Bank of India Asgnmnt

8/8/2019 Bank of India Asgnmnt

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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 nationalised 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 amighty institution with a strong national presence and sizable international operations. In

business volume, the Bank occupies a premier position among the nationalised banks.

The Bank has 3101 branches in India spread over all states/ union territories

including 141 specialised branches. These branches are controlled through 48 Zonal

Offices . There are 29 branches/ offices (including three representative offices) abroad.

The Bank came out with its maiden public issue in 1997 and follow on Qualified

Institutions Placement in February 2008. . Total number of shareholders as on

30/09/2009 is 2,15,790.

While firmly adhering to a policy of prudence and caution, the Bank has been in

the forefront of introducing various innovative services 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 nationalised banks to

establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at

Mumbai way back in 1989. The Bank is also a 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 (BSE) 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 sizable presence abroad, with a network of 29 branches (including

five representative office) at key banking and financial centres viz. London, Newyork,

Paris, Tokyo, Hong-Kong and Singapore. The international business accounts for

around 17.82% of Bank's total business.


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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 upmarket retail

customers and to provide cost effective developmental banking for small business,

mass market and rural markets"

INFORMATION TECHNOLOGY

Bank of India has been pioneer in launching key initiatives in areas of Products, Distribution, Technology,

International Operations and Risk Management. Our Bank aims at strengthening customer relations,diversifying delivery channels, increasing international capabilities and services, and strengthening

revenue streams from diversified sources. Our Bank has redefined banking services with hi-tech

services. The theme of "Relationships beyond Banking" has helped in creating & cementing a niche in

the minds of our clientele.

Branch Automation Bank completes implementation of 100% Core Banking Solution in all its 3023

branches.

Automated TellerMachines (ATMs)

Bank is having its own 487 ATMs (both on-site & off-site). The Bank is memberof

Cashtree and BANCS network. The Bank is the Settlement andNodal Bank for

CashtreeATM network having 13 memberBanks and BANCS network having 14

member banks. The Bank has also entered into bilateral agreement with State

bank of India and its associates. OurBank has joinedNational Financial Switch

(NFS) which enables ourCustomers to access morethan 35,000 ATMs across the

country

SolarPowerSystems

Solar Power Systems implemented in 147 Rural / Semi urban branches where

there is acute shortage of Power or high load-shedding periods. We plan to

extend in another100 branches / administrative offices during theyear2009.

Financial Inclusion


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IT enabled FINANCIAL INCLUSION SOLUTION has been successfully

implemented in different states of India, viz. Gadab (rural) branch of Raigad

Thane Zone, Puttur in Hyderabad Zone, districts ofLucknow in U.P and Budhni in

Sehore District, Bhopal in M.P.. Expansion of the solution in these centers is in

full-swing.

TellerCash Dispensers

Installation of TellerCash Dispensers is in progress at identified branches. It will

reduce wait-time, enhance the productivity of Tellers and also help in accurate

dispensing of Cash.

StarConnect Internet Banking Services

Bank customers enjoy the convenience of secured Anytime, Anywhere,

Anyhow hassle free Banking from the comfort of their Homes & Offices with a

mouse click. Features like Statement of Account View, Enquiring status of

cheques, Request for a cheque Book, Transfer of funds including third party

transferwithin the networked branches etc.

Interbank Fund Transfer

Online Interbank Fund Transfermadeeasy and convenient. Now, you can transfer

funds ONLINE across banks, through ourStarConnect Internet Banking Services,

using RTGS/ NEFT facility, WITHOUT ANY CHARGES.

Technology Product & Services

BOI Stare-Pay

Customers can register forAuto-pay oron-line payment of various utility services

like Telephone Bills, Electricity Bills, Mobile Bills, Insurance premia, Credit card

Bills and subscription payments to certain magazines, Mutual fund applications

and certain otheragencies. The benefits being:-


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y No morelate payments.y No more queues.

No more hassles of writing anddepositing of cheques.

e-Payment of Direct & Indirect, Central Excise & Service Tax

Tax Payment made Easy. PayyourDirect & Indirect Central Excise, Service Tax,

Custom duties online from the comforts ofyouroffice orhome, avoiding queues

andlast minuterushes

Star e-Share Trade

Banks customers are provided with a fast, easy, transparent and hassle-free wayto trade in shares. Customers can invest in shares traded on Stock Exchanges

without visiting or calling the share brokers, track settlement cycles, delivery

instructions forpurchases and sales.

RTGS / NEFT

Remittance of funds for inter-bank transactions / customers transactions utilising

the RBIs RTGS infrastructure through our networked RTGS / NEFT enabledbranches. 2100+ branches are RTGS enabled & 2000+ branches are NEFT

enabled.

Stare-Remit Service

An effective wayto transfermoney from any bank account in theUnited States to

anyone in India. The facility can beused for all personalUS dollar remittance

from anywhere in USAto India.

DGFT Onlinee-Payment

A safe, secure and convenient mode of license fee payment to Directorate

General of Foreign Trade, Ministry of Commerce, Government of India, through

the Internet without visiting the Bank.


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Online Booking of Indian Airlines Ticket / SpiceJet

Travel Ticket booking made easy. Select your flight, provide necessarydetails

and paythrough Bank of India Internet Banking.

Online Booking of Indian Railway Ticket

Railway Ticket booking madeeasy. Selectyour train, provide necessarydetails

and paythrough Bank of India Internet Banking.

OnlineApplication forEducation loan

On Line facility available forsubmission of Education Loan application.

OnlineUtility Payments

Online facility forpayment ofUtility bills and otherpayments viz. MTNL, Reliance

Infocomm, BSNL (select circles), Tata Indicom, Vodafone, Idea, Airtel, MSEB,

Reliance Energy, MahanagarGas, Tata Sky, BSES Rajdhani, BSES Yamuna, NDPL

Delhi, VSNL, LIC etc.

SWIFT

Our bank also facilitates services to its customers through SWIFT, thereby

providing a cost-effective financial processing & communication services of

assured quality, integrity, reliability for International funds transfer and other

financialtransactions.

STAR CASH MANAGEMENT

A product specifically for corporate customers. It offers fast-track cheque

collections, speedier release of funds and profitable funds management at a

reasonable cost.

ECS (Debit & Credit)


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BOI offers its customers a faster and easier method of effecting payments by

directdebitto the customers account in case ofutility payments, credit card bills

etc. ECS is also a preferred method of credit in respect ofdividend warrants,

interest warrants, refund orders, salary pensions etc.

Credit Counselling Service (Abhay)

Bank of India being a major bank in the public sector always endeavours to strike a

viable equilibrium between commercial objectives and social responsibilities. As areaffirmation of our commitment to the corporate mission, we in our centenary year,

started credit counseling services at free of cost to the Common People to enable them

to lead a respectable life.

The Credit Counseling services were started under the aegis of the Trust "ABHAY "

which was launched at the hands of His Excellency President of India Dr. A.P.J. Abdul

Kalam at New Delhi on 25th August, 2006. The first center was inaugurated at Mumbai

by Dr. Y.V.Reddy, Governor, Reserve Bank of India on 7th September,2006 which was

followed by Centres at Wardha in Nagpur and Chennai.

The following are the main objectives of the Trust.

Advising on gaining access to structured financial system including banking

Creating awareness among the public about financial management

Counseling people who are struggling to meet the repayment obligations and helpingdebt resolution

Helping in rehabilitation of borrowers in

Friendly and timely guidance coupled with related support extended by the counselors

will not only mitigate the immediate stress of the trapped individuals and their

households, but it will also help to infuse confidence in others who are in distress,

irrespective whether they are customers of Bank of India or other Banks. With the

common objectives of counseling the borrowers, different focus is being given in

metro/urban and rural areas, to meet their different needs


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Our endeavour is continuing to be provide more and more social services in the years to

come. The relationship we maintain is beyond banking

Bank of India Asgnmnt

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