Kollam, formerly known as Desinganadu, is an old seaport and a thriving city in the Indian state of Kerala. It is a port city along the Laccadive Sea coast. Mar Sabor, an East Syriac bishop, had founded the Kollam Port. The city is situated on the banks of the Ashtamudi Lake. In ancient times, Kollam had a strong commercial relationship with the Chinese. Kollam city ranks 5th in the country and 3rd in Kerala in terms of per capita income and economic performance. The port city has an excellent export background. Fishing and dairy farming largely contribute to the citys economy. The government is about to establish a fishing harbor in the vicinity of the city in order to increase the fish production. Fisheries, hatcheries, turkey and poultry farms are also plentiful in the city. The city also has a rich mineral base. The sands on the beaches and the entire area has a good amount of heavy minerals such as Ilmenite, Monosite, Rutile and Zircon, which can be used for industrial purposes. There are limestone deposits and bauxite in and around the city. Kollam is often called the "Cashew Capital of the World", as the city is noted for its traditional cashew business. This city is a microcosm of Kerala and its residents are from various religious, ethnic and linguistic groups.
The Central Bank of India was found on 21st December 1911. Its head office is in Mumbai. The stocks of the bank are listed on Bombay Stock Exchange and National Stock Exchange in India. In 1938, the Barclays bank acquired the Central Bank Exchange of India. In 1963, Central Bank of Indias operations in Burma was nationalized by the government of Burma, and it became Peoples Bank No. 1. In 1969, the Central Bank was nationalized by the Indian Government on 19 July, together with 13 others.In the year 1980, Central Bank of India was one of the first banks in India to issue credit cards in collaboration with MasterCard. For the year ended 2013, Central Bank of India announces that the total business of Rs. 402000 Cr and the net profit of Rs. 1015 Cr. A new CMD, Mr. Rajiv Rishi was appointed by the Central Bank of India on 1 August 2013, who was previously ED of Indian Bank and General Manager of OBC. On 1 November 2013, the bank opened its second representative office in Hong Kong.