Hello Mohan,
if you want to limit to 1 Mbps all traffic that goes from each branch router to the central site you need to use traffic shaping.
you can take advantage of Class Based Traffic Shaping:
http://www.cisco.com/en/US/docs/ios/qos/configuration/guide/reg_pkt_flow_per_cls_ps6350_TSD_Products_Configuration_Guide_Chapter.html
policy-map shape-1mbps
class default
shape average 1000000
! to call a child policy
service-policy policy_child
you can also implement a two level QoS by calling a CBWFQ child policy so that you emulate a pipe of 1 Mbps and you also provide differianted QoS to different traffic classes
see
if you like you can adjust the bandwidth parameter to 1 Mbps and EIGRP will use by default up to 50% of the stated BW for its updates
Hope to help
Giuseppe