Central Bank of India

Central Bank of India is one of the oldest commercial banks in India, and reportedly is the first truly Indian bank which was wholly owned and created by Indian without foreign help.

Sir Sorabji Pockhanawala was the founder of the bank which had always dreamed of creating a thoroughly Indian bank was so happy and excited about the project, he allegedly called the Central Bank of India as "property of the nation and its assets." The first president of the bank was Sir Pherozesha Mehta, another Indian enthusiast. In year 1969 the bank was nationalized by the government of India.

Key attributes: 

Central Bank of India claims to be the first bank to be conferred with National Award for Excellence in the micro and small enterprises (MSE) Lending years 2007-08.

The Bank entered into a partnership with Kodak Mahindra Assets Management Company in December 2008, after which all Kotak Mutual Fund, which will be made available through the Central Bank of India branch.

Products and Services: 

Central Bank of India offers a host of banking services to its customers, including regular Banking Services such as deposits and loans, International Banking and other services, including central cards electronic cards, debit cards, no-frills savings account under the name Cent Bachat khata and Finance Opportunities for domestic and international tours under the name Cent Safar.

Presence in India: 

Central Bank of India has a strong presence in the country with over 3,000 branches and more than 250 extension counters in the country in April 2009. The headquarters of the bank situated in Mumbai, the financial capital of India, along with 16 other zones set up in different cities in the country, including Agra, Ahmedabad, Bhopal, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Lucknow, Mumbai Metro area -Office, Muzaffarpur, Nagpur, New Delhi, Patna, Pune and Raipur. 

1970 to 83 offices were opened in Lead Development brings the total number of offices in these districts to 139 per 31 December. A total of 817 branches were opened by the bank in 47 districts since nationalization.

1982 - Rs 2, 50, 00,000 were signed by the government.

1984 - A more regional rural bank was opened. Another 3 RRBs were established in

1985, increasing the number of RRBs sponsored by the bank to 23, covering 37 districts.

1985 - Rs 41.74 crores signed by the government.

1995 - Rs 1256.46 crores signed by the government.

1996 - Rs 500 crores signed by the government.

1997 - The Bank acted as lead managers / co-leaders in a pair of public / rights issue in

addition to taking up commitments a couple of questions. The Bank also acted as bankers

to 20 Mega Bond Issue of lead financial institutions.

- The Bank has taken several steps to canvass new export products and reduce the time in meeting the credit requirements of existing customers in the bank. The Bank fully computerized its International Business branch on three major international companies branches in Bombay, Calcutta and New Delhi.

- Cent Bank Financial & Custodial Services Ltd., Cent Bank Home Finance Ltd, are subsidiaries of the bank.

- Indo Zambia Bank Ltd. is a joint venture of the bank along with Bank of Baroda, Bank of India and Government of the Republic of Zambia.

1998 - On 31 March is the total number of branches was 3079 and the total number of extension counters increased from 229 to 232 from the previous year.

- Under the direction banking system, the bank was awarded the 39 districts in six states.

2000 - Dalbir Singh has been appointed CEO and Chairman of Central India in five years, from July 17 to June 30, 2005.

- Central Bank of India has received the Asian Bankers' Award 2000 for its business magazine Focus in the category of marketing, public relations and brand management.

- Central Bank of India has introduced 7-day banking in selected computerized branches in Chennai, covering the sections in Adyar, Mylapore, Pallavaram, T Nagar, Kodambakkam and Washermanpet and Mogappair.

2001 - The Bank has launched its pension reform (VRS) for a period of 15 days from February 22 to March 8, 2001.

- Central Bank of India has created a first of its kind, customer information desk in Delhi's Vikas Sadan.

- Central Bank of India will launch a private placement of tier-2 bonds to rise up to RS 200 crore.

- The state-run Central Bank of India (Central Bank) plans to raise Rs 250 crore to strengthen its Tier-II capital through private placement.

2003 - Central Bank of India (CBI), together with Canara Bank, Indian Overseas Bank (IOB), UCO Bank and Union Bank of India (UBI) has entered into an alliance to launch 'Cash Online' ATM network.

2004 - Central Bank of India ties up with New India Assurance Company Ltd for distribution of life insurance cover

-Central Bank unveils new trading at NDS

2008 - Central Bank of India has appointed Shri. MS Johar as a part-time position of non-official Director under Chartered Accountant category on the board of Bank for a period of 3 years WEF 02 januar de 2008.

- Central Bank of India has rolled out the Visa Platinum and Visa Gold cards for domestic and international acceptance. The cards will offer facilities such as revolving credit, reward points, balance transfer facility and SMS messages. Central Bank has a debit and credit card base of around four lakh customers.

- Central Bank of India has informed that Shri J. Noble, Deputy General Manager of the Bank, has been appointed as Compliance Officer for the bank instead Shri SR Shukla.

2009 - Central Bank of India will focus on car financing in a big way, and to achieve this goal, the bank Sept. 25 tied up with Hyundai Motor India Ltd. Under this scheme, the Central Bank of India provide loans for the purchase of Hyundai cars.