Bank of India
NSE: BANKINDIA BSE: 532149
₹161.74
(-1.05)%
Fri, 06 Feb 2026, 08:08 am
Market Cap732.52B
PE Ratio7.50
Dividend2.52
Finance
Major Banks
24.5Kbank of india History
1969
- Established by Ordinance on Jul 19; acquired undertaking of Bank of India Ltd.; Ordinance replaced by Banking Companies Act 1969.
1970
- Supreme Court declared 1969 Act null; new Ordinance and Act 1970 effective retrospectively from Jul 19, 1969.
- Allotted 30 districts under Lead Bank Scheme: 9 Maharashtra, 9 Madhya Pradesh, 2 Orissa, 4 Bihar, 6 UP.
1985
- Rs 43 crore capital contributed by government.
1986
- Rs 27 crore capital contributed by government.
1988
- Rs 35 crore capital contributed by government.
1989
- Incorporated Bank of India Finance Ltd. subsidiary in June for financial services.
- Rs 140 crore capital contributed by government.
1990
- Established BOI Mutual Fund.
- Rs 100 crore capital contributed by government.
1991
- Rs 110 crore capital contributed by government.
1993
- Rs 6,357 crore capital contributed by government.
1994
- Formed subsidiary to manage BOI Mutual Fund investments; commenced business Feb 21.
- Rs 848.38 crore capital contributed by government.
1995
- Adjusted Rs 1,369.91 crore accumulated loss against paid-up capital.
1996
- Returned Rs 93.47 crore to government for capital restructuring.
- Issued 150 million equity shares at Rs 35 premium to public.
1997
- BOIFIN associated with 12 issues as Lead Manager/Co-Manager.
- Became Depository Participant of National Securities Depository Ltd.
1998
- Sponsored 16 Regional Rural Banks with Rs 5.60 crore capital, 992 branches.
- Awarded Gem & Jewellery Export Promotion Council Award.
- Set up risk management department and global treasury.
- Introduced 15-day term deposits with SBI, OBC, Hongkong Bank.
- Tied up with Equifax Venture Infotek for credit card automation.
- Presented Bank of India Excellence Awards.
- Launched BOI Navy Card with MasterCard.
1999
- Set up committee with BSE to review BOI Shareholding.
- Restructured subsidiaries for viability.
- Planned insurance partnership with foreign company.
2000
- Introduced floating deposit rates and MIBOR-linked advances.
- Unveiled centralised banking, floating schemes, cash management.
- Planned centralised banking for anytime-anywhere services.
- Received in-principle approval to dilute government stake to 33%.
- Offered special deposit for BOI Mutual Fund Double Square Plus redemption.
- Revised FCNR, NRE, NRNR deposit rates.
- Hiked FCNR rates.
- Appointed Venugopalan as UBI Executive Director; Onkar Nath Singh as BOI ED.
- Joined Central Depository Services as participant.
- Planned to close BOI Finance merchant banking arm.
2001
- Suspended bullion trading in Ahmedabad due to payment crisis.
- Passed resolution to return Rs 300 crore capital to government.
- Finalised HRD package costing Rs 30 lakh annually.
- Reported 63% net profit rise to Rs 135.16 crore in Q2.
- Planned to convert Kenya subsidiary into full-fledged bank; merged two branches.
- S R Sengupta and A B Telang retired as Directors.
2002
- Returned Rs 150 crore capital to government.
- Exited mutual fund business; sold schemes to Taurus Mutual Fund.
- Nominated Deveshwar Kumar as non-official Director.
- Nominated Deepak Prabhakar Patil as Workmen Employee Director.
- Elected Sadagopan Sowmyanarayanan, Sheth Tarun, Shastri Girish Ramanugrah, Chandra Bhagwantrao Govindrao as Directors.
- Extended Multi-Branch Banking to all Mumbai branches.
- Entered film financing sector.
- High Court sanctioned amalgamation of BOI Finance with Bank of India.
- Slashed FCNR deposit rates by 20-35 bp.
- Tied up with ICICI Bank for cash management services.
- Reduced training centres from 14 to 5.
- Appointed Deloitte Touche Tohmatsu as special recovery agent for NPAs.
- Slashed Euro FCNR deposit rates.
- Reduced deposit rates by 40-75 bp.
- Reduced PLR and deposit rates by 50 bp.
- Changed maturity buckets for domestic and NRE term deposits.
- Slashed deposit rates across maturities.
- Approved second phase of VRS by IBA.
2003
- Introduced mobile ATM in Mumbai.
- Slashed USD and EUR FCNR deposit rates.
- Approved insurance referral at Hong Kong Centre.
- Tied up with CMC Ltd. and Infrasoft for MBB in 450 branches.
- High Court approved BOI AMC amalgamation with Bank of India.
- Entered ATM sharing with SBI, Indian Bank, Syndicate Bank, UBI.
- Cleared Rs 137 crore settlement with Ketan Parekh.
- Introduced Starlinks global debit card with Visa and India Switch.
- Approved Ketan Parekh recovery compromise.
- Networked 275 branches for Rs 14 crore.
- Launched first off-site ATM in Coimbatore.
- Took possession of tea factory in Coonoor under SARFAESI Act.
- Divested 45 lakh Silverline shares at Rs 8.
- Revised domestic term deposit rates from Dec 1.
- Tied up with ICICI Prudential and National Insurance for bancassurance.
2004
- Approved Tier II Capital increase via subordinated bonds.
- Acquired 4% stake in Mercator Lines Ltd. with Canara Bank.
- Nominated V S Das (RBI) as Director.
- Signed tractor finance pact with L&T-John Deere.
- Launched IPO financing as first public sector bank.
- Revised USD and EUR FCNR deposit rates.
- Launched Star IPO demand loan for IPO investors.
- Raised Rs 200 crore via Tier II subordinated bonds.
- Signed pacts with Escorts Tractors and Punjab Tractors.
- Opened first off-site ATM in Tiruchi.
- Introduced Kisan Samadhan card.
- Tied up with Greaves Cotton.
2005
- Collaborated with ANARDE Foundation for rural and agriculture lending.
- Launched international gold credit card with Visa International.
- Unveiled Star Diamond Saving Account.
- Appointed M Balachandran as Chairman and Managing Director until April 2007.
- Signed MoU with LG for consumer durables financing.
- Teamed with NABARD subsidiary for agriculture projects.
- Tied up with ICICI Prudential for housing loan life cover.
- Signed MoU with Banco Popolare Di Verona E Novara for cross-border support.
2006
- Signed MoU with Exim Bank.
- Partnered with Andhra Bank for Dai-ichi Mutual Fund.
- Changed Share Department address to Star House, Bandra Kurla Complex, Mumbai.
- Partnered with SIDBI to train jewellers.
2007
- Appointed A D Parulkar as Executive Director.
2008
- Nominated Amit Kumar Motayed as Officer Employee Director.
- Appointed B A Prabhakar as Executive Director.
- Launched debt waiver scheme.
- Opened first branch of Bank of India Tanzania in Dar-es-Salaam.
2009
- Appointed Alok Kumar Mishra as Chairman and Managing Director.
- Launched new home loan plan for new borrowers.
- Signed MoU with Tata Motors for commercial vehicle financing.
2010
- Opened branch in Shirdi.
- Planned re-entry into mutual fund business.
- Tied up with Karvy.
- Engaged McKinsey for revamp and growth roadmap.
- Launched mobile-based remittance via business correspondents.
2011
- Planned joint venture with AXA Investment Managers for asset management.
- Issued USD 750m Reg. S Dual Tranche Bond.
- Signed MoU to promote MSMEs.
- Became first Indian bank to offer trade settlement in Chinese yuan.
2012
- Established 100% subsidiary Bank of India (Uganda) Ltd.
- Acquired 51% stake in Bharti AXA Investment Managers Pvt. Ltd. and Bharti AXA Trusteeship Services Pvt. Ltd.
2013
- Tied up with Aegis for customer relationship management.
- Board recommended Rs 10 per share dividend (100%).
2014
- Board recommended Rs 5 per share dividend (50%).
2015
- Raised Rs 641.99 crore via preferential shares to LIC and New India Assurance.
2016
- Sold 18% stake in Star Union Dai-ichi Life Insurance to Dai-ichi Life Insurance.
2018
- Merged East Ham Branch with Wembley (London) Branch; merged Manchester Branch with Birmingham Branch.
2020
- Divested shares in Equifax Credit Information Services Pvt. Ltd.
2023
- Board approved plan to raise Rs 6,500 crore through equity issuance, AT-1 bonds up to Rs 4,500 crore, and Tier-2 bonds for Rs 2,000 crore to fund 2023-24 growth.
Open Your Free Demat Account Now!
Facebook
Twitter
Instagram
LinkedIn
Youtube
Calculators
Popular Calculators
Group Stocks
Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800