A bust of the Bank’s founder Sir Sorabji Pochkhanawala was installed on the 111th Foundation Day of the Central Bank of India (CBI), December 21, 2021 at their corporate office in Nariman Point. The founder’s granddaughter, honorary consulting ear, nose and throat surgeon at Saifee and The B. D. Petit Parsee General Hospitals, Dr Pilloo Hakim participated in the unveiling ceremony.
Top, from l: Dr Pilloo Hakim, M. V. Rao, Rajeev Puri, Alok Srivastava
with bust of Sir Sorabji Pochkhanawala:
above: at a party given by the staff of the Central Bank of India to felicitate
Pochkhanawala (standing right) on his knighthood in 1934
Photo: Barons of Banking: Glimpses of Indian Banking History
A press note from the CBI states that the managing director and chief executive officer M. V. Rao along with executive directors Alok Srivastava and Rajeev Puri paid floral tributes to Pochkhanawala. Hakim thanked the Bank management for remembering the founder’s family every year on the Foundation Day function and also extended her best wishes to the Bank.
The CBI’s communication stated that the occasion also saw the launch of "various customized products.” Their corporate internet banking portal has been revamped, as has their app for passbooks, among other enhanced facilities. "New initiatives for employees were also introduced.” Emphasizing the customer centric products now launched, Rao appealed to employees of the Bank to "perform with passion to improve the position amongst peer banks.”
Parsi Lustre on Indian Soil mentions Pochkhanawala, "having been refused the managership of the Mercantile Bank, started the CBI in 1911with the assistance of Sir Pherozeshah Mehta” who served as the new Bank’s first chairman. Pochkhanawala chaired the Ceylon Banking Commission and was invited by the government "in connection with the establishment of a state bank,” states the tome. The senior banker was knighted in 1934.
The first commercial bank to be wholly owned and managed by Indians, according to their website, CBI operates in 28 states in the country with a network of over 4,500 branches.
F. J.