Know Your Bank: Central Bank of India

As part of our Know your Bank series, we are today sharing detailed information of Central Bank of India. We hope this will help you.

Central Bank of India was established in 1911. It was the first Indian commercial bank which was wholly owned and managed by Indians.

Chairman & Managing Director – Shri. Rajeev Rishi

Headquarter – Mumbai

Tagline: Build A Better Life Around Us, Central to you since 1911

Central Bank of India holds a very prominent place among the Public Sector Banks on account of its network of 4703 Branches, 4 Extension  counters, along with 29 Satellite Offices (as on September 2015) at various centers throughout the length and breadth of the country.

Sir Pherozesha Mehta was the first Chairman of a truly ‘Swadeshi Bank‘.

Among the Public Sector Banks, Central Bank of India can be truly described as an All India Bank, due to distribution of its large network in all 29 States as also in 6 out of 7 Union Territories in India.

Products and Services:

Central Bank of India offers a host of banking services to its customers including Regular Banking Services such as

1. Deposits and Loans,

2. International Banking Services, and

3. Other services including Central card Electronic Cards, Debit Cards, No-Frills Savings Deposit Account under the name Cent Bachat Khata, and Finance options for domestic and international tours under the name Cent Safar.

Achievements:

Central Bank of India has been pioneer in introducing various services. Some of those can be listed as below:

1. Introduced Home Savings Safe Deposit Scheme for building thrift/savings habits in 1921.

2. Opened up an exclusive Ladies Department for the women customers in 1924.

3. Safe Deposit Locker facility in 1926.

4. Set up Executor and Trustee Department in 1929.

5. Deposit Insurance Benefit Scheme in 1932.

6. Recurring Deposit Scheme in 1962.

Awards:

1. Central Bank of India received “Financial Advisor Award – Best PSU Bank” National Category for the year 2012-13, by CNBC TV 18, UTI MF.

2. Central Bank of India claims to be the first bank to be conferred with the National Award for Excellence in Micro and Small Enterprises (MSE) Lending for the year 2007-08.

Thanks!