SUBMITTED TO:

PROF. SISIR PANDA

SUBMITTED BY:

ASHUTOSH LENKA (55)

BINIT KUMAR AGARWALLA (60)
(60)
KIRTI KHANDELWAL (66)
(66)
KUSHAGRA KULSHRESTHA (67)
(67)
MOHIT JAIN (68)
NANDITA PANIGRAHI (69)
NEITI MODI (70)
PATEL VINOD KUMAR GOVINDBHAI (72)
PRITISH DASH (73)

An Overview of Bank of India 2

 Acknowledgement
Any work of this magnitude requires the inputs, efforts and encouragement of the people from all sides. In
compiling the project report on Bank of India, we have been fortunate enough to get active and kind cooperation
from many people without whom our endeavours wouldn’t have been a success.

There is an old adage that says that you never really learn a project until you practice it. So, we would like to
extend our deep gratitude and heartfelt thanks to our mentor Prof. Asit Ranjan Mohanty for extending his
immense help to us in acquiring valuable knowledge on the subject for successful completion of the project.

We are also thankful to our faculty Prof. Sisir Panda for providing an opportunity to prepare a project report on
Bank of India.

At the same time we also thank our friends who have supported us in any means.

An Overview of Bank of India 3

 Table of Contents

Particulars Page No.

Bank’s Introduction 5
Milestones 5
Awards & Accolades 6
IT Initiatives 6
Performance Highlights 7
New Products & Services 8
Business Initiatives 9
References 10

An Overview of Bank of India 4

 Bank’s Introduction
Bank of India is a premier and one of the oldest commercial banks in India, with presence all over India as
also in all time zones of the world. The Bank has a glorious history dating back to the early years of this century.
The Bank was founded in September 1906 and has all along maintained a position of pride among the top 5
commercial banks in the country. In July 1969, Bank of India was nationalized along with 13 other large Indian
commercial banks. Since then, the Bank has made enormous contribution to India's efforts towards agricultural
and rural development, industrial diversification and modernization and export development. Keeping pace with
financial sector reforms in India, the bank has ventured into Merchant Banking, Mutual Funds, Housing Finance,
and Custodial & Depository through its subsidiaries.

Today the Bank has over 2884 branches spread all over India and 27 branches/representative
offices/subsidiaries/joint ventures etc. spread in 13 countries, spanning all time zones. The International
business accounts for over 20% of Bank's total business. Bank of India believes in "Total Package Approach"
to meet all the financial and non-financial requirements of its customers.

Entrepreneurs are not only assisted in establishing their projects, but are also helped in day-to-day operations
by providing necessary working capital finance either on its own or through syndication. The Bank also provides
guarantees, letters of credit, remittance facilities, supplier's credit, forward cover, advisory services for hedging
exchange rate and interest rate risks, trade information reports, bankers' opinion reports on buyers and sellers,
industry status reports and prospects, etc. In the new era of economic and financial sector reforms leading to
progressive liberalization and globalization of the Indian market, Bank of India is poised to further its position as
a market leader and innovator in financial services. The Bank looks at the new competition emerging in the
Indian banking and financial sector as an opportunity to improve its customer servicing capability and overall
performance. The bank is pushing ahead with its plans to computerize all its major branches and administrative
offices and has also installed ATM's at few centers.

Milestones
1906: Group of eminent businessmen establishes the Bank

1946: Opening of London Branch - First-ever Indian bank to open a branch overseas

1950: Opening of Tokyo Branch - First Indian bank to open a branch in Japan

1969: Nationalization along with 13 other banks - branch network Indian: 207 & Foreign: 12

1989: Established BOI Shareholding Ltd. - a JV with Bombay Stock Exchange (BSE) to manage clearing house
of BSE

1997: Launched maiden IPO - Government shareholding diluted to 76.53%

2003: Ranked as India’s Most Trusted Service Brand consecutively for 3 years by AC Nielsen ORG-MARG

2004: Ranked 25th among India’s Top 500 companies by D & B

2007: Surpassed landmark of INR 10bn in net-profits

2008: Surpassed landmark of INR 20bn in net-profits

2009: Surpassed landmark of INR 30bn in net-profits

An Overview of Bank of India 5

 Awards & Accolades

Dun & Brad Street Award for the Best Public Sector Bank Category-2010

The Second PSU Award 2010 by Dalal Street

The award of the most efficient Public Sector Bank based on the Operating Profit / Total number of

employees, Growth in operating profit and Balance Sheet Profit

IBA banking Technology Award 2009 for the Best Business Enablement Initiatives

National Award for Excellence in Lending to Micro & Small Enterprises 2009 - Conferred by the

Government of India, Ministry of Micro, Small & Medium Enterprises

Best Education Loan Provider: Outlook Money - NDTV Profit Awards

Adjudged the Best Bank in PSU Bank Category in NDTV Profit

Business Leadership Awards 2009

Won the Award for Top Public Sector Bank under Best Bank Category & Overall Best Bank by D & B

Banking Awards 2009

First major PSU bank to receive ISO 27001:2005 certification for Data Centre & Disaster Recovery

Centre

International Award in Outsourcing - Sponsored by Everest Group & Forbes at New York, USA

Special Award for Green IT at CIO-100 event for Solar Power

Runners Up Award - FE India’s Best Bank Awards

IT Initiatives

ATM network expanded to 820 as against 500 in March’09.

Mobile Banking services extended to all retail internet banking customers.

Bank has implemented Two Factor Authentication (2FA) - star Token for both Retail and Corporate

internet banking customers as an additional security measure.

Bank has launched website in regional language "Marathi" and has plan to roll out in other regional

languages.

Credit Application Processing Systems (CAPS) introduced covering all major credit segments -Retail,

Corporate, MSME and Agriculture.

An Overview of Bank of India 6

 Performance Highlights

Global business mix reaches INR 4011 bn (USD 89.33bn)

Total assets: INR 2750 bn (USD 61.25 bn)

International business constitutes ~17.28% of total business

3236 branches including 29 branches/offices overseas

All domestic branches covered under CBS

Market cap: INR 194.71 bn (USD 4.36 bn) as on 05.05.2010

Raised INR 10 bn in July & August 2009 (Upper Tier II bonds)

Raised INR 3.25 bn in December 2009 (IPDI Bonds)

Operating profit Rs.4,705 crore and Net Profit Rs.1,741crore.

Capital Adequacy Ratio at 12.94% as against 10% prescribed by RBI (under Basel-II).

Net Worth at Rs.12,456 crore, grew by 11.78% over March 2009

Book Value per share Rs.236.84 (Rs.211.89 previous year)

Gross NPA ratio at 2.85% as on 31.03.2010.

Net NPA ratio at 1.31% as on 31.03.2010.

Total business (Deposit + Advances) reached at Rs. 401,079 crore recording a growth of Rs.
66,639crore (19.93%). Domestic business grew by 20.72% to reach the level of Rs.331,779 crore.

Total deposits increased by Rs. 40,053crore reached the level of Rs.229,762 crore, a growth of
21.11%. Domestic deposits increased by 23.26% to reach the level of Rs.196,585 crore. Share of low
cost deposits in the domestic deposits is 31.75% as on 31.03.2010.

Gross credit touched Rs.171,317 crore, recording a growth of 18.37% with domestic credit recording a
growth of 17.20% to reach level of Rs.135,194crore.

Priority Sector lending constituted 46.39% of Net Adjusted Bank Credit and the share of Agricultural
Credit to Net Adjusted Bank Credit was 16.24%.

Credit to SME sector grew from Rs.25,441 crore to Rs.29,568 crore recording a growth of 16.22%.

Schematic Retail Credit grew by 15.73% from Rs.8,714 crore to Rs.10,088crore.

Export Credit registered a growth of Rs. 602crore, i.e., 9.98% growth over previous year.

An Overview of Bank of India 7

 New Products & Services
 All domestic branches are covered under Core Banking Solution. New domestic branches opened are
directly under the CBS platform. All domestic branches are RTGS/NEFT enabled.

 Call centre facility is made operational as an alternate delivery channel to a branch set-up which would
act as a “Contact” centre and is a cost effective touch point for customers.

 Bank has launched the Marathi version of its web-site.

 Bank has launched “Welcome Kit” for all new accounts opened at the select branches of Mumbai, New
Delhi, Chandigarh and Ghaziabad. The kit contains cheque book, ATM card, Pin, TPIN and internet
PIN, the unique feature of which is that the same are in activated status from the day one.

 A web based Customer Complaint Management System has been made live from 1st January, 2010 to
reduce the response time.

 Oracle Marketing Online product has been implemented at Data Warehouse for communicating with
customers via email. With this system in vogue, Bank is able to deliver emails overnight to its
customers.

 SMS alert facility has been introduced and provided to all customers for all debit transactions from
delivery channels, all debit clearing transactions of Rs.25,000 and above, all customer induced debit
transfer and cash payments of Rs. 10,000 and above, all debit RTGS transactions and
acknowledgement on accepting the cheque book issue request.

 Bank of India is the first PSU Bank in India to implement TWO-Factor Authentication (2FA) – Star
Token for both Retail and Corporate internet banking customers as an additional security measure.
Bank’s customers enjoy the convenience of “secured” Anytime, Anywhere, Anyhow hassle free Banking
from the comfort of their homes and offices with a click of a mouse.

 Resetting or Unblocking of Internet Banking login password can be done using Debit-cum-ATM card
PIN.

 Transaction under taken through Credit Card can be viewed through Internet Banking channel.

 Provision to make online bid-cum-application for Application Supported by Blocked Amount (ASBA) IPO
issues by Retail Internet Banking Customers.

 Mobile Banking Services extended to all retail internet banking customers which includes features like
Balance enquiry, last five transactions, Cheque status, Funds Transfer and Mobile Payments.

 Bank has joined National Financial Switch (NFS) which enables customers to access more than 50,000
ATMs across the through owned as well as shared ATMs network.

 Technology has been leveraged in some important projects like Financial inclusion project for Banking
the unbanked sector, Solar Power Project which is Eco-friendly for Technology Power for Rural Areas,
V-sat Connectivity Project – Networking / connecting the Rural / Remote locations.

 Bank launched “Star Abhilasha Biometric Smart Cards” in Nagpur, Maharashtra in February, 2010.
Installation of Biometric ATMs and ATMs with easy accessibility for the physically handicapped is being
established.

An Overview of Bank of India 8

 Business Initiatives
 To strengthen our internal control system, Project STAR BOOST has been initiated by the bank to
leverage technology for more effective and focused audit. With the launch of this programme bank has
established a Back Office for Offsite Audit and related work and is effectively making use of CAAT
(Computer Aided Audit Tools). The Audit Exception Reports (AER) are generated in advance and sent
to branches for compliance before commencement of audit. This process is expected to improve the
audit rating of the branches.

 Bank has opened Global Remittance Centre (GRC) at Mumbai. The inward remittances, SB NRE /
NRO Account opening of NRI customers have been centralized at GRC. Bank has initiated the process
for establishing a hub for the purpose of handling the documentation part of Trade Finance portfolio.

 With a view to enhance the corporate image and identity, Bank has initiated media campaigns on the
existing theme “Relationships beyond Banking”. Three TVCs were produced in line with our
Relationship theme viz. Old Couple, Friends and Bus which were aired on both National as well as
Regional Channels.

 For building the brand image and increasing the visibility and better marketing of various products
through publicity, Bank has also been advertising our products in newspapers, magazines, television,
Hoardings, banners, bus panels, trains, glow signs at railway stations, events and sponsorships,
leaflets and brochures, etc.

 Introduction of Credit Application Processing Systems through software termed as CAPS which covers
all major credit segments - Retail, Corporate, MSME and Agriculture. This has been launched from
15.02.2010 on pilot basis to cover Retail loans at all 24 Retail Hubs and select 263 branches across the
Zones. It will be a fully Automated system to improve credit delivery.

 Two new products, “Star Suraksha SB account” and “Star Benefit CD account” having unparallel
features were launched on the Bank’s Foundation Day on 7th September, 2009 for improving the CASA
business.

 To give a boost to SME business, Bank has SME branches and also SME hubs and Nodal Officers at
all Zonal Centers.

 Bank has devised a Composite Loan Scheme for MSE sector borrowers in Rural / Semi Urban and
Urban areas for maximum exposure of up to Rs. 5 lacs per borrower. The scheme has unique features
like simplified application cum proposal format, hassle free minimum documentations, relaxed margin
and interest rates, etc.

 MOUs have been signed with Tata Motors, M/s. Piaggio Vehicles Pvt. Ltd., M/s. Asia Motor Works, M/s.
JCB India Ltd., M/s. Mahindra Navistar, M/s. Ashok Leyland Ltd., Sonalika Group of companies etc. for
financing vehicles / earth moving equipments.

An Overview of Bank of India 9

 References

Websites

www.bankofindia.com
www.economictimes.indiatimes.com
www.rbi.org.in
www.moneycontrol.com
www.livemint.com

Annual Reports

CMIE Prowess

CMIE EIS

An Overview of Bank of India 10