Bank of India (BoI) is an Indian state-owned commercial bank with headquarters in Mumbai, Maharashtra.

Government-owned since nationalisation in 1969, It is India's 4th largest PSU bank, after State Bank of India, Punjab National Bank and Bank of Baroda. It has 4187 branches as on 21 April 2012, including 52 branches outside India, and about 1679 ATMs. 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. The Bank completed its first one hundred years of operations on 7 September 2006

History Previous banks that used the name Bank of India At least three banks having the name Bank of India had preceded the setting up of the present Bank of India. 1. A person named Ramakishen Dutt set up the first Bank of India in Calcutta (Kolkata) in 1828, but nothing more is known about this bank. 2. The second Bank of India was incorporated in London in the year 1836 as an AngloIndian bank. 3. The third bank named Bank of India was registered in Bombay (Mumbai) in the year 1864. The current bank

Bank of India, Mumbai Main Branch The earlier holders of the Bank of India name had failed and were no longer in existence by the time a diverse group of Hindus, Muslims, Parsees, and Jews helped establish the present Bank of India in 1906. It was the first in India promoted by Indian interests to serve all the communities of India. At the time, banks in India were either owned by Europeans and served mainly the interests of the European merchant houses, or by different communities and served the banking needs of their own community. The promoters incorporated the Bank of India on 7 September 1906 under Act VI of 1882, with an authorised capital of Rs. 10 million divided into 100,000 shares each of Rs. 100. The promoters placed 55,000 shares privately, and issued 45,000 to the public by way of IPO on 3 October 1906; the bank commenced operations on 1 November 1906. The lead promoter of the Bank of India was Sir Sassoon J. David (18491926). He was a member of the Sassoons, who in turn were part of a Bombay community of Baghdadi Jews, which was

notable for its history of social service. Sir David was a prudent banker and remained the chief executive of the bank from its founding in 1906 until his death in 1926. The first board of directors of the bank consisted of Sir Sassoon David, Sir Cowasjee Jehangir, J. Cowasjee Jehangir, Sir Frederick Leigh Croft, Ratanjee Dadabhoy Tata, Gordhandas Khattau, Lalubhai Samaldas, Khetsety Khiasey, Ramnarain Hurnundrai, Jenarrayen Hindoomull Dani, Noordin Ebrahim Noordin.

1906: BoI founded with Head Office in Bombay. 1921: BoI entered into an agreement with the Bombay Stock Exchange to manage its clearing house. 1946: BoI opened a branch in London, the first Indian bank to do so. This was also the first post-WWII overseas branch of any Indian bank. 1950: BoI opened branches in Tokyo and Osaka. 1951: BoI opened a branch in Singapore. 1953: BoI opened a branch in Kenya and another in Uganda. 1953 or 54: BoI opened a branch in Aden. 1955: BoI opened a branch in Tanganyika. 1960: BoI opened a branch in Hong Kong. 1962: BoI opened a branch in Nigeria. 1967: The Government of Tanzania nationalised BoI's operations in Tanzania and folded them into the government-owned National Commercial Bank, together with those of Bank of Baroda and several other foreign banks. 1969: The Government of India nationalised the 14 top banks, including Bank of India. In the same year, the People's Democratic Republic of Yemen nationalised BoI's branch in Aden, and the Nigerian and Ugandan governments forced BoI to incorporate its branches in those countries. 1970: National Bank of Southern Yemen incorporated BoI's branch in Yemen, together with those of all the other banks in the country; this is now National Bank of Yemen. BoI was the only Indian bank in the country. 1972: BoI sold its Uganda operation to Bank of Baroda. 1973: BoI opened a rep in Jakarta. 1974: BoI opened a branch in Paris. This was the first branch of an Indian bank in Europe. 1976: The Nigerian government acquired 60% of the shares in Bank of India (Nigeria). 1978: BoI opened a branch in New York. 1970s: BoI opened an agency in San Francisco. 1980: Bank of India (Nigeria) Ltd, changed its name to Allied Bank of Nigeria. 1986: BoI acquired Paravur Central Bank (Karur Central Bank or Parur Central Bank) in Kerala in a rescue. 1987: BoI took over the three UK branches of Central Bank of India (CBI). CBI had been caught up in the Sethia fraud and default and the Reserve Bank of India required it to transfer its branches. 2003: BoI opened a representative office in Shenzhen.

2005: BoI opened a representative office in Vietnam. 2006: BoI plans to upgrade the Shenzen and Vietnam representative offices to branches, and to open representative offices in Beijing, Doha, and Johannesburg. In addition, BoI plans to establish a branch in Antwerp and a subsidiary in Dar-es-Salaam, marking its return to Tanzania after 37 years. 2007: BoI acquired 76 percent of Indonesia-based PT Bank Swadesi. 2011: BoI opened a fully owned Subsidiary in Auckland, New Zealand on 6 October 2011 (Bank of India (New Zealand) Ltd.) 2012: BoI opened a fully owned subsidiary in Uganda on 18 June 2012 (Bank of India (Uganda) Ltd.).

CMD since nationalisation

19691970 : Tribhovandas Damodardas Kansara 19701975 : J.N.Saxena 19751977 : C P Shah 19771980 : H C Sarkar 19811984 : N Vaghul 19841986 : T. Tiwari 19871991 : R. Srinivasan 19921995 : G. S. Dahotre 19951997 : G. Kathuria 19971998 : M G Bhide 19982000 : S Rajagopal 20002003 : K V Krishanamurthy 20032005 : M Venugopal 20052007 : M. Balachandran 20072009 : T.S.Narayanasami 20092012 : Alok Kumar Mishra (Former chairman of Indian Bank's Association) 2012present : Vijayalakshmi R Iyer

Type Industry Founded Headquarters Key people

Public company (BSE: BOI) Financial services 7 September 1906 Mumbai, Maharashtra, India Vijayalakshmi R Iyer (CMD) Commercial Banking Retail Banking Private Banking Asset Management Mortgages Credit Cards 243,935.0 million (US$4.2 billion)[1] 53,842.3 million (US$930 million)[1] 24,887.1 million (US$430 million)[1]

Products

Revenue Operating income Net income

State bank of india is government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banksBank of Calcutta and Bank of Bombayto form the Imperial Bank of India, which in turn became the State Bank of India. Government of India nationalised the Imperial Bank of India in 1955, with Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI was ranked 285th in the Fortune Global 500 rankings of the world's biggest corporations for the year 2012.[1] SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout the country. SBI is a regional banking behemoth and has 20% market share in deposits and loans among Indian commercial banks.[3] The State Bank of India was named the 29th most reputed company in the world according to Forbes 2009 rankings[4] and was the only bank featured in the "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010.

History

The roots of the State Bank of India lie in the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of the royal charters. These three banks received the exclusive right to issue paper currency till 1861 when with the Paper Currency Act, the right was taken over by the Government of India. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company but without Government participation.

Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 30 April 1955, the Imperial Bank of India became the State Bank of India. The government of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, which made eight state banks associates of SBI. A process of consolidation began on 13 September 2008, when the State Bank of Saurashtra merged with SBI. SBI has acquired local banks in rescues. The first was the Bank of Behar (est. 1911), which SBI acquired in 1969, together with its 28 branches. The next year SBI acquired National Bank of Lahore (est. 1942), which had 24 branches. Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank, which had been established in 1916 in Gwalior State, under the patronage of Maharaja Madho Rao Scindia. The bank had been the Dukan Pichadi, a small moneylender, owned by the Maharaja. The new banks first manager was Jall N. Broacha, a Parsi. In 1985, SBI acquired the Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore, already had an extensive network in Kerala. The State Bank of India and all its associate banks are identified by the same blue keyhole logo. The State Bank of India wordmark usually has one standard typeface, but also utilises other typefaces. Structure Current Board of Directors As on 14 January 2013, there are fifteen members in the SBI board of directors:- [6]

Pratip Chaudhuri (Chairman) Hemant G. Contractor (Managing Director) Diwakar Gupta (Managing Director) A. Krishna Kumar (g Director) S. Visvanathan (Managing Director) S. Venkatachalam (Director) D. Sundaram (Director) * Thomas Mathew (Director) S.K. Mukherjee (Officer Employee Director) Rajiv Kumar (Director) Jyoti Bhushan Mohapatra (Workmen Employee Director) Deepak Amin (Director) Harichandra Bahadur Singh (Director)

International presence

The Israeli branch of the State Bank of India located in Ramat Gan. As of 28 June 2013, the bank had 180 overseas offices spread over 34 countries. It has branches of the parent in Moscow, Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg, London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. It has offshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices in Bhutan and Cape Town. It also has an ADB in Boston, USA. The Canadian subsidiary, State Bank of India (Canada) also dates to 1982. It has seven branches, four in the Toronto area and three in the Vancouver area. SBI operates several foreign subsidiaries or affiliates. In 1990, it established an offshore bank: State Bank of India (Mauritius).

State Bank of India (S.B.I.) Branch at Tsim Sha Tsui, Hong Kong In 1982, the bank established a subsidiary, State Bank of India (California), which now has ten branches nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield. In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo-Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria. In Nepal, SBI owns 55% of Nepal SBI Bank, which has branches throughout the country. In Moscow, SBI owns 60% of Commercial Bank of India, with Canara Bank owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex. The State Bank of India already has a branch in Shanghai and plans to open one in Tianjin.[7] In Kenya, State Bank of India owns 76% of Giro Commercial Bank, which it acquired for US$8 million in October 2005.[8]..

Associate banks

Main Branch of SBI in Mumbai. SBI has five associate banks; all use the State Bank of India logo, which is a blue circle, and all use the "State Bank of" name, followed by the regional headquarters' name:

State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Mysore State Bank of Patiala State Bank of Travancore

Earlier SBI had seven associate banks, all of which had belonged to princely states until the government nationalised them between October 1959 and May 1960. In tune with the first Five Year Plan, which prioritised the development of rural India, the government integrated these banks into State Bank of India system to expand its rural outreach. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline the group's operations.[9] The first step towards unification occurred on 13 August 2008 when State Bank of Saurashtra merged with SBI, reducing the number of associate state banks from seven to six. Then on 19 June 2009 the SBI board approved the absorption of State Bank of Indore. SBI holds 98.3% in State Bank of Indore. (Individuals who held the shares prior to its takeover by the government hold the balance of 1.77%.)[10] The acquisition of State Bank of Indore added 470 branches to SBI's existing network of branches. Also, following the acquisition, SBI's total assets will inch very close to the 10 trillion mark (10 billion long scale). The total assets of SBI and the State Bank of Indore stood at 9,981,190 million as of March 2009. The process of merging of State Bank of Indore was completed by April 2010, and the SBI Indore branches started functioning as SBI branches on 26 August 2010.[11]

State Bank of India Mumbai LHO. Non-banking subsidiaries[edit] Apart from its five associate banks, SBI also has the following non-banking subsidiaries:

SBI Capital Markets Ltd SBI Funds Management Pvt Ltd SBI Factors & Commercial Services Pvt Ltd SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) SBI DFHI Ltd SBI Life Insurance Company Limited

SBI General Insurance

In March 2001, SBI (with 74% of the total capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance company Ltd. In 2004, SBI DFHI (Discount and Finance House of India) was founded with its headquarters in Mumbai. Other SBI service points SBI has 27,000+ ATMs (25,000th ATM was inaugurated by the then Chairman of State Bank Shri O.P. Bhatt on 31 March 2011, the day of his retirement); and SBI group (including associate banks) has about 45,000 ATMs. SBI has become the first bank to install an ATM at Drass in the Jammu & Kashmir Kargil region. This was the Bank's 27,032nd ATM on 27 July 2012. Logo and slogan

The logo of the State Bank of India is a blue circle with a small cut in the bottom that depicts perfection and the small man the common man - being the center of the bank's business. Slogans: "PURE BANKING, NOTHING ELSE", "WITH YOU - ALL THE WAY", "A BANK OF THE COMMON MAN", "THE BANKER TO EVERY INDIAN", "THE NATION BANKS ON US"

Recent awards and recognitions

Best Online Banking Award, Best Customer Initiative Award & Best Risk Management Award (Runner Up) by IBA Banking Technology Awards 2010 The Bank of the year 2009, India (won the second year in a row) by The Banker Magazine Best Bank Large and Most Socially Responsible Bank by the Business Bank Awards 2009 Best Bank 2009 by Business India The Most Trusted Brand 2009 by The Economic Times Most Preferred Bank & Most preferred Home loan provider by CNBC Visionaries of Financial Inclusion By FINO Technology Bank of the Year by IBA Banking Technology Awards SKOCH Award 2010 for Virtual corporation Category for its e-payment solution The Brand Trust Report:[12] 11th most trusted brand in Hindustan.

Major competitor[edit] Some of the major competitors for SBI in the banking sector are ICICI Bank, HDFC Bank, Axis Bank, Bank of India, Punjab National Bank and Bank of Baroda. However in terms of average market share, SBI is by far the largest player in the market.

Home Loan from State Bank of India (SBI) Bank

SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India. SBI provides a Two Home Loan With Different benefits and Schemes. 1. SBI Easy Home Loan - For Loan amount upto Rs. 30 Lacs. 2. SBI Advantage Home Loan For Loan amount above Rs.30 Lacs.

Features: Interest charged on the daily reducing balance No penalty for prepayments made No hidden costs All the features of our product, including interest rates, are in the public domain. Loan sanctioned within 6 days of submission of required documents. Option to club income of your spouse and children to compute eligible loan amount Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount Provision to finance cost of furnishing and consumer durables as part of project cost Repayment permitted upto 70 years of age Free personal accident insurance cover upto Rs.40 Lac. Optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost) 'Plus' schemes which offer attractive packages with concessional interest rates to Govt. Employees, Teachers, Employees in Public Sector Oil Companies. Special scheme to grant loans to finance Earnest Money Deposits to be paid to Urban Development Authority/ Housing Board, etc. in respect of allotment of sites/ house/ flat Eligibility Minimum age 18 years as on the date of sanction Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid. Availability of sufficient, regular and continuous source of income for servicing the loan repayment. Loan Amount 40 to 60 times of NMI, depending on repayment capacity as % of NMI as under

Net Annual Income Upto Rs.2 lacs Above Rs.2 lac to Rs. 5 lac Above Rs. 5 lacs

EMI/NMI Ratio 40% 50% 55%

Pre-closure Penalty No penalty if the loan is precolsed from own savings/windfall gains for which documentary evidence is produced by the customer. In case, such proof is not produced by the borrower, penalty @2% on the amount prepaid in excess of normal EMI dues shall be levied if the loan is preclosed within 3 years from the date of commencement of repayment. Maximum Repayment Period for applicants upto 45 years of age: 20 years for applicants over 45 years of age: 15 years

Documents Completed application form Passport size photograph Proof of Identity PAN Card/ Voters ID/ Passport/ Driving License Proof of Residence Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID Proof of business address in respect of businessmen/ industrialists Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate, Land/ Building Tax paid receipt etc. (as applicable and subject to satisfaction report from our empanelled lawyer) Copy of approved plan and approval from the Local Body Statement of Bank Account/ Pass Book for last 6 months

The Salient features & Benefits & Why to choose Bank of India Home Loan Schemes:

To purchase/construct house/flat/renovate/extend/repair existing house/flat. Maximum loan amount is Rs.3 crores and repayment ranges upto 20 years, with reasonable processing charges. No commitment /administrative charges. Attractive home loan interest rates according to Available in Industry. Option for different EMI amounts for different periods during tenure of loan to suit customers repayment capacity. Prepayment of Loan permitted. Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount. Simplified application form/procedures for convenience of customers, and speedy approvals. Free Personal Accident Insurance cover Life Insurance Cover to borrowers for Loan Protection(optional)

Eligibility

Salaried employees , Professionals like Doctors Lawyers, Engineers , Chartered Accountants, Self employed persons. Group of Individuals , NRIs, PIOs, HUF, Prop. Firm. Partnership Firm and Corporates(for purchase/construction of houses/flats for their employees).

Interest Rates of Bank of India Home Loans:- Updated as on August 2013

Tenure Term
Loan Up to 30 lacs Loans 30 lac to 75 lacs Loans Above 75 Lacs

Interest Rate 10.00% 10.10% 10.25%

Processing Fees: Waived till 31.03.2013 for new loans sanctioned and 1st disbursement before 31.03.2013
Processing charges Processing Fees Up to 25 lacs : 0.50% of the loan amount Min Rs.4000/- and Max Rs.10,00025 75 lacs : Flat Rs.20,00075 lacs & above Flat Rs.25,000

Prepayment Charges NIL

Documents required for the Sanctioning of Home Loan Getting a home loan from ICICI Bank is easy and quick. In our endeavor to make the process convenient, we try to keep the paperwork and other formalities to a minimum. Proof of your identity, address and income are some of the key documents that are required to be submitted for ICICI Bank home loan. Documents Application form with photograph duly signed Identity, residence and age proof Last 6 months bank statements Last 3 months Salary-slips Processing fee cheque Form 16 / Income Tax Returns Proof of business existence Business profile Education qualification certificate and proof of business existence Last 3 years Income Tax Returns with computation of Income Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account yes yes yes Salaried Self Employed Professional yes yes yes Self Employed Non Professional yes yes yes

yes yes yes yes yes yes yes

yes

yes

yes yes

yes

yes

CONCLUSION

So I finally conclude that the rate of interest of bank of India is less that then the bank of india and the loan eligibility of bank of india is suitable to the middle class people who are in mostly need of loans

Sr.no

particulars

sign

1.

1 History o 1.1 Previous banks that used the name Bank of India o 1.2 The current bank o 1.3 CMD since nationalisation 2 See also 3 References 4 External links

2.

1 History 2 Structure o 2.1 Current Board of Directors o 2.2 International presence o 2.3 Associate banks o 2.4 Non-banking subsidiaries o 2.5 Other SBI service points 3 Logo and slogan 4 Recent awards and recognitions 5 Major competitor 6 See also 7 References 8 External links

3. 4. 5.

Home loan of boi Home loan of sbi conclusion