Tag Archives: Bank of India

Bank of India to cut stake in insurance JV

Reported by | Updated: November 4, 2019

Bank of India is proposing to sell 27% of its stake in Star Union Dai-ichi Life Insurance Company. The sale will help the bank to raise around Rs 1200 crore. The bank is also planning to sell its stakes in Bombay Stock Exchange, NSDL and Equifax to raise a total of Rs 1800 crore. The […]

Bank of India closes Jersey operations

Reported by | Updated: October 26, 2018

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. […]

Bank of India’s digital strategy aims at simplicity & trust

Reported by | Updated: September 19, 2018

Bank of India has identified the core building blocks in its efforts to digitize operations and the focus is now firmly on closing the saying-doing gap, says S.R. Meena, GM-IT & CIO of the bank. He tells Banking Frontiers that now more than ever, the bank relies on the digital strategy to provide services and […]

New HR framework planned by Bank of India

Reported by | Updated: April 18, 2018

Bank of India has notified the requirement of a consultant for the implementation of an integrated HR framework in the bank. The selected consultant would advise the bank in defining the requirements of the framework, and formulation and implementing of the framework and for carrying out of various new HR initiatives required to be undertaken […]

Bank of India plans to have robotic process automation

Reported by | Updated: April 18, 2018

Bank of India is planning to implement an enterprise wide Document Management System, Business Process Management and Robotic Process Automation and optionally a Central KYC Registry using artificial intelligence, cognitive capabilities, machine learning and natural language processing. The bank has sought proposals for the system from system providers, who would be required to identify the […]

Bank of India to engage HR consultancy

Reported by | Updated: March 26, 2018

Bank of India is proposing to engage a HR consultancy firm to help it develop a talent pool as well as in succession planning. The bank also wants to introduce a 360-degree appraisal cum feedback system for it to monitor the performance of its staff, especially those at the senior level, and develop a senior […]

Bank of India closes Myanmar office

Reported by | Updated: March 22, 2018

Bank of India said it has closed its representative office in Yangon in Myanmar. The closure has taken place in mid-January, the bank said. It added the ministry of planning and finance’s directorate of investment and company administration, Myanmar has allowed the termination of the representative office. The Indian government had asked public sector banks […]

Bank of India seeks SMS solution

Reported by | Updated: February 23, 2018

Bank of India will implement bulk SMS services in general text in the bank and its 4 sponsored RRBs. The bank has invited proposals from service providers for the purpose. The bank wants a system that can generate and transmit promotional SMSs, transactional SMSs (including OTPs), SMSs on missed call related services and SMSs for […]

Bank of India launches Project Connect

Reported by | Updated: July 21, 2017

Bank of India has launched Project Connect, an initiative aimed at reviving the bank after it recorded losses for 2 consecutive years and a substantial increase in NPAs. The bank’s new MD and CEO Dinabandhu Mohapatra, who took special interest in conceiving the project, said it is intended as a ‘connect’ between the bank’s staff […]

Bank of India may sell stake in subsidiaries

Reported by | Updated: June 5, 2017

Bank of India is examining whether it can sell stakes in some of its subsidiaries to meet capital requirements an overcome the debt crisis it is in. The bank’s ED N. Damodaran confirmed that the bank is proposing to sell stakes in some non-core subsidiaries and sell part of the stakes in some other subsidiaries. […]