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Bank of India

Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalized along with 13 other banks.

Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizeable international operations. In business volume, the Bank occupies a premier position among the nationalized banks.

The Bank came out with its maiden public issue in 1997. It has a total network of 4582 branches comprising 4528 Indian branches and 54 foreign offices. The Bank has more than 65 million strong customer bases. Government shareholding in the Bank is at 62.72%. The Bank has 43762 employees on its roll across the Globe as on November 2013. It has a range of well structured products, services and skilled staff.

While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of introducing various innovative service and systems. Business has been conducted with the successful blend of traditional values and ethics and the most modern infrastructure. The Bank has been the first among the nationalized banks to establish a fully computerized branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. It is expanding its ATM network aggressively and the total number of ATMs to reach 5000 by March 2014. The Bank is also Founder Member of SWIFT in India. It pioneered the introduction of the Health Code System In 1982, for evaluating/ rating its credit portfolio.

The Bank's association with the capital market goes back to 1921, when it entered into an agreement with the Bombay Stock Exchange to manage the BSE Clearing House. It is an association that has blossomed into a joint venture with BSE, called the BOI Shareholding Ltd. to extend depository services to the stock broking community. Bank of India was the first Indian Bank to open a branch outside the country, at London, in 1946, and also the first to open a branch in Europe, Paris in 1974. The Bank has been awarded the ‘Best Bank for Excellence’ in ADHAR related UAID programme of the Government of India at the hands of the PM at Dodu village in Rajasthan. It has been awarded the ‘Outlook Money Award 2012’ for the ‘Best Education Loan Provider’ & Outlook Money Award 2013’ Runners up for Best Home loan Service provider
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