:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

CENTRAL BANK OF INDIA TO CONVERT CENT BANK FINANCIAL & CUSTODIAL SERVICES, ITS WHOLLY OWNED SUBSIDIARY INTO N.B.F.C.

Continuing with its steps to move into new forays, Central Bank of India, the leading Nationalised Bank, has decided to convert Cent Bank Financial & Custodial Services, its wholly owned subsidiary into Cent Bank Financial and has proposed to increase its capital base from Rs.10.00 lacc to Rs.10.00 crores, for which the Bank has already got approal from Registrar of Companies for change of its subsidiary's name. Bank has also sought approval from RBI to hike capital of its subsidiary.

In a parallel development, Central Bank of India is also in talks with Aviva Life Insurance for setting up an Insurance Distirbution Company.

These developments have been told by Sri S. Sridhar, Chairman & Managing  Director, Central Bank of India to The Economic Times today.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance-/banking/Central-Bank-to-convert-its-trusteeship-firm-into-NBFC/articleshow/5129200.cms

Posted by C.B.O.A., A.P.

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