MUMBAI: The Central Bank of India, one of the largest nationalized banks of the country, has performed well last financial year and this enabled the Bank management to pay a hefty dividend and PNCPS amounting to Rs.373.27 crores to the Indian government for the year ending March 2013.
At a small function organized in the Office of Finance Minister P. Chidambaram, the Bank chairman and managing director M.V. Tanksale, along with Malay Mukherjee and R.K. Goyal, Executive Directors of the Bank, handed over a check for the amount to the Minister.
Besides Finance Minister P Chidambaram, those present on the occasion were Namo Narain Meena, Minister of State for Finance and Ms SnehLata Srivastava, Addl. Secretary, Department of Financial Services. During the check presentation event, Bank chairman M.V Tanksale felicitated the Finance Minister and appraised him about various activities taken by the Bank during the last year and the way forward.
The Bank recently opened a branch at Bharat Diamond Bourse, Mumbai. The Chairman and Managing Director M. V. Tanksale inaugurated the branch at a grand function attended by top diamond merchants from the Bourse and the top Bank officials. The Branch will cater to the banking needs of diamond merchants.
Meanwhile, the Central Bank that had cut its Base Rate to 10% from 10.25% with effect from July 15 in response to various measures taken by RBI, is now not going to review its decision and will continue with its reduced base rate, according to M.V. Tanksale, the CMD. He further stated that every effort will be made by the Bank to reduce the cost of deposits.
Diana Gabriel
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