BOI Full Form: Know All About BOI Here!
By BYJU'S Exam Prep
Updated on: September 25th, 2023
BOI Full Form: While studying for banking exams, many people wonder what the full form of BOI is. The full form of BOI is the Bank of India. Bank of India was established on September 7, 1906, by a group of prominent Mumbai businessmen. Until July 1969, when it was nationalised along with 13 other banks, the Bank was privately owned and controlled.
The bank began with a single office in Mumbai, with a paid-up capital of Rs. 50 lakh and 50 staff members, and has since grown to become a powerful organisation with a strong national presence and significant foreign operations. The bank ranks first among nationalised banks in terms of business volume.
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In India, the bank has about 5,000 branches, including speciality branches, distributed across all states and union territories. 59 Zonal Offices and 10 NBG Offices are in charge of these branches. Currently, the bank has 45 offices in 18 countries across five continents, including four subsidiaries, one representative office, and one joint venture, located in significant banking and financial centres such as Tokyo, Singapore, Hong Kong, London, Paris, New York, and DIFC Dubai.
In 1997, the bank issued its first public offering, followed by a Qualified Institutions Placement in February 2008.
Organisational Structure Of BOI
Shri Atanu Kumar Das has 26 years of banking expertise and has worked on both policy and operational levels. He was the head of Vijaya Bank’s Lucknow Region for more than three years before taking over as its Delhi Regional Head in January 2015.
On February 17, 2017, he was appointed Executive Director of the Bank of India, where he was in charge of Finance, Risk Management, Planning, Development & Coordination, Strategy & Economic Intelligence, Information Technology, Human Resources, Financial Inclusion, and other critical departments.
With effect from January 20, 2020, he assumed the role of Managing Director and CEO of Bank of India.
|
Name |
Designation |
|
Atanu Kumar Das |
Managing Director & CEO |
|
Dakshita Das |
Government Nominee Director |
|
Rajesh V Upadhya |
Co. Secretary & Compl. Officer |
|
Devendra Sharma |
Chief Vigilance Officer |
|
Sankar Sen |
Chief Financial Officer |
|
M. Karthikeyan |
Executive Director |
|
Monika Das |
Executive Director |
|
P R Rajagopal |
Executive Director |
|
Swarup Dasgupta |
Executive Director |
|
P N Prasad |
Shareholder Director |
|
Subrata Das |
Nominee Director |
Headquarters of BOI
The Bank of India (BOI) is a government-owned bank in India. It is owned by the Government of India’s Ministry of Finance, with headquarters in Mumbai’s Bandra Kurla Complex. It was founded in 1906 and has been owned by the government since its nationalisation in 1969. SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a founding member of BOI and promotes the supply of cost-effective financial processing and communication services.
Products And Functions of BOI
As it offers a wide range of personal, corporate, and international banking services, BOI’s operations are broad. Its deposit account and loan options include savings accounts, current accounts, star home loans, and star personal loans, to name a few.
Fixed deposits, recurring deposits, credit cards, and debit cards are among the bank’s investment and card services. BOI’s SMS balance inquiry service makes checking balances easy for its customers. Customers can check their balance using a variety of methods, including net banking, mobile banking, SMS banking, passbook, and a missed call service.
Customers of BOI have access to a variety of internet banking services that are available to them 24 hours a day, 365 days a year. Consumers must first register on the BOI website in order to conduct effective net banking.
Bank of India has a well-established 24-hour customer support system that allows for fast and convenient access to one’s account as well as information around a variety of products and services. Customers can reach out to the support team through text messages, emails, and a toll-free phone number, among others.
Vacancies in BOI
Candidates can learn more about the financial organisation, what it’s like to work there, and how to apply for open opportunities by visiting the BOI Careers website.
BOI Vacancies, BOI Full Form, BOI History, and BOI Functions were all discussed in this article. We hope you found this information useful. If you have any questions, please contact us and we will be happy to help.
We hope this information was useful to you. Like the full form of BOI, you can learn from others our articles. This would be extremely beneficial for a banking exam.
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