zmdelhzo@Central Bank.co.in

PATNA

2nd Floor, Block BMaurya Lok ComplexDak Banglow Road,

Tel.: 0612 – 2226607Fax: 0612 – 2221898Email: zmpatnzo@Central Bank.co.in

Patna – 800 001

PUNE

P. B. No. 98, 317M. G. Road,Pune – 411 001

Tel.: 020 – 26131611-17Fax: 020 – 26131618Email: zmpunezo@Central Bank.co.in

RAIPUR

1st Floor, Block ‘C’Bombay Market, G. E. Road,Raipur – 492 001

Tel.: 0771 – 2226756, 2225171Fax: 0771 – 2234895Email: zmraipzo@Central Bank.co.in

Directors

Directors of Central Bank of India & their addresses:

1. Ms H. A. Daruwalla

Chairperson & Managing Director

Chander Mukhi

Nariman Point

Mumbai-400 021

Tel.: (O) 022 - 22024393 / 22023942

Fax: 22028122

2. Shri K. Subbaraman

   Executive Director

Chander Mukhi

Nariman Point

Mumbai-400 021

Tel: (O) 022 - 22023661 / 66387799 / 66387826

Fax: 22856187

3. Shri Albert Tauro

   Executive Director

Chander Mukhi

Nariman Point

Mumbai-400 021

Tel: 022 - 22874143

Fax: 022 – 22022617

4. Shri P. P. Mitra

   Economic Advisor and Joint Secretary

Ministry of Finance

Banking Division

Jeevan Deep Building

New Delhi Tel: 011 – 23745128

5. Shri M.K. Bhattacharya

   RBI Nominee Director

Evershine Millenium Park Apts.

37/601, Thakur Village, Kandivili (East)

Mumbai – 400101

6. Shri Kamal Faruqui

A-80, Nizamuddin East,

New Delhi -110013

Tel: 011 – 23269723

7. Major (Retd) Ved Prakash

204/1 Neb Valley,

Neb Sarainew

Delhi

Tel: 011 - 23018891 / 23014325

Fax: 011 – 23017047

8. Smt. Satya Bahin

89, Sector-4, Vaishali

Ghaziabad (U.P)

Tel: 0120 – 2774995

9. Shri Harish Chandhok

20-21, Manishpuri,

Saket Ext.

Indore.

Tel: 0731 - 2493152

0731 – 4064828

10. Shri Romesh Sabharwal

A2/3, M.S. Flats

Peshwa Road, Gole Market,

New Delhi - 110 001

11. Ms. Indu Singh Pawar

Central Bank of India

18A, Shashtri Nagar,

Jammu Tavi

Pin - 180 004

12. Shri C.M. Puri

Central Bank of India,

Janpath Branch,

P.B. 244, 70, 72 Janpath

New Delhi - 110 001

Tel: 011 – 23321343/23316708

Fax: 011 – 23357934

13.  Shri N. K. Pareek

Central Bank of India,

P.B. No. 87, Mirza Ismail Road,

Jaipur - 302 001

Tel: 0141 - 2370333

Fax: 0141 – 2338900

History of Central Bank of IndiaSir Sorabji Pochkhanawala established Central Bank of India in 1911. It was the

first Indian commercial bank, which was wholly owned and managed by Indians. Sir

Pherozeshah Mehta was the first Chairman of the Bank. In 1969, Central Bank of India

was nationalized along with 13 other banks.

In its 95 years of history, Central Bank of India has launched a number of innovative

and unique banking activities. Major among them are:

1921: Introduction of the Home Savings Safe Deposit Scheme to build

saving/thrift habits in all sections of the society.

1924: An Exclusive Ladies Department to cater to the Bank's women clientele.

1926: Safe Deposit Locker facility and Rupee Travellers' Cheques.

1929: Setting up of the Executor and Trustee department.

1932: Deposit Insurance Benefit Scheme.

1962: Recurring Deposit Scheme.

1976: The Merchant Banking Cell was established.

1980: Centralcard, the credit card of the Bank was Introduced.

1986: 'Plantinum Jubilee Money Back Deposit Scheme' Was launched.

1989: The housing subsidiary Cent Bank Home Finance Ltd. was started with its

headquarters at Bhopal in Madhya Pradesh.

1994: Quick Cheque Collection Service (QCC) & Express Service were set up to

enable speedy collection of Outstation cheques.

Central Bank of India has a large network of 3161 branches and 270 extension

counters spread over 27 States and 4 Union Territories. The Bank has a total customer

base of over 25 million account holders, which is one of the largest in the banking

industry.

Products of Central bank

This chapter contains information about different products offered by the central bank

of India for the benefit of its customers.

CBI has offered a choice of various deposit schemes with unique features and facilities.

These schemes suit different kinds of banking needs you might have.

Money multiplier deposit certificate

The interest accrued gets added back to the principal

giving you an effective interest rate that is higher than the

contracted interest rate.

Amount of deposit minimum amount of Rs. 100/- and multiplies of Rs.

100/-.

Period of deposit minimum period of 6 months and upto a maximum of

120 months.

Rate of interest The rate of interest shall be the appropriate rate

prevailing on the date of the deposit for the period so

selected.

Premature payment Payment before maturity is available as per prevailing

rules.

Loans/advance against

deposit

Loan/advance facility is available under the scheme as

per prevailing rules.

Khazaana deposit scheme

Khazaana deposit scheme offers you the double

benefits of easy liquidity and high returns. It is also a flexible

scheme that allows you to withdraw a part of the deposit

amount as and when required.

Amount of deposit minimum amount of Rs. 5000/- and multiplies of Rs.

1000/-.

Period of deposit minimum period of 30 days and upto a maximum of 120

months.

Rate of interest The rate of interest shall be the appropriate rate

prevailing on the date of the deposit for the period so

selected.

Premature payment You will be permitted to withdraw upto a maximum of

10 times during the entire period of deposit.

Loans/advance against

deposit

Loan/advance facility is available under the scheme as

per prevailing rules.

Monthly interest deposit receipt

The MIDR scheme provides you with monthly interest

earnings, without affecting the principal amount.

Amount of deposit minimum amount of Rs. 5000/- and multiplies of Rs.

1000/-.

Period of deposit open an account for periods ranging from 12 months to

120 months.

Rate of interest The rate of interest shall be the appropriate rate

prevailing on the date of the deposit for the period so

selected.

Premature payment Payment before maturity is available as per prevailing

rules.

Loans/advance against

deposit

Loan/advance facility is available under the scheme as

per prevailing rules.

Quarterly interest deposit receipt

QIDR provides you quarterly interest without affecting

the principal amount.

Amount of deposit minimum amount of Rs. 5000/- and multiplies of Rs.

1000/-.

Period of deposit open an account for periods ranging from 12 months to

120 months.

Rate of interest The rate of interest shall be the appropriate rate

prevailing on the date of the deposit for the period so

selected.

Premature payment Payment before maturity is available as per prevailing

rules.

Loans/advance against

deposit

Loan/advance facility is available under the scheme as

per prevailing rules.

Centrals flexi yield deposit scheme

Under this scheme depositors can avail floating rate of

interest, which is higher than the interest rate on normal

term deposits.

Amount of deposit Single deposit of Rs. 1 lac and above.

Period of deposit One year and above and upto a maximum of 10 years.

Rate of interest The rate of interest shall be the appropriate rate

prevailing on the date of the deposit for the period so

selected.

Premature payment In case the deposit will be treated as normal deposit and

interest will be paid as per our prevailing rates

applicable to normal deposits.

Loans/advance against

deposit

Loan/advance facility is available under the scheme as

per prevailing rules.

LOANS

You can avail of easy and convenient loan offers for purposes ranging from

housing finance to higher education to purchase of computer. Our loans enrich life and

enhance lifestyles.

Cent buy

Facility & purpose You can avail of the term loan facility at all branches for

purchase of consumer durables, two wheelers and four

wheelers.

Eligibility 1) Permanently employed persons (govt./private sector)

2) Others have regular and known sources of income.

3) For four wheelers, applicant should be income tax

assessee.

Quantum of loan 80% of the cost of four wheelers. Maximum Rs. 10 lacs.

85% of the cost of two wheelers and other consumer

durables. Maximum Rs.2 lacs.

Security Hypothecation of articles/vehicles purchased out of loan. In

case f salaried employees, when installments are received

from salary.

Rate of interest PLR + 2%

Processing

charges

1% of the loan amount. Minimum Rs.100/-.

Repayment 36 to 84 equated monthly installments (EMIs).

Cent Vyapari

Objective To provide finance to small and medium traders.

Implemented by Semi-urban and & urban branches.

Nature of facility Cash credit.

Eligibility Small and medium traders including retailers and

distributors.

Maximum limit Rs. 5 lacs per borrower.

Margin Minimum 25% on stocks.

Rate of interest Upto Rs. 2 lacs – PLR

Over Rs.2 lacs and upto Rs. 5 lacs –PLR + 4%

Security 1) Hypothecation of stocks.

2) E.M. of land and building.

Processing fees Upto Rs. 25000 Nil

Above Rs.25000 to Rs.1 lac - Rs.250/-

Above Rs 1 lac – Rs.2lacs - Rs. 500/-

Above Rs.2 lacs – Rs.5 lacs - Rs.2500/-

Personal Loan – To Employees Of Corporate Clients

Eligibility Permanent employees of large corporate clients.

Purpose To meet any personal/domestic expenses of the borrower.

Quantum of loan Ten times of gross salary subject to a maximum of Rs. 1 lac.

Rate of interest PLR + 4%

Mode of

repayment

36 months in equated monthly instalments commencing one

month after the month of disbursement.

Processing

charges

1% of the loan amount.

Cent mortgage

Facility & purpose Term loan facility to meet any sort of personal or business

expenses.

Eligibility Loan against mortgage of property situated in

metro/urban/semi-urban areas.

Target group Individual singly or jointly, traders, businessmen,

professionals or self employed persons etc. having known

sources of net income of Rs. 10000/- per month or more.

Quantum of loan 20 times net monthly income subject to minimum amount of

Rs.1.00 lac and maximum of Rs. 10 lacs.

Security Residential house/flat, commercial or industrial property

situated in metro/urban/semi-urban centers only in the name

and possession of the borrower. The property value should

be equal to 200% of the loan amount.

Insurance The property will be insured against fire, riots and wherever

required against earthquake, flood, lightning etc. by the

borrower with usual bank clause for the full value of the

property.

Rate of interest PLR + 4%

Processing

charges

1% of the loan amount.

Repayment Advance Cheque signed by the borrower for repaying

monthly instalments along with letter of deposit will be

obtained.

Cent trade

Facility & purpose Overdraft limit for business requirements.

Eligibility/Target group Traders/retailers/distributors/commission

agents/arhatiyas.

Quantum of loan Equitable mortgage of property situated in

metro/urban/semi-urban with market value of 200% of

overdraft limit and in the name and possession of the

borrower.

Insurance The property will be insured with the usual bank

clause for full value of the property.

Rate of interest Upto Rs. 2.00 lacs - PLR

Over Rs. 2.00 lacs - PLR + 2%

Processing charges Upto Rs. 25000 - Nil

Above Rs. 25000 upto Rs. 100000 - Rs.

250/-

Above Rs. 100000 upto Rs. 200000 - Rs. 500/-

Above Rs. 200000 upto Rs. 1000000 - Rs. 2500/-

Above Rs.1000000 upto Rs.2000000 - Rs. 5000/-

Required details Application form.

Financial statements.

Copy of sales tax registrations.

Copies of sales tax returns.

Credit report from previous bankers/market report.

Details of property offered as security with its present

valuations.

Central kisan credit card

Objectives Loan for farmers on the basis of their holdings for

purchasing agricultural inputs including cash

withdrawals for their production needs.

Eligibility CKCC will be provided to any farmer to cater to

his short-term credit requirements.

Farmers having good track record for past 2

years with our bank as a borrower or depositor and not

being defaulter to any credit institution would be

considered.

CKCC will be issued to farmers in the form of

card-cum-passbook incorporating the name, address,

particulars of land holding, borrowing limit, validity

period which will serve both as an identity card as well

as facilitate recording of transactions on an ongoing

basis.

Security margin In conformity with the agriculture loan.

Rate of interest Same rate of interest as are applicable to crop loans and

activities allied to agriculture.

SERVICES

Central card

It is a unique credit card offering you innumerable facilities & convenience. It

offers you the freedom to spend at a large number of member establishments.

Facilities offered by central card:

Our domestic card is accepted all over India and Nepal having more than 110000

merchant outlets.

All retail outlets, petrol pumps, Indian railways, airlines, nursing homes, hotels,

restaurants, departmental stores and grocery stores etc. now accept central card.

Mail order/telephone order, Internet transactions can also be made through central

card with prior approval/authorization from our system.

Group Accident Insurance Scheme coverage upto Rs. 1 lakh.

Central Card Electronic

Central card electronic is a new “entry level credit product” for the emerging,

untapped market segments that previously did not have access to traditional bank card

payment products.

Features:

It is designed for use only at electronic terminals. Acceptance at non-terminalised

merchants is not allowed.

Account information is printed and not embossed on the card.

24-hour customer call centers are available on India.

There is zero lost card liability.

Card will be replaced in seven days.

You will get free accident insurance cover upto Rs. 100000/-

You will get free lost card insurance cover to the extent of credit limit.

You will be allowed cheque encashment facility, upto Rs. 2500/- at all the branches

of CBI.

There is no fear spending over the limit, as only transactions within the available

limits would be authorized.

Cash withdrawal limit:

- Domestic card -Rs. 5000/- p.m.

- Global card -Rs. 15000/- p.m.

Fees and charges:

There is no joining fee.

An annual fee of Rs. 400/- is charged every year in advance.

The card is issued/renewed every two years.

A nominal fee of Rs. 50/- is charged for a photo card.

Debit Card

Features:

Direct online debit to your savings or current account.

Completely safe and secure PIN based card.

Globally accepted at merchant establishments displaying the maestro/cirrus logos.

24-hour customer call centers available in India.

Zero lost card liability.

Replacement card.

Itemized billing on your statement/passbook.

Fees & charges:

There is no transaction charge at the ATMs of CBI.

Transaction charges are levied only at non-central bank maestro.

* Rs. 30 for cash withdrawal

* Rs. 6 for balance enquiry

Cash Management Services

Who can avail cash management services?

Corporate

Public, private and joint sector Cos.

Existing partnership firms

Existing proprietorship firms

Individuals & institutions

Benefits to customers:

Better cash management

Regular computerized MIS/reports

Instant liquidity

Faster and higher turnover

Higher income and profitability

Travelers’ Cheques

Central bank’s travelers’ cheque are available in denominations of Rs. 100/-, Rs.

500/-, Rs. 1000/-, Rs. 2500/- and Rs. 5000/-.

Charges Rs. 1/- per Rs. 100/-.

They are encashable at par at all the branches of central bank and other leading

nationalized banks.

They are valid till encashed.

Gift Cheques

Central bank gift cheques are ideal gifts for all occasions.

They are available in denominations of Rs. 11/-, Rs.25/- Rs.51/- and Rs. 101/-.

Issued free of charge and payable at par, at all the branches of central bank.

SWOT ANALYSIS

STRENGTHS:

1. The bank is a pioneer in introducing several initiatives such as agricultural financing and

door-to-door banking, which are now recognized as benchmarks by the industry.

2. So far, the bank has won 25 awards for its excellence in providing banking services. It also

offers a wide range of products to serve various needs of its customers.

3. The bank is the first public sector bank to provide BPO services and is also ISO certified.

4. The bank is well aware of its social responsibility and has been actively involved in the

development of the society since its inception.

WEAKNESSES:

1. Increasing NPA.

2. Poor qualification of many employees.

3. It has just started implementing its core banking solutions across many of its branches.

Many public sector banks have made much progress in this area.

OPPORTUNITIES:

1. It has created a good customer base and it is time that it leverages on this strength to cross

sell and up sell its various products to them.

2. Expansion prospects in retail, SME and agricultural sector.

3. The Bank should enhance its technological capabilities to differentiate products and

services from those of its competitors and continue to implement its Core Banking Solutions

plan.

4. The Bank should also expand its presence in international markets.

THREATS:

1. Increasing competition posed by global and private sector banks.

2. The excessive time taken by the government to give compensation because of the recent

loan waiver announced in the March 2008 Finance Budget.

3. Better performance by private sector banks as well as some of its public sector

counterparts.

VISION

To emerge as a strong, vibrant and pro-active Bank/Financial Super Market and to

positively contribute to the emerging needs of the economy through consistent

harmonization of human, financial and technological resources and effective risk control

systems.

MISSION

♦ To transform the customer banking experience into a fruitful and enjoyable one. ♦ To leverage technology for efficient and effective delivery of all banking services. ♦ To have bouquet of product and services tailor-made to meet customers aspirations.

 ♦ The pan-India spread of branches across all the state of the country will be utilized to further the socio economic objective of the Government of India with emphasis on Financial Inclusion.

GOALS

The goals articulated for each of the functional areas of the bank is:

1. Business: To achieve global business of Rs. 200 thousand crores by March 2009.

2. Resources: To achieve global deposits of Rs. 162000 crore by March 2009 with emphasis

on low cost resources by planned strategic initiatives including branch expansion, aggressive

marketing and active involvement of each and every employee.

3. Advances: To build qualitative asset base of around Rs. 80000 crore by March 2009 to

augment the income portfolio of the bank.

4. Priority sector credit: To have accelerated and qualitative growth in priority sector

lending to reach a level of Rs. 23800 crore, Rs. 10200 crore under agriculture, Rs. 3514 crore

under SME through various customer friendly credit products and to take maximum

advantage of “Financial Inclusion “ so as to expand the clientele base of the bank, and

provide financial assistance to all eligible candidates.

5. Information Technology: To harness state-of-art technology and network all branches so

as to make available reliable MIS for DSS and deploy best practices in Information Security

to manage the business effectively and profitably.

6. Management of assets : To make 2008-09 truly a “year of NPA resolution” by striving

for getting “A” rating under asset quality by upgrading NPAs, bringing down gross NPA and

net NPA level both in absolute and percentage terms below march 2008 figure and

accomplish NPA recovery target as per commitment.

OBJECTIVES OF STUDY

1. To have an overview of the organization.

2. To study the departments of the organization in detail.

3. To know about all the products and services being offered by the company

4. To gather study the organizational hierarchy of the company.

5. To gather sufficient information about the company so as to do its swot analysis.

6. To give our own suggestions for the betterment of the company.

OBJECTIVES OF THE STUDY

The main objective of this study is to carry on brief study on “Recruitment

and Selection ” through this I am able to get the different Banking

Company .

Other objectives of this project are as follows:

· To identify the insurance needs of the Indian population with respect to

their emotional, physical and financial conditions.

· Comparative study of various Banking Company in the market

· To study the varied reasons of availing Banks palns.

RECRUITMENT & SELECTION

A. RECRUITMENT

INTRODUCTION

According to flippo-Recruitment is the process of searching for prospective employees

and stimulating and encouraging them to apply for jobs in an organized .”In other words

of yoder,”Recruitment is a process to discover the sources of manpower to meet the

recruitment of the staffing schedule and to employ effective measures for attracting that

manpower in adequate numbers to facilitate effective selection of an efficient working

force.

Recruitment needs are of three types –planned,anticipated and unexpected.planned needs

arise from changes in organization and retirement policy.Registrations,deaths,accident

and illness give rise to unexpected needs.anticipated needs refer to those movments in

human resource which an organization can predict by studying trends in the internal and

external environments.

2.2 FEATURES OF RECUITMENT

Recruitment is a two way process.it takes a recruiter and recruitee.

Recruitment is a linking activity as it brings together those with jobs

{employer) and those seeking jobs (prospective employees).

NEED OF RECRUITMENT

a) Vacancies due to promotion, transfer, retirement, permanent disability, death and

labour turnover.

b) Creation of new vacancies due to the growth, expansion and diversification of

business activities of an enterprise. In addition, new vacancies are possible due to

job specification.

PROCESS OF RECRUITMENT

Recruitment process generally begins when the human resource department

receives requisition for recruitment from any department of the company.

Locating and developing the sources of required number and type of employees.

Identifying the prospective employees with required characteristics.

Communicating the information about the organization the job and the terms and

conditions of service.

Encouraging the identified candidates to apply for jobs in the organization.

Evaluating the effectiveness of recruitment process.

RECRUITMENT POLICY

Recruitment policy specifies the objectives of recruitment and provides a framework

for the implementation of the recruitment programme.it may involve commitment to

principles such as enriching the organization ‘s human resources by filling vacancies

with the best qualified people ,attitudes towards recruiting handicaps, minority

groups, women ,friends and relatives of present employees, promotion from within .

It may also involve the organisatonal system to be developed for implementing the

recruitment programme and procedures to be employed.recruitment policy should be

based on the recognition that it is hard to find qualified executives.A recruitment

policy involves the employer’s commitment to such general principles as:

a) To find and employ the best qualified persons for each job;

b) To retain the most promising of those hired;

c) To offer promising opportunities for life-time working careers;

d) To provide facilities and opportunities for personal growth on the job.

SOURCES OF RECRUITMENT

Varios sources of recruitment may be classified into two broad categories, namely

internal sources and external sources.

Internal sources-

Internal sources consist of the following:

a) Present employees-permanent, temporary and casual employees already on the

pay of the organization are a good source.

b) Retired and retrenched employees who want to return to the company may be

rehired.

c) Dependants and relatives of deceased and disabled employees.

External sources-

External sources of recruitment lie outside the organization.

These are as follows;

a) Educational and training institute -various institutes like IIMS, IITS,

engineering colleges, medical colleges, are a good source for recruitment.

b) Similar organizations - Experienced employees can be recruited by offering

better benefits to the people working in similar organization.

c) Press Advertisement - Advertisement in newspaper and journals is a widely used

source of recruitment.

d) Gate Recruitment- Unskilled workers may be recruited at the factory gate.

Techniques of Recruitment

a) Direct Method - Under direct recruitment scouting, employee’s contacts,

manned exhibits and waiting lists are used. In scouting, representatives of the

organization are sent to educational and training institutions.

b) Indirect Method- Advertisement in newspaper, journals on the radio and

television are used to policies vacancies .A well-thought-out and clear

advertisement enables candidates to assess their suitability so that only those

possessing the requisite qualifications will apply.

c) Third Party Method - various agencies can be used to recruit personnel.

Public employment exchanges, management consulting firms, professional

societies, temporary help socities, trade unions, and labour contractors are the

main agencies.

d) Internet Recruitment - E-lixir Web solutions recently carried out a survey on

the increasing popularity of on –line recruitment channels in India

SELECTION

INTRODUCTION

Selection is the process of choosing the mot suitable persons out of all the applicants. in

this process, relevant information about applicants is collected through a series of steps so

as to evaluate their suitability for the job to be filled. Selection is a process of matching

the qualifications of applicants with the job requirement. It is a process of weeding out

unsuitable candidates and finally identify the most suitable candidate.

Selection divides all the applicants into two categories-

(a) Suitable (b) Unsuitable

The purpose of Selection is to pick up the right person for every job .selection is an

important function as no organization can achieve its goal without selecting the right

People. Faulty selection leads to wastage of time and money and spoils the environment

of an organisation . proper selection is helpful in increasing the efficiency and

productivity of the enterprise.

FIGURE OF SELECTON PROCESS

FinalApproval

ReferenceChecks

MedicalExamination

EmploymentInterview

Selection Test

Application Blank

PreliminaryInterview

SelectionProcess

Steps in Selection Process

1 .Preliminary Interview - first of all ,initial screening is done to weed out totally

undesirably /unqualified candidates at the outset .preliminary interview is essentially a

sorting process in which prospective candidates are given the necessary information

about the nature of the job and the organization .necessary information is also elicited

from the candidates about their education,skill,experience,salary expected etc.if the

candidate is found suitable ,he is selected for further screening.

2 . Application Form - An Application form contains the following information-

a) Identifying information-Name,address,telephone number,etc.

b) Personal information-age,sex,place of birth,marital status,depandents,etc

c) Physical characteristics-height,weight,eyesight,etc.

d) Family background.

e) Education-academic,technical and professional.

f) Experience-job held,employers,duties performed,salary drawn,etc

g) References.

h) Miscellaneous-extra curricular activities,hobbies,games and sports,membership of

professional bodies,etc..

3 . Selection Test- Psychological tests are being increasingly used in employee

selection. A test is a sample of some aspect of an individual’s attitudes,behaviour and

performance.it also provides a systematic basis for comparing the behaviour,performance

and attitudes of two more persons.Test are helpful in better maching of candidate and the

job.

4.Employment Interview- An interview is a conservation between two persons. In

selection, it involves a personal, observational and face to face appraisal of candidates for

employment. Interview is an essential element of selection and no selection procedure is

complete without one or more personal interviews. The information collected through

application and test can be cross-checked in the interview.

5.Medical Examination- Applicant who have crossed the above stages are sent for a

physical examination either to the company’s physician or to a medical officer approved

for the purpose.

6.Reference Checks-The applicant is asked to mention in his application form, the

names and addresses of two or more persons who know him well.

7.Final Approval-In the most of the organizations, selection process is carried out by

the human resource department. The decisions of this department are recommendatory.

SELECTION TEST;

Job seekers who pass the screening and the preliminary interview are called for

tests.Different types of tests may be administered, depending on the job and the

company.Generally,tests are used to determine the applicant’s ability, aptitude and

personality.

Types Of Test-

1.Aptitude or Potential Ability Test- These test measure the talent ability or

potential of a candidate to learn a new job or skill. peculiarities or defects in a person’s

sensory or intellectual capacity can be detected through these tests. these focus attention

on a particular type of talent such as reasoning,learning,mechanical bent of mind,etc.such

test are of the following types:

a) Mental or Intelligence Tests.

b) Mechanical Aptitude Tests.

c) Psycho-motor or Skill Tests.

2.Achievement or Proficiency Tests-These tests measure what a person can do.

These determine the skill or knowledge already acquired through training and on the job

experience . These tests are of two types:

a) Job knowledge Tests.

b) Work sample Test.

3. Personality Test-These are pen and paper tests used to judge the psychological

make up of a person. These prob deeply to discover clues to an individual’s value system.

emotional reactions and maturity, and his characteristics mood. These help in assessing a

person’s motivation and interest, his ability to adjust himself to the stress of every day of

life, his capacity for inter-personal relations and for projecting an impressive image of

himself. These are of three types:

a) Objective Tests.

b) Projective Tests.

c) Situation Tests.

4.Interest Tests- These test are inventories of a candidate’s likes and dislikes in

relation to work. These are used to discover a person’s areas of interest and to identify the

kind of work that will satisfy him. These are generally used for vocational guidece.A

well-designed questionnaire is used to assess the likes and dislikes.

SELECTION INTERVIEWING:

Interview is a face to face interaction between two persons for a particular purpose. it is

widely used not only in employee selection but for

placement,orientation,appraisal,disciplinary action, exit or separation, counseling and

general problem-solving. it is also employed to screen candidates for admission into

institutes of higher learning. Thus, an interview is a purposeful exchange of views, the

answering of questions and communications and communication between two or more

persons.

Objectives and Importance of Interview-

a) To cross-check or verify the information obtained in earlier steps,i.e.,application

form and tests.

b) To judge the candidate’s qualification and characteristics so as to decide whether

or not to select him.

c) To give the candidate essential facts about the job and the company to enable him

to decide intelligently whether he should or should not accept the employment.

Types Of Interview-

1.Informal Interview-Such interview may take place anywhere. it is not planned and

is used when the staff is required urgently.

2.Formal Interview-This type of interview is preplanned and is held in a formal

atmosphere.

3.Stuctured Interview-Such interview is fully planned to a high degree of accuracy

and precision.

4-Unstructured Interview- In this interview the candidate is allowed to speak his

mind freely.

5-Depth Interview- It is a semi-structured approach wherein details concerning one

key area are sought. The purpose is to get a true picture of the candidate through deep

probing in to his mind.

6.Group Interview- Such interview is based on the assumption that behavior

displayed in a group situation is related to potential success in the job.

7.Stress Interview-The purpose of such interview is to find out how a candidate

behaves in stressful situation.

8.Panel or Board Interview - Such interview is conducted by a group of

interviewers. It seeks to pool the collective wisdom and judgment of several interviewers.

Questions are asked in turn or at random. The candidate may even be asked to meet the

members of the panel individually for a lengthy interview.

Steps in Interview Process

Preparation for the interview

The physical setting.

Conducting the interview.

Closing the interview.

Evaluation of interview.

Limitation of interview-

Personal Bias

Halo Effect.

Constant Error.

Leniency.

Projection.

Stereotyping.

DIFFERENCE BETWEEN RECRUITMENT AND SELECTION

1. Recruitment is the process of searching for prospective candidates and motivating

them to apply for job in the organization

Whereas, selection is a process of choosing most suitable candidates out of those, who

are interested and also qualified for job.

2. In recruitment the process is to attract maximum numbers of suitable and interested

candidates through applications.

In selection process the purpose is that the best candidate out of those qualified and

interested in the appointment.

3. Recruitment is the positive function in which interested candidates are encouraged to

submit application.

Selection is a negative function in which unsuitable candidates are eliminated and the

best one is selected.

4. In recruitment service of expert is not required Whereas in selection, service of expert

is required.

5. Recruitment is not costly. Expenditure is required mainly for advertising the posts.

Selection is costly activity, as expenditure is needed for testing candidates and conduct

of interview.

FINDINGS

According to my survey the noteworthy points are:

Central Bank is India‟s seventh largest public sector bank (in terms of total deposit).

It is the 9th most customer friendly bank in India according to Outlook Money (edition Sep 2007) and secures 11th position when it comes to spending on IT according to DQINDIA (edition Jan 2008).

As many as 58 per cent of the bank's branches are in rural areas.

The average age of the employees is 40+.

In BSE, the Bank is listed in Group (B).

At CBS branches the working hours are 5½ on and 4 on weekdays and Saturday respectively. While non CBS branches work for 4 hours on weekdays and 2 hours on Saturday. At select branches, 7 day banking is also practiced.

Central Bank has become the first public sector bank to enter the BPO segment. It is one of the first public sector banks to go in for CBS as well.

Central Bank has also been awarded an ISO 9001:2000 certificate. The Bank is a founder member of the “Cash Tree” consortium of 12 Banks with total

number of ATMs under the network to over 4500.

The bank has tie-ups with companies like Bajaj Allianz, TCS, Emami Bio-Tech Ltd, Western Union, Sree Kshetra Dharmasthala Rural Development Project, and RUDSETI etc.

The Bank is listed on the National Stock Exchange, Bombay Stock Exchange and Bangalore Stock Exchange.

The layout of the Bank is spacious and has proper seating arrangement (like chairs, sofa etc.) and water coolers too to make the customers feel comfortable upon their arrival in the bank.

SUGGESTIONS

The study has provided with the useful data from the respondents. There has a lot

to be recommended. Following are the recommendations:

There is a need for better promotion for the investment products & services. The

bank should advertise its products through television because it will reach to the

masses.

More returns should be provided on Insurance plans.

As the bank provides the Insurance facility to its customers. It should

provide this facility by tie up with the other Insurance organizations as well. The

main reason is that, the entire customers do not want Insurance of only one

company. They should have choice while selecting a suitable Insurance plans.

This will definitely add to the goodwill & profit for the bank.

CONCLUSION

There are very tough competition among the private insurance

companies on the level of new trend of advertising to lull a major part

of Customers.

Central Bank is not left behind in the present race of advertisement.

The entry of more Pvt. players in the Insurance Sector have expanded

The product segment to meet the different level of the requirement of

the customers. It has brought about greater choice to the customers.

Central Bank has vast market and very firm grip on its traditional

customers and monopoly of Baks products..

IRDA, is also playing very comprehensive role by regulating norms

mandating to private players in this sector, that increases the confidence

level of the customers to the private players.

BIBLIOGRAPHY

Web links

www.google.com

http://www.syndicatebank.in/scripts/ourprofile.aspx

Books

Manager's guide to  recruitment   and  selection Margaret Dale – 2004

Recruitment   and  selection : a framework for success Dominic Cooper, Ivan

T. Robertson, Gordon Tinline - 2003

Recruitment   and  selection : how to get it right MacMahon   - 2002