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Central Bank Of India overview

Central Bank Of India journey

• 1921: Central Bank Of India introduces the Home Savings Safe Deposit Scheme.
• 1924: A women's department is established to assist female clients.
• 1926: The bank introduces the Rupee Travellers' Cheques and Safe Deposit Locker facility.
• 1929: It sets up the Executor and Trustee Department.
• 1932: The Deposit Insurance Benefit Scheme is introduced.
• 1962: The Recurring Deposit Scheme is introduced.
• 1976: The bank establishes the Merchant Banking Cell.
• 1980: The bank's credit card, Centralcard, is introduced.
• 1986: The bank launches the 'Platinum Jubilee Money Back Deposit Scheme'.
• 1989: Cent Bank Home Finance Limited, the bank's housing subsidiary, begins its operations with its head office in Bhopal.
• 1994: Quick Cheque Collection Service and Express Service are set up for the quick collection of outstation cheques.
• 2001: The bank launches its voluntary retirement scheme.
• 2003: It allies with Canara Bank, UCO Bank, Indian Overseas Bank and Union Bank of India to launch the Cash Online ATM network.
• 2005: Central Bank of India amalgamates three sponsored regional rural banks in the state of Maharashtra. The new bank is called Vidharbha Kshetriya Gramin Bank.
• 2011: The Cent Double scheme is launched.
• 2014: The bank signs a memorandum of understanding with Tata Motors for commercial vehicle finance.
• 2021: It launches a Missed Call facility for loans and deposits.

Central Bank Of India - Initial Public Offer (IPO)

Central Bank Of India products

• Digital banking - net banking, debit card, credit card
• Deposits - savings accounts, time deposits, current accounts, recurring deposit schemes and small saving schemes.
• Retail loans - housing loans, education loans, vehicle loans, personal loans, loans to senior citizens and loans against property.
• Agriculture loan schemes - Cent Agri Gold Loan Scheme, Cent Flexi Agri Business Loan, etc.
• MSME banking - Cent Business Gold Loan, Cent Construction Equipment Finance Scheme, Cent Contractor, etc.
• Corporate banking services
• NRI banking
• Government business - Public Provident Fund, Sukanya Samriddhi Accounts, Senior Citizen Savings Scheme
• Facilities for pensioners

Central Bank Of India business highlights

Central Bank Of India performance highlights

Central Bank Of India management

Indian banking industry overview

Size of the Indian banking industry

• In 2022, the total assets in the public banking sector were ₹1,31,76,964 crore .
• There were 34 public banks licensed in India, as of September 2022.
• The assets of public sector banks made up the largest share of the country’s banking market.
• During FY2015-22, bank credit rose at a compound annual growth rate of 0.62%.

Banking industry growth prospects

Central Bank Of India growth prospects

Risks and concerns

• With the evolving macroeconomic situation, banking institutions have to take mitigating measures to reduce the effect on balance sheets.
• The right talent is required for the adoption of cloud-first tech architecture and platform-based technology.
• Banks witnessed 248 data breaches from June 2018 to March 2022 by offenders and hackers. Public sector banks reported 41 of them.

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