Centurion Bank, Private Sector Banks In India

Centurion Bank has an extensive network of branches across India. Major shareholders of the Bank are Bank Muscat, Sabre Capital, Keppel Corporation, Singapore and Asian Development Bank.

Centurion Bank has merged with Bank of Punjab on June 29, 2005 to form Centurion Bank of Punjab at swap ratio to 4:9. This mean that for every four shares of Bank of Punjab, its shareholders will receive nine shares of Cunturion Bank.

The following is the pro-forma combined figures as of March 2005:

Branches and ext. Counters	235
ATMs	382
Number of Customers	2.2 million
Net Worth (Rs. Crores)	696
Total Assets	9,395
Deposits (Rs. Crores)	7,837
Operating Profit (Rs. Crores)	43

Centurion Bank NRI Services

Centurion Bank offers the following services to NRIs:

Bank Accounts and Deposits

NRE Accounts - Principal/interest repatriable
FCNR(B) - Principal/interest repatriable
NRO Accounts - Current earnings repatriable
Repatriation from NRO Balances

Other Investments on repatriation basis

Government dated securities/treasury bills.
Units of domestic mutual funds.
Bonds issued by a public sector undertaking (PSU) in India.
Shares in Public Sector Enterprises being dis-invested by the Government of India, provided the purchase is in accordance with the terms and conditions stipulated in the notice inviting bids.
Shares and convertible debentures of Indian companies under FDI scheme (including automatic route & FIPB).
Shares and convertible debentures of Indian companies through stock exchange under Portfolio Investment Scheme.

Other Investments on non-repatriation basis

Units of Money Market Mutual Funds in India.
The capital of a firm or proprietary concern in India, not engaged in any agricultural or plantation activity or real estate business.
Deposits with a company registered under the Companies Act, 1956 including NBFC registered with RBI, or a body corporate created under an Act of Parliament or State Legislature, a proprietorship concern or a firm out of rupee funds which do not represent inward remittances or transfer from NRE/FCNR(B) Accounts into the NRO Account.

Investment in immovable Property

May acquire immovable property in India other than agricultural/plantation property or a farmhouse out of repatriable and non repatriable funds
Housing Loan in rupees availed of by NRIs from ADs/Housing Financial Institutions can be repaid by the close relatives in India of the borrower.

May repatriate

Sale proceeds of immovable property acquired in India to the extent of repatriable funds used for acquiring the property, without any lock-in period, upto two residential properties. The balance will be repatriable through NRO Account subject to conditions mentioned at item (I)(d).
Refund of (a) application/earnest money/purchase consideration made by house-building agencies/seller on account of non-allotment of flats/plots and (b) cancellation of booking/deals for purchase of residential/commercial properties, together with interest, net of taxes, provided original payment is made out of NRE/FCNR(B) account/inward remittances.

Facilities to returning NRIs/PIOs

May continue to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India, if such currency, security or property was acquired, held or owned when resident outside India.
May open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to transfer balances held in NRE/FCNR(B) accounts. Proceeds of assets held outside India at the time of return, can be credited to RFC account. The funds in RFC accounts are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment in any form outside India.

Centurion Bank e-Pay Solutions

e-Pay payment solution facilitates a flexible, secure and a medium independent payment gateway service to online merchants and businesses. The merchants need not deviate from their customary operating procedures, as the solution slots into transaction systems that are already in place providing a secure payment authentication mechanism for settlement of transactions in various modes.

Centurion Bank offers solutions for the following:

B2B (Business-to-Business)
B2C (Business-to-Consumer)
Supply Chain integration with ERPs and SCM platforms

Centurion Bank Offices

Corporate Office
1201, Raheja Centre,
Free Press Journal Marg,
Nariman Point,
Mumbai - 400 021.
Tel: +91-22- 22047234/22047238
Fax: +91-22-22845860

Administrative Office
Centurion Bank Limited
Central Bombay Infotech Park
Ground Floor, 101
K. Khadye Marg
Mahalaxmi, Mumbai 400 011.
Board No. +91-22- 5554 0000
Fax No. +91-22- 5554 0011/22

Website of Centurion Bank

www.centurionbank.com