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Bank of India (BoI) (BSE: BOI) is a state-owned commercial bank with headquarters in Mumbai. Government-owned since nationalization in 1969, It is India's 4th largest bank, after State Bank of India, Punjab National Bank and Bank of Baroda. It has 3415 branches, including 29 branches outside India. Bank has been ranked 8th in TOP 50 SERVICE BRANDS in The Most Trusted Brands Survey 2010 and 2nd among all Public Sector Banks

Mission:
"To provide superior, proactive banking services to niche markets globally, while providing cost-effective, responsive services to others in our role as a development bank, and in so doing, meet the requirements of our stakeholders".

Vision:
"To become the bank of choice for corporates, medium businesses and up market retail customers and to provide cost effective developmental banking for small business, mass market and rural markets

Quality Policy:
We, at Bank of India, are committed to become the bank of choice by superior, Pro active, innovative, state-of-art Banking services with an attitude of care and concern for the customers and patrons.

At least three banks, having the name Bank of India, had preceded the setting up of the present Bank of India.
1.A

certain Ramakishen Dutt set up the first Bank of India in Calcutta (now Kolkata) in 1828, but nothing more is known about this bank.
2.The

second Bank of India was incorporated in London in the year 1836 as an Anglo-Indian bank
3.The

third bank named Bank of India was registered in Bombay (now Mumbai) in the year 1864

The earlier holders of the Bank of India name had failed and were no longer in existence by the time a diverse group of Hindus, Muslims, Parsees, and Jews helped establish the present Bank of India in 1906. It was the first bank in India promoted by Indian interests to serve all the communities of India. At the time, banks in India were either owned by Europeans and served mainly the interests of the European merchant houses, or by different communities and served the banking needs of their own community. The promoters incorporated the Bank of India on 7 September 1906 under Act VI of 1882, with an authorized capital of Rs. 1 crore divided into 100,000 shares each of Rs. 100. The promoters placed 55,000 shares privately, and issued 45,000 to the public by way of IPO on 3 October 1906; the bank commenced operations on 1 November 1906

1946: Opened Indian bank first post-WWII any Indian bank. 1950: Opened 1951: Opened 1953: Opened in Uganda. 1953: Opened 1955: Opened 1960: Opened 1962: Opened

a branch in London, the first to do so. This was also the overseas branch of branches in Tokyo and Osaka. a branch in Singapore. a branch in Kenya and another a a a a branch branch branch branch in in in in Aden. Tanganyika. Hong Kong. Nigeria.

1970: Opened an agency in San Francisco. 1974: Opened a branch in Paris. This was the first branch of an Indian bank in Europe. 1976: The Nigerian government acquired 60% of the shares in Bank of India (Nigeria). 1978: Opened a branch in New York. 1980: Bank of India (Nigeria) Ltd, changed its name to Allied Bank of Nigeria. 1986: Acquired Paravur Central Bank

1] SAVINGS

Star Suraksha SB Account Savings Bank Ordinary Account Basic Saving AC (No Frill) BOI Saving Plus Scheme Star Diamond Saving Scheme

2] CURRENT DEPOSITS

Star Diamond Current Account Star Benefit CD Plus Accounts Star Gold Current Account Current Deposit Plus Account Star Diamond Plus Account

3] TERM DEPOSITS
Recurring

Deposit Double Benefit Deposit Quarterly Deposit Fixed Deposit Monthly Deposit 4] TAX SAVING DEPOSITS
Star

Sunidhi Tax Deposit Capital Gain Tax Saving Scheme

Non Resident Indians (NRIs) have a choice of two schemes for depositing their savings with Bank of India. These are: 1. Foreign Currency Non Resident (FCNR) accounts . 2. Non-Resident External (NRE) accounts.

Credit card Debit card Platinum debit card Gift card

1)basic history of bank of india:u vl have to find it frm the net 2)when was the nerul branch of BOI started:july 2003 3)what are the procedures to open n account in BOI:find it frm the net 4)interet on loan: different rate of interst are charged on different types of loan 5)interst on deposit: 6)what type of loans is mostly taken by the people:houing loans, vehicle loan.but nw a days people also take gold loan

Following are some of the different types of credit (loans and advances) provided by the Bank:
CASH CREDIT LOAN AGAINST TRUST RECEIPTS (LTR) TERM LOAN LEASE FINANCING SECURED OVERDRAFTS (SOD)

Due diligence refers to the practice of undertaking thorough research of an account at entry level in order to prevent perpetration of frauds. It is also necessary to appraise the credit worthiness of a project and promoters and it throws up signals which helps the bank to avoid potentially risky business. While undertaking the due diligence process the concerned officer should ensure that the norms spelt out by the credit policy of the bank are adhered to and that the subject company is directly involved in providing full as well as reliable information. Certain information, materials and documents that branches should ask the company to provide in respect of due diligence include Articles of Incorporation, memorandum of association, articles of association etc. ;Status Reports from existing bankers of the borrower ;Market enquiries; Licenses/ Certifications etc. The bank should essentially undertake a Registrar of Companies search; RBI/CIBIL/ECGC/ List of Defaulters / willful Defaulter Listen queries etc.

Sole Banking
In situations where the bank is the only banker with the organization it is said to undertake sole banking.

Multiple Banking
Where the bank is the sole banker but the borrower desires to avail of credit limits from other bank/s, (the reasons for the shift to another bank being ascertained and recorded)

Consortium Lending
In situations where the borrowers avails credit limits from a number of lending institutions under similar conditions and policies using separate loan documentation.

Syndication
A syndicated credit is an arrangement between two or more lending institutions to provide a credit facility using common loan documentation.

For an asset to be accepted by the bank it is important that it fulfills certain prerequisites:

Good ownership title Freely marketable Minimum Price fluctuation Imperishable in nature Freely transferable title Easily determinable value Durable in nature

There are seven types of assets which can be taken as the security for the purpose of lending:Immovable

properties (land, building) Plant and machinery, equipment etc. Shares and debentures Stock of goods Life policies Book debts Fixed deposits Supply bills Movable Assets

Saving deposit Fixed deposit NRI deposit

4%p.a 9.25%p.a 4%p.a