After reporting profit for three consecutive quarters, Central Bank of India is out of mess with sharp reduction in net bad loans, revamping of working and human resources systems. Mumbai-based public sector bank expects to report profit in fourth quarter, setting stage for exit from Prompt Corrective Action (PCA) regime, according to its outgoing chief executive Pallav Mohapatra. His innings at state-owned bank ends today. Matam Venkata Rao, the new MD & CEO, he will take charge on March 1. On Friday (Friday 26, 2021) Central Bank shares closed 2.68 per cent lower at Rs 19.24 at BSE. Mohapatra said in FY20 the bank made profit for three quarters, but in the fourth quarter it had booked loss on rise in provision for exposures and retirement obligations on fall in interest rates. The bank made profits for three consecutive quarters in FY21.
Read more about Central Bank Q3 net up 6.45% at Rs 165 cr on better net interest and margin on Business Standard. Other income down 38% to Rs 774 crore; provisions & contingencies decline to Rs 7,437 crore from Rs 12,492 crore
January 07, 2021
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Central Bank of India (CBoI) and NABFOUNDATION, on Thursday, entered into a Memorandum of Understanding (MoU), whereby working capital will be provided by the bank to all self-help groups (SHGs) which have an account with it and undertake the Nabard-sponsored ‘My Pad My Right’ project.
“This cheap, collateral-free credit support is just what the rural women will need as they take up manufacturing on a regular basis,” said NABFOUNDATION, which is a wholly-owned subsidiary of the National Bank for Agriculture and Rural Development (Nabard), in a statement.
Under the project, one pad making machine will be sponsored per district across the country to a well-functioning SHG, along with the requisite capacity building support, with total grant support pegged at nearly ₹5 lakh per unit, according to the statement.
Central Bank of India Celebrates 110th Foundation Day by launching RUPAY SELECT DEBIT CARD and FASTAG
Posted On: 2020-12-22 05:33:52 (Time Zone: Arizona, USA)
Central Bank Of India Celebrated its 110th Foundation Day on 21st Dec. 2020, on this occasion Shri Pallav Mohapatara MD &CEO, Shri Alok Srivastava ED and Shri P P Panda CVO along with other Executives of the Bank paid floral tributes to the Founder of the Bank Sir Sorabji Pochkhanawala at their Corporate Office Nariman Point Mumbai.
Central Bank Of India in association with National Payments Corporation of India launched a new variant of Debit Card Product - RUPAY SELECT and FASTAG on the occasion of the Bank s Foundation Day on 21th Dec.2020. The card was unwilled by Pallav Mohapatra, Managing Director and CEO of the Bank and Mr. Dilip Asbe, MD and CEO of NPCI who joined the function virtually along with dignitaries from both the organizations.
Synopsis
Users of Central Bank RuPay Select Debit Card can avail complementary membership and concessional access to golf courses, gyms, spas and restaurants, the bank said.
ThinkStock Photos
The card will also offer airport lounge access to over 20 domestic and more than 500 international lounges along with accidental and permanent disability insurance cover up to Rs 10 lakh.
New Delhi: State-owned
Central Bank of India on Tuesday said it has launched contactless RuPay Select debit card in association with the National Payments Corporation of India (NPCI).
The card was launched by Central Bank of India MD and CEO Pallav Mohapatra in the presence of NPCI MD and CEO Dilip Asbe, at a virtual event on the bank s Foundation Day.