Central Bank of India Signs MoU with Madhya Pradesh Police for ‘Cent Parakram’ Salary Account Scheme

Bhopal, March 8, 2026: Central Bank of India has signed a Memorandum of Understanding (MoU) with the Madhya Pradesh Police to provide specialized salary accounts for police personnel under the “Cent Parakram” Salary Account Scheme.

The agreement was executed by Dheeraj Goel, Zonal Head (Bhopal) of Central Bank of India, and Imreen Shah, Assistant Inspector General of Police (Welfare), in the presence of Anil Kumar, Special Director General of Police (Welfare).

Banking Support for Police Personnel

The partnership aims to deliver customized banking services and financial benefits to members of the Madhya Pradesh Police force. Under the Cent Parakram scheme, police personnel will receive enhanced salary account features, specialized banking services, and insurance coverage tailored to their professional needs.

Officials stated that the initiative is expected to strengthen financial inclusion and provide convenient banking access for the force.

Potential Onboarding of 1 Lakh Accounts

As part of the agreement, Central Bank of India may onboard around 1 lakh salary accounts for personnel of the Madhya Pradesh Police.

The bank highlighted that the Cent Parakram Salary Account offers several benefits, including:

• Customized banking services for police personnel

• Attractive insurance coverage

• Special financial privileges and banking facilities

• Dedicated support for members of the force

Strengthening Institutional Partnerships

The collaboration reflects Central Bank of India’s ongoing efforts to build strategic partnerships with government institutions and provide specialized banking solutions for public service professionals.

By introducing the Cent Parakram scheme for police personnel, the bank aims to support the welfare and financial security of law enforcement officers while expanding its salary account portfolio in the public sector.