BoI News

The Tier II capital is raised for augmenting the overall capital of the Bank and for enhancing the long term resources in accordance with the RBI guidelines, said Bank of India.  

The Base Issue size was Rs.2,000 crore with Green Shoe option of Rs.3,000 crore.  

The bank has increased the mark-up by 10 bps from the existing level of 2.75 percent to 2.85 percent.

With a 30-year tenor home loan at 8.3 percent, the starting EMI (monthly installment) is as low as Rs 755 per lakh.

The Bank of India Super Special Fixed Deposit is applicable for specific maturity period of 175 days with effect from 1st January, 2024, said the company.  

The Nari Shakti Savings Account can be opened at all 5132 domestic branches and also through digital platforms.

Public Sector Lender Bank of India has an important message for the customers using its debit card. The bank has said that from 31st October, customers' debit card will be discontinued if they fail to link their mobile number. Bank of India has tweeted, "As per regulatory guidelines valid mobile number is mandatory for availing Debit Card Services. you are requested to kindly update/register your mobile number before 31.10.2023 by visiting your branch for discontinuation of Debit Card Services".

Bank Of India has said that these features are offered to our existing as well as new customers which are on-boarded to the Bank from any platforms.   

BOI Mobile-Omni Neo Bank app will make customers to enjoy 360 degree banking facilities along with investments, payments/ remittances, shopping and managing all accounts seamlessly. 

Automated Teller Machine (ATM) helps you to withdraw cash from your account via debit card. Every bank provides this facility. However, customers need to pay some charges after a certain number of withdrawals in a month. The charges vary bank to bank and number of withdrawals. Let’s try to explore the various charges implemented by banks on cash withdrawals from ATM:

The bank's core net interest income was up over 37 percent to Rs 5,493 crore on a 13 percent growth in advances.

The notifications for the two appointments came after the approval of the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi.

The current interest rate is 8.30 per cent per annum. The Bank of India also eases the approval process of the loan. The applicant will get the facility of an overdraft.

The one-month MCLR remains at 7.3%, the three-month MCLR remains at 7.35%, and the three-year MCLR remains at 7.80%. Banks have been raising interest rates on both deposits and loans in recent months. In early August, the RBI's Monetary Policy Committee raised the key repo rate by 50 basis points to 5.4 percent.

Quality education in India or abroad, however, is typically an expensive endeavor that calls for careful financial planning. RBI continues to increase the repo rate from previous financial quarters and it directly affects the interest rate of education loans.  Here're all the lists of the banks that are still offering low-interest rates on education loans. 

In case of Oriental Bank of Commerce, the net NPA has come down to less than 6 per cent as the government has infused sufficient capital, it said.

The Centre has also intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of PNB.

High-ranking Pakistani official acknowledges that there is fear among Western investors that China could be given preferential treatment.

It is to be noted that the bank has been placed under the Prompt Corrective Action (PCA) framework by the Reserve Bank of India (RBI) following inspection of books in March 2017.

Public sector lender Bank of India (BOI) has sold its entire 5 percent stake in credit information firm TransUnion CIBIL Ltd to TransUnion International Inc for Rs 190.62 crore.