Central Bank of India

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This article is about an Indian commercial bank. For India's central bank, see Reserve Bank of India.

Central Bank of India is one of the oldest and largest commercial banks in India. It was established in 1911 by Sir Sorabji Pochkhanawala and was the first commercial Indian bank completely owned by Indians. The bank was nationalized by the Indian Governmenton 19th July, 1969, along with 13 other major commercial banks. The bank currently has 3 168 branches and 270 extension counters across 27 Indian states.

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The current Chairperson and Managing Director, Homai Daruwala, has initiated steps to bring this bank to a par with private-sector banks. She has taken decisions regarding computerization, ATM services and core banking. The bank is planning to introduce core banking solutions (CBS) in 1 000 branches.

As of 31 March 2006, the bank achieved a landmark in its history: crossing a business mix of Rs. 1,05,000.00 crores. The next target has been fixed at doubling this figure in the next three years. Krishnan Subbaraman, Executive Director of the bank, in his message to staff members, has called upon them to achieve the target and suggested some steps. One of these steps is to change the manner in which employees extend service to customers across different delivery channels. He has advocated the adoption of the '3R' principles when dealing with customers - recognition, respect and response. This is asserted to be the path to make customers experience 'Customer Delight'. Subbaraman is of the view that to be able to achieve the coveted goal of at least Rs.2,00,000.00 crores in three years' time, it is urgent to add large numbers of new customers to the bank's existing portfolio.