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CENTRAL BANK OF INDIA

Jan 20, 2020 351

HISTORY:

Central Bank of India was started 1911.And the bank was the vision of Sir Sorabji Pochkhanawala. Of 29 states, CBI has presence in 27 states and 4 union territories. It has a network of 3656 branches and 178 extension counters.
Established in 1911, the Central Bank of India was the first commercial bank in India that was wholly owned and administered by the Indians. The establishment of the Bank was the definitive realization of the dream of Sir Sorabji Pochkhanawala, founder of the Bank. Sir Pherozesha Mehta was the first President of a true "Swadeshi Bank". In fact, such was the degree of pride that Sir Sorabji Pochkhanawala felt that proclaimed the Central Bank of India as the "property of the nation and the heritage of the country.He also added that the Central Bank of India lives on the faith of people and regards itself as the bank of the people.
In 2008 the Central Bank of India entered into the tie-up distribution with Kotak Mahindra Asset Management Company. Under this agreement, it will offer complete products of Kotak Mutual Fund products from the bank's branches.The Central Bank of India has signed a Memorandum Understanding with WMG, and the Academic Department of the University of Warwick. The MOU provides for several areas of cooperation, including the provision of fast loans for Indian students studying at WMG and the building of cooperative relations between the UK and India and the development of a low-cost housing project.
Among Public Sector Banks, the Central Bank of India can truly be described as an All India Bank, due to the distribution of its large network in 27 of 29 states as well as in 3 of the 7 Union Territories in India . The Central Bank of India occupies a prominent position among the Public Sector Banks due to its network of 3656 branches and 178 extension counters in various centers throughout the country.

It also has two subsidiaries and is named Centbank Financial & Custodial Services and Centbank Home Finance. Centbank Financial & Custodial Services offers specialized services and facilities to protect the investments and properties during the life of the owner and dispose them according to their will or confidence.Centbank Home Finance offers financial assistance for the construction, purchase, extension and renovation of homes.

DIRECTOR & CHAIRMAN: Rajeev Rishi