Central Bank of India

December 23, 2010

A commemorative postage stamp on 100 years of Central Bank of India, one of the oldest and largest government-owned commercial banks in India :

Issued by India

Issued on Dec 23, 2010

Issued for : Central Bank of India celebrated its Centenary Year during December 2010. To commemorate the event India Post is happy to issue a postage stamp on Central Bank of India.

Credits :
Stamp/FDC/Cancellation : Alka Sharma

Type : Stamp, Mint condition

Colour : Multi colour

Denomination : 500 Paise

Stamps Printed : 1.0 Million

Printing Process : Wet Offset

Printer : Security Printing Press, Hyderabad

About :

The Central Bank of India was founded on 21^st December 1911 by Sir Sorabji Pochkhanawala a visionary with a desire to start a commercial bank owned by Indians & for Indians. The birth of the Bank with its Indian shareholders, Indian staff and Indian customers was the crystallization of Sir Sorabji‘s dream of setting up a truly “Swadeshi Bank“. Sir Sorabji proclaimed with pride that Central Bank was the property of the nation and the country’s asset and added that, Central Bank lives on people’s faith.
After independence, India began a new life and accelerated the pace of industrialisation through its five-year plans to bring all round economic and social growth. In this scenario, the role of banking system had become crucial. Central Bank of India accepted the challenge of the times and steadily diversified and widened its activities to meet the changing economic progress. Central Bank of India has many firsts to its credits. It was the first to introduce a special ladies department. Introduce Safe Deposit Vault in Bombay in 1926 and launched its own credit card – “Centralcard“.
The story of Central Bank of India is one of resilience, innovation and sheer grit. It has grown to become one of the largest banks in India. Today, Central Bank of India caters for the service needs of Indians across the country. It has opened branches all over the country with a network of 3548 branches of which 1379 branches are functioning in the rural areas, 890 in semi-urban area and the remaining in Metros.
The bank has formulated schemes to bring the weaker sections of the society into the banking stream by distributing crores of rupees as loan to uplift their socio economic status.
Social Security Schemes such as ‘Janashree Bima Yojana‘ to provide life insurance cover to rural and urban women. ‘Rashtriya ‘Kishan Bima Yojana‘ to farmers, ‘Cent Janata Credit Cards‘, Rural Godowns and Warehouses / Cold Storages, Rural Development & Self Employment Training Institute, to provide entrepreneurship training to rural youth, ‘Indira Awas Yojana‘ to provide top-up loans for construction of dwelling units and ‘Kishan Sathi‘ scheme have been launched.
The Bank received the National Award 2009 for excellence in propagating Khadi & Village Industries.
Text : Based on material provided by the proponent.