Industry: Banking
Central Bank of India was founded in 1911 and is headquartered in Mumbai, India. It provides commercial and retail banking services in India. It operates in three segments: corporate and commercial, housing and retail, and agriculture. The corporate and commercial segment provides term loans for the acquisition, construction, or improvement of assets, as well as short-term loans, cash credit, export credit, and other working capital financing and bill discounting to the corporate and commercial customers, including mid-sized and small businesses, and government entities.
The bank also offers credit substitutes, such as letter of credit and guarantees. The housing and retail segment provides loans and advances for housing, retail trade, automobiles, consumer durables, education loans, and other personal loans, as well as various deposit services, such as current, savings, and fixed deposits for retail customers.
The agriculture segment offers direct financing to farmers for production and investment, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs. The bank also provides general banking services, including credit cards, debit cards, cash management and remittance services, collection services, and traveller’s cheques and gift cheques. In addition, it distributes third party life and non-life insurance policies and mutual funds on an agency basis. Further, the bank acts as an agent for various state governments and government of India for the collection of taxes and payment of pensions.
Last updated: December 18th, 2013
