Central Bank of India has announced comprehensive changes to its senior management structure, promoting nine officers to key leadership positions effective April 1, 2026. The appointments were disclosed under Regulation 30 and 51 of the SEBI (LODR) Regulations, 2015, highlighting the bank's focus on strengthening its leadership team through internal promotions.

Chief General Manager Appointments

The bank has elevated three senior officers to Chief General Manager positions, recognizing their extensive banking experience and specialized expertise.

Shri Sohail Ahmad brings significant expertise with his ICWA (INT) qualification and Bachelor of Commerce degree, along with certification from the Indian Institute of Banking and Finance (IIBF). Shri Kushal Pal holds a Master's degree in Public Administration and IIBF certification, currently overseeing human capital management functions. Smt Kavita Thakur possesses strong academic credentials with Master's degrees in Economics and MBA in Banking and Finance, plus specialized certification in resolution of stressed assets under the Insolvency and Bankruptcy Code.

General Manager Promotions

Six officers have been promoted to General Manager positions, spanning various operational areas and geographical zones.

Leadership Strengthening Strategy

These promotions demonstrate the bank's commitment to nurturing internal talent and maintaining continuity in leadership. The promoted officers collectively bring diverse expertise across critical areas including:

• Recovery and Risk Management: Shri Birendra Mehta's experience in the Recovery Department
• MSME Banking: Dr. Himanshu Gupta's specialization in micro, small, and medium enterprise banking
• Regional Operations: Multiple officers with zonal and regional management experience
• Compliance and Governance: Smt Kavita Thakur's background in compliance and specialized training in stressed asset resolution

Academic and Professional Qualifications

The promoted officers possess strong educational backgrounds and professional certifications. Most hold advanced degrees in relevant fields such as Economics, Public Administration, Business Administration, and specialized banking qualifications. Several officers are Certified Associates of the Indian Institute of Banking and Finance (IIBF), reflecting their commitment to professional development in banking.

Regulatory Compliance

The bank has fulfilled its disclosure obligations under SEBI regulations, providing comprehensive details about each appointment including brief profiles, qualifications, and current responsibilities. The information has been made available on the bank's investor relations website, ensuring transparency for stakeholders and regulatory compliance.

Central Bank of India has received a significant income tax assessment order demanding ₹296.08 crores from the Income Tax Department for Assessment Year 2024-25. The bank disclosed this development through a regulatory filing under Regulation 30 of SEBI (LODR) Regulations, 2015.

Assessment Order Details

The Income Tax Department issued an assessment order under Section 143(3) read with Section 144B of the Income Tax Act, 1961, dated 28.03.2026. The demand notice was uploaded to the Income Tax Portal by the Assessment Unit, which the bank discovered on 30.03.2026.

Nature of Tax Demand

The assessment order involves re-computation of income and disallowances made regarding claims submitted in the bank's income tax returns. The Income Tax Department has made various additions and disallowances that resulted in the substantial tax liability demand.

Bank's Response Strategy

Central Bank of India has outlined its approach to address the tax demand:

• Legal Challenge: The bank is preparing to file an appeal before the appropriate forum against the disallowances and additions made in the assessment order
• Timeline Compliance: All legal proceedings will be initiated within prescribed timelines
• Legal Grounds: The bank believes it has adequate factual and legal grounds to substantiate its position
• Precedent Analysis: Based on precedence and orders from appellate authorities, the bank expects favorable outcomes

Expected Financial Impact

The bank has stated that it expects no financial implications as it plans to dispute the entire demand. Management believes that based on precedent cases and appellate authority orders, the bank has strong grounds for a successful challenge, expecting the entire demand to be resolved in its favor.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30(13) of SEBI (LODR) Regulations, 2015, which requires listed entities to inform stock exchanges about communications from regulatory, statutory, enforcement, or judicial authorities. Company Secretary and Compliance Officer Chandrakant Bhagwat signed the disclosure, confirming the information's accuracy and completeness.