Central Bank of India has officially opened its International Financial Services Centre (IFSC) Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City) on June 29, 2026. The facility was inaugurated in the presence of the bank's Managing Director and Chief Executive Officer, Kalyan Kumar, along with senior officials of the bank. As per PTI, this strategic move represents the public sector bank's commitment to expanding its international banking capabilities and serving corporate clients more effectively through India's premier international financial services hub. Speaking on the occasion, Kumar emphasized the bank's commitment to supporting India's growing integration with global financial markets and serving the international aspirations of both existing and prospective customers, thereby aligning with the national vision of developing GIFT City as a leading global financial hub.
The bank's IBU will be specifically designed to cater to the foreign currency funding requirements of its corporate clients through a comprehensive range of financial products and services. The newly established unit will offer foreign currency loans, trade finance solutions, treasury products, risk management solutions and other specialized banking services tailored for corporate clients with global business requirements. As per PTI, the IBU will operate as the bank's offshore banking arm, transacting in foreign currency and offering a comprehensive suite of International Banking services including Cross-Border Banking Solutions, Foreign Currency Deposits, Investment Banking Services and Foreign Currency Loan Solutions. These services are designed to meet the evolving needs of businesses engaged in international trade and cross-border transactions, enabling efficient access to foreign currency financing and international banking services through India's own financial gateway.
Central Bank of India has announced the convening of its 19th Annual General Meeting (AGM) on Friday, July 31, 2026 at 3:00 PM IST, to be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The Central Office of the Bank situated at Chandermukhi, Nariman Point, Mumbai – 400021 shall be deemed the venue of the meeting. The AGM will seek shareholder approval for a Special Resolution authorising the Board to raise equity capital aggregating up to ₹7,000 crore through various modes including Qualified Institutional Placement (QIP), Follow-on Public Offer (FPO), or Rights Issue. The bank's Capital Adequacy Ratio (CRAR) stood at 17.91% as of March 31, 2026, comprising Tier-I of 15.61% (including Capital Conservation Buffer) and Tier-II of 2.30%. The paid-up equity share capital as on March 31, 2026 was ₹9,051.40 crore against an authorised capital of ₹10,000 crore.
This development positions Central Bank of India to better serve the international banking needs of its corporate clientele through the specialized services offered at the GIFT City facility. The launch strengthens the bank's international banking presence and supports GIFT City's growth as a global financial hub. The establishment aligns with the bank's long-term strategy of diversifying its business operations and strengthening its corporate banking franchise in international markets. The move is expected to enhance the bank's capabilities in serving globally active businesses and support Indian corporates seeking efficient access to foreign currency financing through India's rapidly developing international financial services ecosystem. As per PTI, the IBU will provide trade finance, treasury and correspondent banking capabilities to Corporates, Institutions and Eligible Customers across the globe, further expanding the bank's global banking footprint.
