Central Bank of India is one of the largest commercial banks of the country.
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Deposits, lending and making investments are the main businesses of the bank and other than this general banking services are also provided by the bank. It has operations in agriculture also and the farmers can avail direct and indirect financing from the bank.
Direct financing is provided for production and investment, while indirect financing is provided for the development of infrastructure and providing credit to the suppliers of agricultural inputs. Central Bank of India is sponsor of 7 regional banks in Madhya Pradesh, Chhattisgarh, Bihar, Maharashtra, Uttar Pradesh and Rajasthan.
Central Bank of India was established in 1911 by Sir Sorabji Pochkhanawala. It was nationalized in 1969 by the Government of India. The bank has a network of 4700 branches and 5000 ATMs. A total of approximately 42000 people are employed by Central Bank of India. It is headquartered in Mumbai. Rajiv Rishi is the Chairman and Managing Director of the bank. Central Bank of India got approval from its Board of Directors on 2nd March 2016 for raising additional equity capital. It led to combined sale and purchase of 7 lakh shares.
Central Bank of India had a revenue of Rs. 41899.47 crore in latest financial year (2015-16). Its loss stood at Rs. 1418.19 crore. It has total market capitalization of Rs. 14486.03 crore.