The 110th Foundation day of Bank of India [ 7th of September 1906 ].

September | Monday | 07, 2015 :: Bank of India (BoI) is commercial bank with headquarters in Mumbai, Maharashtra, India. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.

 Bank of India was founded on 7 September 1906 by a group of eminent businessmen from Mumbai, Maharashtra, India. 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 a mighty 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 4828 branches in India spread over all states/ union territories including specialised branches. These branches are controlled through 50 Zonal Offices. There are 56 branches/ offices and 5 Subsidiaries and 1 joint venture abroad.

 The Bank came out with its maiden public issue in 1997 and follow on Qualified Institutions Placement in February 2008.