Central Bank of India has come up with a new facility named CentFast2India. The service has been launched to facilitate e-transfer of funds from USA.

"This facility offers a hassle-free funds transfer by remitters in the United States to beneficiaries in India through Internet banking," Central Bank's Chairman and Manging Director S Sridhar said.

"It gives freedom to the remitter in the United States to remit money at his convenience from any bank account anywhere in the US to any account in India," Sridhar said.

As a beginner, the maximum amount that can be remitted has been given an upper ceiling of $5000.

Sridhar indicated the bank's plan of action for the year saying that it would focus more on retail banking.

The bank has recently hiked deposit rates on selected maturities.

"Our focus was on the corporate sector last fiscal. This year we will focus on retail. We expect to increase our retail growth to 25 per cent in FY'11 from 20 per cent last fiscal," he said.