Central Bank image

Information of Central Bank of India on a page

Information of Central Bank of India on a page

History of Central Bank of India 

Established in 1911, Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians. The establishment of the Bank was the ultimate realisation of the dream of Sir Sorabji Pochkhanawala, founder of the Bank. Sir Pherozesha Mehta was the first Chairman of a truly ‘Swadeshi Bank’. In fact, such was the extent of pride felt by Sir Sorabji Pochkhanawala that he proclaimed Central Bank of India as the ‘property of the nation and the country’s asset’. He also added that ‘Central Bank of India lives on people’s faith and regards itself as the people’s own bank’.





During the past 106 years of history the Bank has weathered many storms and faced many challenges. The Bank could successfully transform every threat into business opportunity and excelled over its peers in the Banking industry.

A number of innovative and unique banking activities have been launched by Central Bank of India and a brief mention of some of its pioneering services are as under:

1921 Introduction to the Home Savings Safe Deposit Schemeto build saving/thrift habits in all sections of the society.
1924 An Exclusive Ladies Department to cater to the Bank’s women clientele.
1926 Safe Deposit Locker facility and Rupee Travellers’ Cheques.
1929 Setting up of the Executor and Trustee Department.
1932 Deposit Insurance Benefit Scheme.
1962 Recurring Deposit Scheme.

Subsequently, even after the nationalisation of the Bank in the year 1969, Central Bank continued to introduce a number of innovative banking services as under:

1976 The Merchant Banking Cell was established.
1980 Centralcard, the credit card of the Bank was introduced.
1986 ‘Platinum Jubilee Money Back Deposit Scheme’ was launched.
1989 The housing subsidiary Cent Bank Home Finance Ltd. was started with its headquarters at Bhopal in Madhya Pradesh.
1994 Quick Cheque Collection Service (QCC) & Express Service was set up to enable speedy collection of outstation cheques.


Further in line with the guidelines from Reserve Bank of India as also the Government of India, Central Bank has been playing an increasingly active role in promoting the key thrust areas of agriculture, small scale industries as also medium and large industries. The Bank also introduced a number of Self Employment Schemes to promote employment among the educated youth.

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. Central Bank of India holds a very prominent place among the Public Sector Banks on account of its network of 4715 Branches, 1 Extension counters, along with 10 Satellite Offices (as on January 2018) at various centres throughout the length and breadth of the country

Customers’ confidence in Central Bank of India’s wide ranging services can very well be judged from the list of major corporate clients such as ICICI, IDBI, UTI, LIC, HDFC as also almost all major corporate houses in the country.

Corporate Vision

To emerge as a strong, vibrant and pro-active Bank/Financial Super Market and to positively contribute to the emerging needs of the economy through consistent harmonization of human, financial and technological resources and effective risk control systems.

 

Corporate Mission

  1. To transform the customer banking experience into a fruitful and enjoyable one.
  2. To leverage technology for efficient and effective delivery of all banking services.
  3. To have bouquet of product and services tailor-made to meet customers aspirations.
  4. The pan-India spread of branches across all the state of the country will be utilized to further the socio economic objective of the Government of India with emphasis on Financial Inclusion.

 

Subsidiaries of Central Bank of India

1. Centbank Financial Services Limited

Incorporation In the Year 1929
(A wholly-owned subsidiary of Central Bank of India)
Vision To be the leading Indian investment bank creating enduring values for customers
Mision To provide investment banking services in the areas of corporate finance, advisory, capital markets & trusteeship and achieve overall business growth through superior customer satisfaction, innovation, quality and commitment.
Investment Banking Services (All India)
Debt Syndication
Financial Modeling and Valuation
M&A Advisory
Corporate Restructuring
Reverse Mergers
Equity Carve Outs
Spin Offs
Split offs
Asset Sale
Equity Products
IPOs / FPOs
Rights Issue
Warrants Issue
Private Equity
ADR / GDR / IDR
Private Placements
Venture Capital
Investment Grade Debt
Leverage First and second Lien Debt
Structured Equity
Growth Capital
Mezzanine / Subordinate Debt
Equity Research
Wealth and Portfolio Management
Trusteeship Services (At present only in Mumbai)
Debenture Trusteeship
Securities Trusteeship
Executor of Will
Administrator of an Estate
Trustee under a Will/Voluntary or Living Trust
Trustee for Public, Charitable and Religious Trusts
Trustee of Trust created by Policies issued under Married Women’s Property Act
Guardian of Minor’s property
For further details and information click here or contact us at
Centbank Financial Services Ltd
(Formerly Centbank Financial & Custodial Services Ltd; The Central Bank Executors & Trustee Co Ltd)

15-16, Bajaj Bhavan,
Nariman Point, Opp. Inox Cinema / CR2,
Mumbai400021.
Tel: (022) 22022788 / 5018
Fax: (022) 22025043
E-mail:
Website: www.cfsl.in

Information of Central Bank of India on a page

Information of Central Bank of India on a page

Information of Central Bank of India on a page

Information Source: https://www.centralbankofindia.co.in

Leave a Reply

Your email address will not be published. Required fields are marked *