Historical Perspective (history of public sector banks)

 As India embarked on planned economic growth soon after independence, it, like any other
country, required a strong and efficient financial system to meet the diverse requirements of
credit and development.
 To achieve this goal, it used a mixed pattern of economic development and created a financial
system to support it.
 There are few parallels in the world to its success, particularly in bringing banking to the masses
and transforming the banking system into a powerful vehicle for advancing public policy.
 The rapid expansion of the banking system in terms of presence and penetration in the two
decades following bank nationalization in 1969 was impressive.
 By the 1990s, public sector banks controlled 90% of the country's banking business.
 By March 1992, all public sector banks had a fantastic branch network of 60,646 branches
spread across the length and breadth of the country.
 Even as the banking system's branch network expanded rapidly, it was clear by the early 1990s
that the efficiency of the financial system could not be measured solely by quantitative growth
in terms of branch expansion and growth in deposits/advances.
 The financial strength and operational efficiency of Indian banks and financial institutions
operating in a highly protected and regulated environment did not meet international
standards.
 Global and domestic developments necessitated corrections, primarily to strengthen the
financial system and bring it up to par with institutions abroad.
 As a result, beginning in 1992, a process of financial sector reforms was initiated as part of a
larger program of structured economic reforms.

(OR)
History of public sector banks
Emergence of public sector banks
The Central Government entered the banking business with the nationalization of
the Imperial Bank of India in 1955. A 60% stake was taken by the Reserve Bank of
India and the new bank was named State Bank of India. The seven other state
banks became subsidiaries of the new bank in 1959 when the State Bank of India
(Subsidiary Banks) Act, 1959 was passed by the Union government.[1]

The next major government intervention in banking took place on 19 July 1969
when the Indira government nationalised an additional 14 major banks. The total
deposits in the banks nationalised in 1969 amounted to 50 crores. This move
increased the presence of nationalised banks in India, with 84% of the total
branches coming under government control.[2]

Before the economic liberalisation

The share of the banking sector held by the public banks continued to grow
through the 1980s, and by 1991 public sector banks accounted for 90% of the
banking sector. A year later, in March, 1992, the combined total of branches held
by public sector banks was 60,646 across India, and deposits accounted for
₹1,10,000 crore. The majority of these banks was profitable, with only one out of
the 21 public sector banks reporting a loss.[3]

Liberalisation in the 2000s

The nationalised banks reported a combined loss of ₹1160 crores. However, the
early 2000s saw a reversal of this trend, such that in 2002-03 a profit of ₹7780
crores by the public sector banks: a trend that continued throughout the decade,
with a ₹16856 crore profit in 2008–2009.[3]

Mergers
The consolidation of SBI-associated banks started first by State Bank of India
merging its subsidiary State Bank of Saurashtra with itself on 13 August 2008.[4]
Thereafter it merged State Bank of Indore with itself on August 27, 2010.[5] The
remaining subsidiaries, namely the State Bank of Bikaner & Jaipur, State Bank of
Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of
Travancore, and Bharatiya Mahila Bank were merged with State Bank of India
with effect from 1 April 2017.

Vijaya Bank and Dena Bank were merged into Bank of Baroda in 2018.[6] IDBI
Bank was categorised as a private bank with effect from January 2019.[7]

On 30 August 2019, Finance Minister Nirmala Sitharaman announced the

government's plan for further consolidation of public sector banks: Indian Bank's
merger with Allahabad Bank (anchor bank - Indian Bank); Punjab National Bank's
merger with Oriental Bank of Commerce and United Bank (anchor bank - Punjab
National Bank); Union Bank of India's merger with Andhra Bank and Corporation
Bank (anchor bank - Union Bank of India); and Canara Bank's merger with
Syndicate Bank (anchor bank - Canara Bank).[8] The mergers took effect from 1
April 2020.

HISTORY OF CENTRAL BANK OF INDIA

https://www.centralbankofindia.co.in/en/about-us/profile

( from this link can u select only which is required I am finding difficult
to cut short)

Services provided of CBI

Services LINK
https://www.centralbankofindia.co.in/en

Aishwarya services I think these pics are enough

Facilities Available
Features
Cent Mobile app is a mobile banking application with enhanced features offered
by Central Bank of India. It is available for all leading mobile OS (Android, Apple
iOS). This new app is customized keeping in view your banking requirements. Cent
Mobile is a Smart, Simple and Secure application. All frequently required banking
services can be accessed through Cent Mobile. Users can access most of the
banking services anywhere any time through internet enabled handsets. Pre login
features are accessible to all without registration. Post login features can be
accessed by customers of the Central Bank of India after completing one time
registration process.

Pre Login Features:

●    Branch and ATM Locations - List of nearby ATMs or Branches. Contact details
of Admin Offices.

●    Map showing distance/driving directions for ATMs/Branches/Admin Offices.

●    Interest rates for Time Deposits/Retail Loan Schemes/ Forex rates.

●    Missed Call service for getting Account Balance or last few Transactions over
SMS.

●    Apply for a new Saving Account, Retail Loan or Credit Card.

●    Real time Notifications/Alerts regarding new launch/offers/modification in

schemes etc.
 ●    Contact Us - Provides List of all ROs and ZOs with their address and phone
numbers.  

●    Apply for Bajaj General Insurance

●    Apply for FASTag

●    FAQs option

●    Complaints

●    Demo videos

●    Products : Shows a list of central bank Products offered to customers.

●    Cent Bot  : A virtual assistant for Cent mobile application

Post Login Features:

●    Account Balance Enquiry/Account Details/Mini Statement.

●    Fund transfer to accounts with the Central Bank of India.

●    Fund transfer to other banks through NEFT/IMPS.

●    Open & Close Time Deposit Account.

●    Request for personalized ATM (Debit) Card.

●    Request for ATM (Debit) Card & Credit Card Blocking.

●    Cheque Book related functions.

●    Registration for getting an Account Statement over Email.

●    Donation to institution.

●    NEFT /IMPS Status Enquiry.

●    Debit Card Control (On/Off & Limit Setting) option.

 ●    Nomination Facility

●    Apply for 15 G/H

●    PPS (Positive Pay System) Registration and Enquiry

●    MMID generation 

●    Repeat Past Payments

●    Scheduled Fund Transfer

●    Biometric Login functionality

●    Standing Instructions

●    Cent UPI 

●    Insurance & Investments like PMSBY,PMJJBY,APY etc.

●    Download to PDF and EMAIL Transactions.

●    Add and Delete Beneficiaries