Vinod Chandrashekhar Dixit
Bank of India (BOI) celebrates its 120th Foundation Day on September 7, 2025, marking a remarkable journey in tandem with India’s nation-building efforts. Established on September 7, 1906, by visionary businessmen from Mumbai, including Sir Sassoon J. David, Sir Cowasjee Jehangir, and Ratanji Dadabhoy Tata, BOI began with a single office in Mumbai and a paid-up capital of ₹50 lakh. Today, it stands as a formidable institution with a robust national presence and significant international operations.
BOI takes immense pride in its role as a keeper of trust, upholding an ethical culture and a value system that prioritizes customers above all. Over the years, the bank has grown exponentially, earning recognition as one of India’s premier nationalized banks. It has been lauded for its customer service, consistently ranking among the best nationalized banks in surveys, often surpassing even some foreign banks. BOI has also demonstrated that public relations and marketing are integral to banking, emphasizing the importance of understanding customers as the cornerstone of its success. In its 119-year journey, the bank has overcome numerous challenges to establish a pan-India network and a substantial overseas presence, playing a pivotal role in India’s growth story.
With over 5,300 branches across all states and union territories, including specialized branches, BOI operates through 69 Zonal Offices and 13 Field General Manager Offices. Internationally, it maintains 47 branches and offices, including 22 own branches (such as the International Business Unit at GIFT City, Gandhinagar, Gujarat), one representative office, four subsidiaries (with 23 branches), and one joint venture. As the Indian banking sector grows rapidly, BOI stands out among public sector banks for delivering smart banking solutions tailored to customer needs. Its marketing strategy leverages a mix of mediums—internet, newspapers, magazines, and television advertisements—to effectively communicate with its clientele.
Rooted in principles of nation-building, ethics, integrity, and customer value, BOI fosters pride among its employees while contributing to society through profitable growth. Under the dynamic leadership of Managing Director and CEO Rajneesh Karnatak, alongside Executive Directors P. R. Rajagopal, Subrat Kumar, and Rajiv Mishra—all seasoned banking professionals—BOI is poised for transformative growth and business excellence in the coming quarters.
While adhering to prudence and caution, BOI has been a pioneer in introducing innovative services and systems. It blends traditional values with modern infrastructure, making it the first Indian bank promoted by Indian interests to serve all communities. Headquartered in Mumbai, BOI offers a wide range of banking products and financial services for corporate and retail customers. It provides specialized services for businesses dealing in foreign exchange, non-resident Indians (NRIs), merchant banking, and more. Additionally, BOI operates specialized branches focusing on asset recovery, high-tech agricultural finance, lease finance, treasury, and small-scale industries. The bank’s operations are segmented into Treasury Operations, Wholesale Banking Operations, and Retail Banking Operations.
BOI’s strategy emphasizes serving customers through digital and digital-assisted modes, ensuring competitiveness in the evolving marketplace. A successful digital transformation will solidify BOI’s position as a leader in the banking sector.
As BOI marks its 120th year, its legacy of trust, innovation, and nation-building continues to thrive, setting the stage for even greater milestones in the future.
(Note: Vinod Chandrashekhar Dixit is a
Freelance Journalist, Writer & Cartoonist
Limca Book of Record Holder (7 Times)
Jodhpur Tekra, Satellite, Ahmedabad 380015 Email: dixitpatrakar@yahoo.in)
