Central Bank of India

Central Bank of India is a public sector bank founded in 1911 and headquartered in Mumbai. It operates 4,567 branches, with total assets of approximately Rs 533,506.19 crore on the latest published figures.

Central Bank of India was founded in 1911 as the first Indian commercial bank wholly owned and managed by Indians, and it retains a genuinely national branch footprint at 4,567 branches, with total assets of about Rs 5.34 lakh crore. Its coverage extends into central and northern districts where the Member Institution panel is otherwise sparse.

Its role in the Credit Guarantee Scheme for Startups. Central Bank of India is one of 40 institutions registered with the National Credit Guarantee Trustee Company as a CGSS Member Institution (NCGTC MLI ID 31, classified as a public sector bank). Member Institutions are the lenders that actually extend credit under the scheme: you borrow from Central Bank of India, and NCGTC guarantees Central Bank of India against your default. That guarantee is what allows the facility to be extended to a DPIIT-recognised startup without collateral, with cover of up to Rs 20 crore per borrower, being 85 percent of the amount in default on loans up to Rs 10 crore and 75 percent above that.

What this means in practice. Geographic reach rather than balance sheet size is the reason to consider it. If you are in a district where the nearest alternative Member Institution is several hours away, that proximity is worth more than a larger bank's league table position. Approach the MSME desk with your DPIIT certificate and audited monthly statements.

The terms are the bank's, not the scheme's. This is the point founders most often miss. CGSS fixes the guarantee, not the loan. The interest rate, tenure, moratorium, repayment schedule and how the Annual Guarantee Fee is passed through to you are all set by Central Bank of India under its own credit policy, and they differ materially between Member Institutions for an identical borrower. Nor does registration oblige Central Bank of India to lend: it appraises you on its normal credit standards first and applies the guarantee second. Approaching more than one Member Institution is almost always worth the effort.