CBI meaning in Public Sector Bank in India ?

Answer:

What is Central Bank of India mean?

Central Bank of India (CBI) is an Indian nationalised bank. It is under the ownership of Ministry of Finance , Government of India and is one of the oldest and largest nationalised commercial banks in India. It is based in Mumbai, the financial capital of India and capital city of state of Maharashtra.

Despite its name it is not the central bank of India; the Indian central bank is the Reserve Bank of India.

Although the NDA government has generally favored mergers among public sector banks in India, Central Bank of India has remained a separate entity owing to its pan-India presence. CBI is one of twelve public sector banks in India that was recapitalised in 2009.

As on 31 March 2021, the bank has a network of 4,608 branches, 3,644 ATMs, ten satellite offices and one extension counter. It has a pan-India presence covering all 28 states, Seven out of eight union territories and 574 district headquarters out of all districts in the country.

Central Bank of India has approached the Reserve Bank of India (RBI) for permission to open representative offices in Singapore, Dubai, Doha, and London.

reference

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