PROJECT REPORT

ON

BANK ACCOUNTING SYSTEMS ON CENTRAL

BANK OF INDIA, HALDWANI

Submitted for partial fulfillment of requirement of

Master of Business Administration (MBA)

SUBMITTED

BY

Shivangi Sharma

MBA Specialization
 FACULTY OF MANAGEMENT
KUMAUN UNIVERSITY, NANITAL

(Batch 2019)

DECLARATION

This project has been undertaken in the partial fulfillment of the requirement for the
award of the degree of Master of Business Administration. The project executed during the
second Semester

Further, I declare that this project is my original work and the analysis and findings are
for academic purpose only. This project has not been presented in any seminar or submitted
elsewhere for the award of any degree or diploma.
 Counter sign of the student

SHIVANGI SHARMA

MBA SPECIALISATION

Faculty of Management Bhimtal

KU Nainital

Roll no xxxxxxx

ACKNOWLEDGMENTS
The internship programme I formed with the Central Bank of India was a great opportunity
for learning and earning a lot of experience.

I would like to thank Mr. Tarun Bhauguna (Branch Manager) for his direction, assistance,
guidance, recommendations and suggestions invaluable for the project “BANK
ACCOUNTING SYSTEMS” of the Central Bank of India.

I thank my institute Department of Management Studies Bhimtal (KU Nainital) and The
Head of the Department, Professor Dr. L.k. Singh to provide me the great opportunity to
learn and extract valuable experience.

I also wish to thank Mr. Gaurav Sir, who has taught me Techniques of project making and
writing. Special thanks should be given to my friends, colleagues who helped me in many
ways.

Shivang
i Sharma

MBA Specialization

Department of Management Studies Bhimtal

Preface
 CONTENT
CHAPTER 1
Introduction 1
About the company 2
Profile of the company ………………………………………………………………………………………………………………3

Literature Review 4
CHAPTER 2
Research Methodology ………………………………………………………………………………………………………………….5

Scope of study ………………………………………………………………………………………………………………………… 6

Objectives of the study …………………………………………………………………………………………………………… 7

Sample size ………………………………………………………………………………………………………………………………8

Period of study …………………………………………………………………………………………………………………………9

Limitation of the study ……………………………………………………………………………………………………………10

Operational definitions of concepts …………………………………………………………………………………………….11

CHAPTER 3

Data analysis and interpretation ………………………………………………………………………………………………12

Chapter4

Suggestion ……………………………………………………………………………………………………………………………………13

Conclusion ……………………………………………………………………………………………………………………………………14

Bibliography …………………………………………………………………………………………………………………………………15

Annexure ………………………………………………………………………………………………………………………………………
16
 Chapter1

INTRODUCTION
INDUSTRY PROFILE
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 of India as the 'property
of the nation and the country's asset'. He also added that 'Central Bank of India lives on
people's faith and regards itself as the people's own bank'.

During the past 106 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:

192 Introduction to the Home Savings Safe Deposit

1 Schemeto build saving/thrift habits in all sections of
the society.

192 An Exclusive Ladies Department to cater to the

4 Bank's women clientele.

192 Safe Deposit Locker facility and Rupee Travellers'

6 Cheques.

192 Setting up of the Executor and Trustee Department.

9

193 Deposit Insurance Benefit Scheme.

2

196 Recurring Deposit Scheme.

2

Subsequently, even after the nationalisation of the Bank in the year 1969, Central Bank
continued to introduce a number of innovative banking services as under:

197 The Merchant Banking Cell was established.

6

198 Centralcard, the credit card of the Bank was

0 introduced.
 198 'Platinum Jubilee Money Back Deposit Scheme' was
6 launched.

198 The housing subsidiary Cent Bank Home Finance

9 Ltd. was started with its headquarters at Bhopal in
Madhya Pradesh.

199 Quick Cheque Collection Service (QCC) & Express

4 Service was set up to enable speedy collection of
outstation cheques.

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 all 29 States as also in 6 out of 7 Union
Follow Territories in India. Central Bank of India holds a very prominent place among the
Public Sector Banks on account of its network of 4659 Branches, 1 Extension
counters, along with 10 Satellite Offices (as on February 2019) at various centres
throughout the length and breadth of the country

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 has also
almost all major corporate houses in the country.

The bank was brought into existence by an ordinance on 19th July, for taking over the
undertaking of the central bank of India, ltd. in terms of the ordinance, the undertaking of
"the central bank of India, ltd." was transferred to and vested in the new bank. the ordinance
was replaced by the banking companies act, 1969. the act was declared null and void by the
supreme court on 10th February, 1970. an ordinance was thereupon promulgated which was
later replaced by the banking companies act, 1970 which was made effective retrospectively
from 19th July, 1969.
1970 - 83 offices were opened in the lead districts bringing the total number of offices in
such districts to 139 as at 31st December. a total of 817 branches were opened by the bank in
47 districts since Nationalization. 1982 - Rs 2,50,00,000 was subscribed by government.
1984 - One more regional rural bank was opened. Another 3 RRBs were set up in 1985,
raising the number of RRBs sponsored by the Bank to 23 covering 37 districts.
1985 - Rs 41.74 crores subscribed for by Government.
1995 - Rs 1256.46 crores subscribed for by Government.
1996 - Rs 500 crores subscribed for by Government.
1997 - The Bank acted as lead managers/co-managers in a few public/Rights issue besides
taking up underwriting commitments in a couple of issues. The bank also acted as bankers to
20 Mega Bond Issue of lead financial institutions.

VISION STATEMENT
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 STATEMENT
 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 customer’s 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.

BORD OF DIRECTORS

 Shri. Rajeev Rishi Chairman & Managing Director

 Shri Raj Kumar Goyal Executive Director
 Shri B.K. Divakara Executive Director
 Shri R.C. Lodha Executive Director
 Dr. Saurabh Garg, GOI Nominee Director
 Shri Shekhar Bhatnagar RBI Nominee Director
 Smt. N.S. Rathnaprabha Director
 Shri N. Nityananda Part Time Non Official Director

AWARD AND ACHIEVEMENTS

Central Bank of India awarded FIRST PRIZE for excellent implementation of

Official Language Policy of Government of India for the Year 2016-2017
Central Bank of India awarded Fintech Indian Award 2016 under category
Mobile Banking at function organized a Mumbai
Central Bank of India awarded Rajbhasha kirti puraskaar
Central Bank of India awarded with three ‘FIRST’ Prize for all the three
linguistic region under ‘RBI RAJBHASHA SHIELD SCHEME’.
Banking technology awarded to Central Bank of India
Central Bank of India awarded FIRST PRIZE for excellent implementation of
Official Language Policy of Government of India.

SUBSIDIARIES
1 CENTRAL FINANCIAL SERVICE LIMITED