Central Bank of India

Hello sir I would like to know the history of Central Bank of India so please provide me information about this bank.

[Pathak]

Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai.

History

It was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozeshah Mehta as Chairman.

By 1918 it had established a branch in Hyderabad. A branch in nearby Secunderabad followed in 1925.

In 1923, it acquired the Tata Industrial Bank in the wake of the failure of the Alliance Bank of Simla.

The Tata bank, established in 1917, had opened a branch in Madras in 1920 that became the Central Bank of India, Madras.

Central Bank of India was instrumental in the creation of the first Indian exchange bank, the Central Exchange Bank of India, which opened in London in 1936.

Barclays Bank acquired Central Exchange Bank of India in 1938.

The branch's operations concentrated on business between Burma and India, and especially money transmission via telegraphic transfer.

Profits derived primarily from foreign exchange and margins.

The bank also lent against land, produce, and other assets, mostly to Indian businesses.

About the CBI

Native name-सेन्ट्रल बैंक ऑफ़ इंडिया

Type Public company

BSE & NSE:CENTRALBK

Industry Financial

Commercial banks

Founded 21 December 1911; 104 years ago

Headquarters Mumbai, Maharashtra, India

Key people

Shri. Rajeev Rishi, Chairman & Managing Director

Revenue 283030 million (US$4.2 billion) (2014-15)

Number of employees-42000(approx)