The Full Form of ‘BOI’ in Banking is ‘Bank of India’.
Full Form of BOI
BOI, or Bank of India, is one of the oldest and most respected banking institutions in the country. Founded in 1906, BOI has grown to become a major player in the Indian banking industry. With more than 5,000 branches across the country and a presence in 28 countries around the globe, BOI is one of the largest public sector banks in India.
The Bank of India was established as part of the Imperial Bank of India Act passed by British Parliament in 1906. The institution was created to provide credit support to small businesses and agriculturalists, as well as promote development through investment activities. The bank was initially called “Bank of Calcutta” before it changed its name to “Bank of India” after the formation of Union Bank of India in 1921.
BOI plays an important role in promoting economic growth and stability both within India and abroad, primarily through its lending operations. It provides financial services such as deposits, loans, mortgage services, insurance products and investments for individuals and businesses. In addition to providing traditional banking services such as checking accounts and savings accounts, BOI also provides specialized services such as venture capital financing for start-ups and NBFCs (Non-Banking Financial Companies).
BOI also has an extensive network of more than 5500 branches throughout India that provide retail banking services like debit cards, credit cards and internet banking facilities for customers. Furthermore, BOI has partnered with various government projects such as Pradhan Mantri Gramin Digital Saksharta Abhiyan that aim at providing digital access to rural areas.
Since its inception over a century ago, Bank Of India has been at the forefront of developing innovative financial solutions tailored to meet customer needs. Its commitment towards providing quality service and maintaining ethical standards have made it one of the most trusted names in Indian Banking today.
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