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Bank of India closes Jersey operations

Bank of India has wound up its operations at Jersey in the Channel Islands. The bank issued a regulatory notification to this effect and stated that Jersey Financial Services Commission has allowed the closure of the branch with effect from 18 October 2018. The bank had also closed its operations in Yangoon, Bostwana and Dubai. It now has overseas operations in Japan, Singapore, the UK, Vietnam, France, Kenya, the US, Uganda, Hong Kong, New Zealand, Tanzania and South Africa. The closure of overseas branches is part of the banks’ efforts to wind up the unviable operations as per the instructions of the finance ministry.

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