Bank of India

Be it those silver or gold coins whose value was apparently much higher than the price it was traded for or the times when barter exchange was a thing; commodity exchange always retained its importance for human civilizations. With its growth, even money became a commodity as the system of banking was born.

Inspiring many investors in the late 19th century to establish private banks in the country, some of them are still serving the people to meet their financial needs.

You will find one right on the corner of your street, with the name describing itself as the Bank of India.

From being the first Indian bank during British rule to being the oldest bank ever, the Bank of India has been integral to modern economic growth. From independence to political instability, as well as economic turmoil, it has certainly been subjected to extensive testing throughout its history. Indeed, on the occasion of the Bank of India's anniversary, this institution shares a "Relationship beyond Banking

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With its first branch in Mumbai, the Bank of India was nationalized in 1969 under the bank act and now has over 5084 branches throughout India. The Bank currently has 24 branches abroad, spanning foreign territories across 5 continents.

When the first foundations of the Bank of India (BOI) were laid in 1906, ten prominent businessmen from Bombay had the vision to build a banking system that incorporates financial services for all Indians. Although several challenges arose, BOI continued to grow and brought a new era of customer acquisition, campaigns, products, and services in the country's financial market.

Since its inception, the bank has grown rapidly, both domestically and internationally. Moreover, it enjoys a wide range of loyal customers not only through its old network but also through its wide range of branch locations.

From the Institute for Development & Research in Banking Technology (IDRBT), the Bank was named 'The Best Bank' for Implementing Information System Security Policies.

Among the nationalized banks, it occupies a premier position under the Ministry of Finance. As the first such bank to achieve full computerization, the Bank established an ATM facility for domestic customers much earlier than others.

It has implemented various other innovative services and systems while firmly sticking to its security policy and ensure the safety of its customers. In addition, the Bank is a Founder Member of SWIFT in India and as an early adopter of credit rating systems, it introduced the Health Code System in 1982.

Even as the Bank of India stands true to its foundation, it is rich in its history and continues to play a vital role in India's financial market. Surely, the nation's faith continues to flourish with both financial and authentic recognition. Besides changing the monetary status of India in the years to come, the bank will always influence the economic climate securely.