ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Central Bank of India Limited-Speech of the Chairman. Mr V C Patel

Speech of the Chairman. Mr V C Patel THE following is the summary of the Speech delivered by the Chairman, Mr V C Patel, at the Fifty-seventh Annual General Meeting of the Shareholders of The Central Bank of India Ltd, held in Bombay on Friday, April 26, 1968, Addressing the Annual General Meeting of the Shareholders of the Central Bank of India Ltd on Friday, April 26, 1968, the Chairman, Mr V C Patel, referred at the outset to the changes that have taken place in the constitution of the Board of Directors so as to conform to the Government's policy of social control over banking. Ho paid a glowing tribute to the past Chairman, Sir Homi Mody, and said, "The recent retirement of our venerable leader, Sir Homi Mody, marks the end of an epoch in the annals of our Bank, an epoch to which all of us can look back with legitimate pride and a sense of achievement. Fiftyseven years have gone by since the founding of our Bank and for the major part of this period extending over four decades, Sir Homi Mody held an honoured place on our Board. Except for a brief interval, when in response to the country's call he served as a member of the Viceroy's Executive Council and as Governor of Uttar Pradesh, Sir Homi Mody was at the helm of affairs as our Chairman for thirty years, steering the Bank through fair weather and foul with single-minded devotion. By his unimpeachable integrity, mature wisdom and sound judgment Sir Homi Mody built up for our Bank the priceless asset of public confidence and contributed greatly to our achieving the present distinction of being the largest bank in the private sector in our country. His example of dedicated service will continue to be a source of perennial inspiration to all of us connected with the Bank in one way or another. Indeed, he had identified himself so completely for many Jong years with our Bank's fortunes, that it is impossible for any one now or in the future to think of this institution without recalling to mind his magnificent contribution to its growth and prosperity. I am sure all of you would like to join me in placing on record our deep debt of gratitude to him for his selfless and meritorious service and in wishing him many years of happy retirement." Two other directors, Mr Dharamsey Khatau and Mr Chimanlal Parikh, who had been associated with the Board since 1938 and 1954 respectively had also resigned from the Board recently. About them, Mr Patel observed "Mr Khatau was always ready to place at the Bank's disposal unstintedly his rich and varied experience in industry and commerce. His deep knowledge of men and matters and keen foresight were of great value to the Bank in the formulation of sound business policies. To Mr Chimanlal B Parikh who had beer a member of our Board for about H years the Bank owes a good deal. With full confidence in his business acumen and robust commonsense, his colleagues often turned to him for guidance and he never failed to give them practical and purposeful advice. Both these distinguished gentlemen had given their best to the institution and on your behalf I wish to convey to them our sincere appreciation and grateful thanks." Welcoming the new directors, Mr Tribhuvandas K Patel, who is an acknowledged leader in the co-opzrative movement, Mr B V Nimbkar, who is one of the most enlightened and progressive agriculturists in the country, and Mr Taraporewala, who is a well known economist and an enterprising small-scale industrialist, Mr Patel expressed confidence that with their expert knowledge, they wilt be very valuable additions to the Board.

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