The Bank has 4545 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 50 Zonal Offices. There are 54 branches/ offices and 5 Subsidaries and 1 joint venture abroad.
While Policy Repo rate and CRR have been kept unchanged, RBI has reiterated its stance to progressively lower the average ex ante liquidity deficit in the system from one percent of NDTL to a position closer to neutrality. This will help in quicker transmission of monetary policy initiatives, with ... (more)
Mr. SS Mundra (Deputy Governor, RBI) inaugurated Bank of India museum at Bank of India's Mumbai Main Branch (70-80 MG Road, Fort, Mumbai) in the presence of Mrs. VR Iyer (Chairperson and Managing Director Bank of India), Mr. BP Sharma (ED, Bank of India), Mr. RP Marathe (ED, Bank of India... (more)
PMSBY & PMJJBY to be available to 7 cr plus BOI customers
Simple & easy: No proposal form required from account holder
Risk coverage of Rs. 2 lakh in case of death for any reason under PMJJBY and Rs. 2 lakh for accidental death and full disability under PMSBY
... (more)
Repo Rate, CRR and SLR have been kept unchanged. The statement has mentioned that policy transmission has not taken place despite RBI cutting Repo rate in the last quarter of the FY 2015. Inflation is expected at 5.80% by the year end.
To encourage banks to reduce base rates ... (more)
- Global Business increased to Rs.9,40,623 crore in December-14. (10.25% over Mar’14 & 16.03% Y-O-Y)
- Bank of India is the first PSU bank to launch Instant-Money-Transfer on all ATMs nationwide
- As of December 31, 2014, Bank’s distribution network at 4,835 Branche... (more)
Bank of India announced a Net Profit of Rs. 786 crore (up 26%) for the quarter ended September 30, 2014, as compared to Rs. 622 crore in Q2 FY14. Non-Interest Income grew to Rs. 3,031 crore (up 20%) in Q2 FY15 from Rs. 2,527 crore in Q2 FY14. The Operating Profit grew to Rs. 2136 crore (up 2%) in Q... (more)
Largely the policy declarations are in line with our expectations. Inflation targets for 2015 and 2016 appear to be within reach as of now. RBI has reconfirmed GDP expectations at 5.50% for the current financial year.
We do not expect any movement in interest rates ... (more)
