What is the full form of CBI
(i) CBI: Central bureau of Investigation
CBI stands for Central bureau of Investigation. It is a Government organization of India that looks into the security and serves as a criminal investigation body. It is headquartered in New Delhi. The head of the CBI is usually a senior IPS officer. Other officers of CBI, including Superintendent of Police, Deputy Inspector General of Police, Sub-Inspector and Constables work under him. As of July 2017, Sh. Alok Kumar Verma is the director of CBI. He is a 1979 batch IPS officer of Arunachal Pradesh-Goa-Mizoram and Union Territories (AGMUT) cadre.
CBI works under the Prime Minister of India. Its motto is “Industry, Impartiality, and Integrity”.
History
It was established in 1941 as the Special Police Establishment to manage the domestic security. Later, it was renamed as CBI on 1st April 1963. The first director of CBI was D.P. Kohli. In 1965, it was entrusted with few more responsibilities like investigation of economic offences and conventional crimes like murders, kidnapping and crimes related to terrorism. In 1987, it was decided that there will be two separate investigation divisions in the CBI, Anti-Corruption Division and Special Crimes Divisions.
What does CBI do
- Control terrorism by taking strict actions.
- Investigate all types of crime in India and sometimes outside India also.
- Handle the cases of financial frauds.
- Resolve the unsolved cases of Police department of any state.
- Provide leadership and direction to the police forces in fighting corruption.
(ii) CBI: Central Bank of India
Central Bank of India is a Government owned bank. It is one of the oldest and largest commercial bank of India. It is headquartered in Mumbai. This bank has 4600 branches and more than 5000 ATMs in all over the India. It is one of the 18 Public sector banks in India. It has overseas offices at Nairobi and Hong- Kong and approaching to Reserve Bank of India to open representative offices in five more locations: Singapore, Dubai, Doha and London. Sh. Rajeev Rishi is the current (as of July 2017) Chairman and Managing Director of Central Bank of India.
History
This bank was founded on 21 December 1911 by Sorabji Pochkhanawala and Pherozeshah Mehta was its first chairman. In 1969, Government of India nationalized this bank. Some of its pioneering services are given below:
- In 1921, it introduced the Home Saving Safe Deposit Scheme to encourage saving habits in all sections of the society.
- In 1926, it introduced Safe Deposit Locker facility and Rupee Travellers’ cheques.
- In 1932, it introduced Deposit Insurance Benefit Scheme.
- In 1976, it established the Merchant Banking Cell.
- In 1980, it introduced the Centralcard, the credit card of Central Bank of India.
- In 1986, it launched the Platinum Jubilee Money Back Deposit Scheme.
- In 1994, it introduced the Quick Cheque Collection Service (QCC) for the speedy collection of outstation cheques.
Awards and Achievements
- It received the first prize for excellent implementation of Official Language Policy of Government of India in Mumbai for the year 2015-16.
- It was awarded the Fintech India Award 2016 under the category of Mobile Banking.
- It received the three first prizes for all the three linguistic regions under RBI RAJBHASHA SHIELD SCHEME.
- It received the banking technology award for best technology initiative in 2016.