Nationalization of Central Bank of India

Hello sir I am Garima and I want to know what is the main objective behind Nationalization of Central Bank Of India???

[Shaleen]

Here I am telling you the main objectives behind nationalisation of Banks in India which is also meant for Central bank of India
Social Welfare:
It was the need of the hour to direct the funds for the needy and required sectors of the indian economy. Sector such as agriculture, small and village industries were in need of funds for their expansion and further economic development.
Controlling Private Monopolies:
Prior to nationalisation many banks were controlled by private business houses and corporate families. It was necessary to check these monopolies in order to ensure a smooth supply of credit to socially desirable sections.
Expansion of Banking :
In a large country like India the numbers of banks existing those days were certainly inadequate. It was necessary to spread banking across the country. It could be done through expanding banking network (by opening new bank branches) in the un-banked areas.
Reducing Regional Imbalance :
In a country like India where we have a urban-rural divide; it was necessary for banks to go in the rural areas where the banking facilities were not available. In order to reduce this regional imbalance nationalisation was justified:
Priority Sector Lending :
In India, the agriculture sector and its allied activities were the largest contributor to the national income. Thus these were labeled as the priority sectors. But unfortunately they were deprived of their due share in the credit. Nationalisation was urgently needed for catering funds to them.
Developing Banking Habits :
In India more than 70% population used to stay in rural areas. It was necessary to develop the banking habit among such a large population.

Hii Guys , Here I wan to know Is Central Bank of India Nationalized Bank and general information ,Will you please tell me for same ?

[Raman Vij]

Friend I want to tell you that Yes Central Bank of India Nationalized Bank .

Central Bank of India, is a Government-owned Bank .

It is one of the oldest and largest commercial banks in India.

It is Based in Mumbai which is the financial Capital of India

The Bank has 4600 Branches, 5000 ATM's and 4 extension Counters Across 27 Indian States and three Union Territories.

Number of employees 42000(approx)

Slogan of this Bank is : Build a better life around us

Products & Services :

Fire Insurance
Burglary Insurance
Engineering Insurance
Motor Insurance
Rural Insurance
Overseas Mediclaim Insurance
Package Insurance
Travel Insurance plan
Liability Insurance
Group personal Insurance
Group Insurance
Individual Mediclaim
Unit linked plan
Whole life plan
Children's plan
Money back plan
Endowment
Pension
Health Insurance
Group Insurance plan
Jeevan Plus
Bima bachat.

Customer Care Contact no :

Call Center Toll Free No.
1800 222 368 (Toll Free ) & 022-66387737 ,66387743
National Toll Free Number 1 : 1800 11 0001

National Toll Free Number 2 : 1800 180 1111

Corporate Office :

Central Bank of India
Chander Mukhi, Nariman Point
Mumbai – 400 021
Tel.: 022 – 6638 7777