Central Bank of India or CENTRALBK

It was established in the year 1911 with the vision of Sir Sorabji Pochkhanawala. And out of 29 states, the CBI has its presence in at least 27 states and four union territories which makes it a network of 3656 branches and other 178 extension counters. It was also the first Indian commercial Bank which was wholly owned and managed by only Indians. Also, the establishment of this Bank was the ultimate realization or aim of the dream of Sir Sorabji Pochkhanawala, the one who was the founder of the Bank. Then, Sir Pherozesha Mehta also became the first Chairman of a truly 'Swadeshi Bank.' And this was the extent of pride which was felt by the Sir Sorabji Pochkhanawala that he proclaimed the Central Bank of India as the 'property of the nation and one of the country's asset.' He also said that 'Central Bank of India lives on people's faith and their regards itself as the people's bank.' Soon in 2008, the Central Bank of India also entered into a distribution tie-up with the Kotak Mahindra Asset Management Company. According to this agreement, it will offer the entire products of the Kotak Mutual Fund products from the Bank's particular branches. The Central Bank of India also signed a Memorandum of Understanding with WMG, and even with an Academic Department located at the University of Warwick. The MOU also provides several areas of cooperation which include any provision of the fast–track loans for Indian students who are studying at the WMG and the building of cooperative relationships between the UK and the Indian business and also the development of a comparatively low-cost housing project. Among such Public Sector Banks, the Central Bank of India is indeed described as an All India Bank, as it has the distribution of its extensive network in which 27 out of 29 States and 3 out of 7 Union Territories of India are included. This Bank holds a very prominent place among the other Public Sector Banks if we keep in account its network of 3656 branches and 178 extension counters at various centers across India.

Some of its Product and Services:

Individual and NRI– This service offers various products and services which include savings account, and deposits, and mutual funds, debit card, credit card, and NRI account, and Money transfer facility, and remittance facility, various other loan facilities, senior citizen account, and many more.

Corporates– It offers a various wide range of both products and services such as corporate accounts, and loans, and RTGS, and NEFT, CMS, and many more.

Rural– It provides financial assistance and also offers a wide range of products and services catering to its various requirements or needs.

It also has two subsidiaries, which are Centbank Financial & Custodial Services and the Centbank Home Finance. The Centbank Financial & Custodial Services provides some of the specialized services and also facilities to protect investments and estates during the owner's lifetime and then dispose of them according to their trust or will. The Centbank Home Finance provides financial assistance for the construction, and purchase, and extension, and renovation of the home.

The milestones:

2010 – The Central Bank of India has launched a new facility named CentFast2India to remit funds online from the United States to India in a quick manner.
2011 – The Central Bank of India has launched Cent Double scheme which was designed to offer double of the money and was deposited by the depositor, in approximately seven and a half years.

In 2011, the Department of an official language, the Ministry of Home Affairs also presented the second prize to Dr. Ram S.Sangapure, the General Manager of MMZO of Central Bank of India for the best implementation of the official language in all the Zonal offices.
In January 2011, the Central Bank of India was awarded SKOCH Award for its outstanding performance in the JEEVIKA Project in Bihar. The significant contribution of the Bank is in the socio-economic growth of the underprivileged population who are living below the poverty line in the State via Self Help Group.

2012 – The Central Bank of India has won the prestigious 'GOLDEN PEACOCK HR EXCELLENCE AWARD.'

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