Central Bank of India has appointed Shri Rajesh Ranjan as a Shareholder Director, effective August 1, 2026, following a Board assessment that confirmed him as the sole valid candidate for the position. The appointment is significant for the bank's governance structure as it fills a key representation slot for shareholders, excluding the Central Government. Ranjan will hold office for a three-year term ending July 31, 2029.

The Board of Directors determined that Ranjan met the 'Fit and Proper' criteria required under Section 9(3)(i) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Consequently, the election process for this position, originally listed as Agenda no. 9 in the notice for the 19th Annual General Meeting (AGM) scheduled for July 31, 2026, has been withdrawn.

Shri Rajesh Ranjan brings extensive experience in law, human resources, and fraud risk management. A retired IPS officer with 36 years of service, he has worked in Public Sector Undertakings and Central Armed Police Forces. His professional background includes roles such as Director of IFFCO-TOKIO General Insurance Company Ltd and Chief Vigilance Officer of Gail India Ltd. He currently serves as an Independent Director on the Board of DME Development Limited.

The bank confirmed that Ranjan has no existing relationships with other Directors on the Board. The appointment was formalized in accordance with Regulation 66 of the Central Bank of India (Shares & Meetings) Regulation, 1998, which deems a sole valid candidate elected to the post.

Profile of Shri Rajesh Ranjan

Central Bank of India has reported receiving strong corporate loan requests, reflecting an uptick in private investment activity. The bank is also setting its sights on significant international business growth, anticipating $500 million in business from its Gift City branch by FY27.

Corporate Loan Demand and Private Investment

Central Bank of India has noted a robust pipeline of corporate loan requests, underscoring growing momentum in private sector investment. The increase in corporate credit demand points to heightened business activity among the bank's institutional clientele.

Gift City Branch Business Target

The bank has set an ambitious target for its Gift City branch, anticipating $500 million in business by FY27. Gift City, or Gujarat International Finance Tec-City, serves as India's premier international financial services centre, and Central Bank of India's presence there positions it to tap into cross-border financing and global banking opportunities.

Key Highlights

• Strong corporate loan requests received by the bank
• Rising private investment activity observed
• $500 million business anticipated from Gift City branch by FY27

The bank's dual focus on domestic corporate lending and international business through its Gift City branch reflects a broad-based growth strategy. The $500 million target for the Gift City branch by FY27 underscores Central Bank of India's commitment to expanding its footprint in India's international financial services landscape.