Central Bank of India

Based on the financial capital of India, Mumbai, The Central Bank of India, is invariably one of the oldest and largest commercial banks in India. The central bank of India got recapitalized in 2009, and it now stands proudly as one of the eighteen public sector banks in the world's largest democracy. Built as an economic freedom dream of the then British ruled India, established in 1911, Central Bank of India was the very first Indian commercial bank. More power to it as then, it was the only Indian bank to be owned and looked after solely by the people of the land, the Indians. From then to now, the central bank of India has journeyed a long way, and now it hosts a joint venture with Bank of India, Bank of Baroda, and the Zambian government. The latest report in 2018, accounts for the Bank housing an entire network of 4685 branches and a total of 4886 ATMs, spread all across the country. It also owns ten satellite offices and 1 Extension Counter.                      

History of Central Bank of India

• Established by Sir Sorabji Pochkhanawala, in early 1911, in the then British ruled India, Central Bank of India was the first Indian commercial bank. A dream of its founder, unknown to its existence, somewhere it was the first step to monetary independence of them to be the most significant democracy in the future. This Bank was unique as it was owned and run by Indians.

• In the early twentieth century, by the year nineteen eighteen, this Bank had a branch established in Hyderabad, followed by another office in the nearby Secunderabad in 1925.
• It’s an alliance with the Bank of Shimla in trouble by nineteen twenty-three. It was then it acquired The Tata industrial bank. The industrial Bank that was established in nineteen seventeen later had a branch inaugurated in Madras in the year nineteen twenty.  This establishment then came to be known as the Central Bank of India, Madras.
• Central Bank of India was instrumental in Indian foreign history as it marks the creation of the first Indian exchange bank, the Central Exchange Bank of India.  It was established in nineteen thirty-six in London.
• At the onset of World War two, the Central Bank of India established a branch in Rangoon. Its financial operations were solely focused on business between Burma and India. Most of the assets and money of the Bank were lent out in the interests of Indian companies.
• After World War two came to an end, the later stages showed the nationalization of the Bank under the Indian government with thirteen other banks on nineteen July, nineteen sixty-nine.
• Central Bank of India also was one of the earliest banks in the year nineteen eighty in India to start the issue of credit cards in collaboration with MasterCard.
• The desire to be unique at every step never left the bank's side. On its one hundred eighth Foundation day, Central Bank of India launched its first step towards an artificial intelligence banking, that was robotic banking via a robot named "MEDHA."

Central Bank of India Services

This Bank provides a wide range of services that covers every nook and corner of your need.

Personal Banking

• • Deposit account
  • Retail loans
  • Digital banking
  • Cards

Corporate Banking

The corporate banking is an upcoming stream with loads and loads of aspirants. We salute this new generation of forthcoming corporate clients and have schemed various plans for varied services.

• Accounts_ CD account, cent silver,  cent gold,  cent diamond.
• Loans_ cent mortgage and cent rental.
• Services including CMS

Online banking

The broad approach of the Central Bank of India is very widely evident in its approach to the internet.  Online banking is a fast upgrading world, and a next-gen community prefers all of its transactions online. Available features are

• Internet banking
• Online savings account opening
• Online locker applications
• CMS corporate login
• National pension system. (NPS)

Central Bank of India Fixed Deposit Rates.

The Central Bank of India offers a Fixed Deposit rate of six point sixty-five percent (6.65%) on term deposits.  This is for a period of one year to one year, i.e., for a total of three sixty-four days. The bank also has special offers on FD interest rates for senior citizens. Current FD rates for senior citizens range from an impressive five Point thirty percent (5.30%) to seven point fifteen percent (7.15%.)

Awards

Central Bank of India has been honored by being awarded First Prize for exemplary implementation of Official Language Policy of Government of India in the Mumbai Metro regional area for the year two thousand sixteen to two thousand seventeen.