Not any Branches are Going to Shut Down by Central Bank of India this FY

According to the recent news, it is widely circulated by media that the Central Bank of India has decided to close down its branches across the country to stabilise its financial position to be out from the PCA framework imposed by RBI and the Central Bank of India has been making losses for the past few years and this is one of the main reasons why it has taken this decision.

But today, the Central Bank of India clarifies in their press conference that there is not a decision has been finalised yet to close any of its branches.

Here is a glimpse of the Press release by DGM/Chief Marketing Officer S H Ayubi:

Press release by central Bank of India

No decision as of now to shut any branch in FY 2022-23 – Central Bank of India. It is reported in press / media regarding closure of Branches by Central Bank of India. We hereby inform that there is no decision as of now to close a large number of branches during FY 2022-23. However, it is a routine exercise for every Bank to re-align/shift/merge/close/open branches on regular basis to achieve corporate business objectives.

We assure our esteemed customers and all other stakeholders that their interest is well protected.

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