Central Bank of India
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This article relies on references to primary sources. (December 2008) |
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| Type | Public BSE & NSE:CENTRALBK |
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| Industry | Financial Commercial banks |
| Founded | 21 December 1911 |
| Headquarters | Mumbai, India |
| Key people | Shri M V Tanksale, Chairman & Managing Director |
| Revenue |  19149.50 crore (US$3.5 billion) (2010-11)[1] |
| Website | www.centralbankofindia.co.in |
Central Bank of India (Marathi: सेंट्रल बँक ऑफ इंडिया), a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai.[2] The bank has 4100 branches and 270 extension counters across 27 Indian states and three Union Territories. At present, Central Bank of India has one overseas office, which is a joint venture with Bank of India, Bank of Baroda, and the Zambian government. The Zambian government holds 40 per cent stake and each of the banks has 20 per cent. Recently it has also opened a representative office at Nairobi, Kenya.
Central bank of India is one of 18 Public Sector banks in India to get recapitalisation [3] finance from the government over the next 24 months.
Central Bank of India has approached the Reserve Bank of India (RBI) for permission to open representative offices in five more locations - Singapore, Dubai, Doha, London and Hong Kong.[4]
As on 31 March 2011, the bank's reserves and surplus stood at 6,868.85 crore. Its total business at the end of the last fiscal amounted to 2,09,757.33 crore.
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History [edit]
It was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozesha Mehta as Chairman,[5] and claims to have been the first commercial Indian bank completely owned and managed by Indians.
In 1923, it acquired the Tata Industrial Bank in the wake of the failure of the Alliance Bank of Simla.
In 1969, the Indian Government nationalized the bank on 19 July, together with 13 others.
In the 1980s the managers of the London branches of Central Bank of India, Punjab National Bank, and Union Bank of India were caught up in a fraud in which they made dubious loans to the Bangladeshi jute trader Rajender Singh Sethia. The regulatory authorities in England and India forced all three Indian banks to close their London branches.
Central Bank of India was one of first bank to issue credit cards in the year 1980 in collaboration with MasterCard Central Bank of India announces Financial Result for year ended 2013-Total Business Rs.420000Cr. Net Profit-Rs.1015Cr. Now Central Bank of India having more than 4238 branches in India with more than 2600 ATMs
See also [edit]
References [edit]
- ^ http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=532885
- ^ https://www.centralbankofindia.co.in/site/MainSite.aspx?status=1&menu_id=9
- ^ "18 govt banks to be recapitalised". Business-standard.com. 2009-02-18. Retrieved 2010-08-02.
- ^ "Central Bank of India to expand overseas". Rediff.com. Retrieved 2010-08-02.
- ^ "Central Bank IPO to open on 24 July". Chennai, India: The Hindu. 2007-07-14. Retrieved 2008-07-05.
External links [edit]
- Central Bank of India Official website
- [1]
- [2]
- Find IFSC Code of all CentralBank Of India branches in India, or Branch Details by IFSC Code
- Central Bank of India MICR code of all branches
- Central Bank of India ATM Locations
