Central Bank of India
|This article relies on references to primary sources. (December 2008)|
BSE & NSE:CENTRALBK
|Founded||21 December 1911|
|Key people||Shri. Rajeev Rishi, Chairman & Managing Director|
|Revenue||191495 million (US$3.1 billion) (2010-11)|
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. 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 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.
As on 31 March 2011, the bank's reserves and surplus stood at 68688 million. Its total business at the end of the last fiscal amounted to 2,097573 million.
It was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozeshah Mehta as Chairman, 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. The Tata bank, established in 1917, had opened a branch in Madras in 1920 that became the Central Bank of India, Madras.
Central Bank of India was instrumental in the creation of the first Indian exchange bank, the Central Exchange Bank of India, which opened in London in 1936. However, Barclays Bank acquired Central Exchange Bank of India in 1938.
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. 402000 Cr. Net Profit-Rs. 1015 Cr. On 1 August Central Bank of India appoints new CMD Rajiv Rishi, who was previously ED of Indian Bank and General Manager of OBC. Raj Kumar Goyal new ED of the bank.1 November 2013 Bank open 2nd Representative Office at Hongkong.
Citations and references
- [dead link]
- Central Bank of India. Central Bank of India (19 April 2011). Retrieved on 6 December 2013.
- "18 govt banks to be recapitalised". Business-standard.com. 18 February 2009. Retrieved 2 August 2010.
- "Central Bank of India to expand overseas". Rediff.com. Retrieved 2 August 2010.
- "Central Bank IPO to open on 24 July". The Hindu (Chennai, India). 14 July 2007. Retrieved 5 July 2008.
- Raychaudhuri et al., eds. (1983), Vol. 2, p.782.
- Raychaudhuri, Tappan, Irfan Habib, & Dharma Kumar, eds. (1983) The Cambridge Economic History of India: Volume 2, c.1751-c.1970. (CUP Archive). ISBN 9780521228022
- Central Bank of India IFSC Code SWIFT MICR No BSR Codes of all Branches
- Central Bank of India Official website
- Central Bank of India MICR code of all branches
- Central Bank of India ATM Locations