Panihati is a developing city in the North 24 Parganas district of the Indian state of West Bengal. It is a part of Kolkata Urban Agglomeration with more than 3 lakh residents. Panihati municipality is a part of the Kolkata Metropolitan Area Development Area or KMDA. There are prestigious educational institutions such as the St. Xaviers Institution, the Narula Institute of Technology, Guru Nanak Institute of Technology, etc. in the vicinity of the city. The small city is well connected via railways with two important railway stations - Agarpara and Sodepur in the vicinity. The place is known for hosting many industries. The Bengal Chemicals and Pharmaceuticals at Panihati is a leading manufacturer of medicines. The Bengal Waterproof Works Private Ltd. is popular for their brand Duckback. The Texmaco Rail and Engineering Ltd. has five manufacturing units in and around Panihati. The residents are either employed in these industries or they travel to the various service sectors of the KMDA region for work.
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.