SBI to shift Central Ac­counts Of­fice

India Business Journal - - NEWS ROUND-UP -

State Bank of In­dia (SBI) has de­cided to shift its Central Ac­counts Of­fice (CAO) from Kolkata to its cor­po­rate head­quar­ters in Mum­bai. The CAO came into ex­is­tence af­ter for­ma­tion of Im­pe­rial Bank of In­dia fol­low­ing merger of three pres­i­dency banks of Bri­tish In­dia. In 1955, the Central gov­ern­ment took over Im­pe­rial Bank of In­dia and re­named it as SBI. While the bank's head­quar­ters was set up in Mum­bai, the CAO was re­tained in Kolkata. The CAO pri­mar­ily looks into com­pi­la­tion and fi­nal­i­sa­tion of the bank's an­nual bal­ance sheet and quar­terly and hal­fyearly profit and loss ac­counts.

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