New Delhi: The Central Bank of India, one of India's oldest banks, is going to close its nearly 600 branches. The public sector bank has now given an official reply. It was reported that the central bank of the public sector will close 13 per cent of its total bank branches. This number is equal to 600. But now the bank has issued an official statement denying this news.

"No decision has yet been taken to close a large number of branches in the financial year 2022-2023," the bank said, adding that the Central Bank of India, along with some other state-owned banks, was put under the purview of the PCA of the Reserve Bank of India (RBI) in 2017. However, since then, all banks except the Central Bank of India have adjusted their financial condition and come out off the list.



The Central Bank of India has to close down many of its branches to improve its financial condition. This includes branches that have either been running in losses for many years or have failed to do good business. The over 100-year-old Central Bank of India currently has a large network of 4,594 branches. According to the report, the bank had planned to completely close some branches and merge some of the nearby branches.

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