Central Bank of India yet to take decision on closing 600 branches

Central Bank of India, which is under the Prompt Corrective Action (PCA) regime since June 2017, said on Saturday it is yet to decide on the number of branches to be shut in the current financial year (FY23).

While Mumbai-based public sector lender has slashed its tally of branches by 186 between April 2017 and December 2021, there have been reports about it intending to close 600 branches in 2022-23 (FY23). The number of branches stood at 4,528 at the end of December 2021.

The bank, in a statement, said there is no decision as of now to close a large number