The full form of CBI is the Central Bank of India. CBI is a Government-owned bank. It is one of the oldest and largest commercial bank of India. It is headquartered in Mumbai. This bank has 4600 branches and more than 5000 ATMs all over India. It is one of the 18 Public sector banks in India. It has overseas offices at Nairobi and Hong- Kong and approaching to Reserve Bank of India to open representative offices in five more locations: Singapore, Dubai, Doha, and London. Sh. Rajeev Rishi is the current (as of July 2017) Chairman and Managing Director of Central Bank of India.

CBI Stands For

CBI Stands for Central Bank of India CBI a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai which is the financial capital of India and the capital city of the state of Maharashtra.

Central Bank of India

Central to You Since 1911

Central Bank of India Mumbai
TypePublic
Traded asBSE: 532885
NSE: CENTRALBK
IndustryBanking
Financial services
Founded21 December 1911; 108 years ago
HeadquartersMumbai, Maharashtra, India
Key peopleTapan Ray
(Non-Exe Chairman) Pallav Mahapatra
(MD & CEO)
RevenueIncrease ₹27,199.29 crores (US$3.8 billion)(2020)
Operating incomeIncrease ₹4,344.15 crores (US$610 million) (2020)
Net incomeIncrease ₹-1,121.35 crore (US$−160 million) (2020)
Total assetsIncrease₹356,435.85 crore (US$50 billion) (2020) 
Total equityIncrease₹5,709.76 crores (US$800 million) (2020) 
OwnerGovernment of India (92.39%) 
Number of employees33,481 (2020)
Capital ratio11.72% (2020)
Websitewww.centralbankofindia.co.in

History

This bank was founded on 21 December 1911 by Sorabji Pochkhanawala and Pherozeshah Mehta was its first chairman. In 1969, the Government of India nationalized this bank. Some of its pioneering services are given below:

  • In 1921, it introduced the Home Saving Safe Deposit Scheme to encourage saving habits in all sections of society.
  • In 1926, it introduced the Safe Deposit Locker facility and Rupee Travellers’ cheques.
  • In 1932, it introduced the Deposit Insurance Benefit Scheme.
  • In 1976, it established the Merchant Banking Cell.
  • In 1980, it introduced the Centralcard, the credit card of the Central Bank of India.
  • In 1986, it launched the Platinum Jubilee Money Back Deposit Scheme.
  • In 1994, it introduced the Quick Cheque Collection Service (QCC) for the speedy collection of outstation cheques.

Awards and Achievements

  • It received the first prize for the excellent implementation of the Official Language Policy of the Government of India in Mumbai for the year 2015-16.
  • It was awarded the Fintech India Award 2016 under the category of Mobile Banking.
  • It received the three first prizes for all the three linguistic regions under RBI RAJBHASHA SHIELD SCHEME.
  • It received the banking technology award for the best technology initiative in 2016.

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