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Bank of India

Indian public sector bank

Bank of India (BoI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founding member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.2 It was founded by Sir Sassoon David, 1st Baronet.1 It employed about 45,600 people in 2015.1 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

Sep 7, 1906Founded1

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Photo: Udaykumar PR, CC BY 3.0, via Wikimedia Commons4

Bank of India (BoI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founding member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.2

The story

Founded by Sir Sassoon David, 1st Baronet on Sep 7, 1906.1

Bank of India was cofounded on 7 September 1906 by Ramnarain Ruia (also known as Ramnarain Hurnundrai), Sassoon Jacob Hai David, Ratanjee Dadabhoy Tata, Gordhandas Khattau, Sir Cowasjee Jehangir, Lalubhai Samaldas, Khetsey Khiasey, Jenarrayen Hindoomull Dani, Noordin Ebrahim Noordin, and Shapurji Broacha from Mumbai, India. The Bank was under private ownership and control till 19 July 1969 when it was nationalised along with 13 other banks.

Beginning with one office in Mumbai, with a paid-up capital of ₹50 lakh (US$52,000) and 50 employees, the Bank has made a rapid growth over the years.

The bank has over 5,084 branches in India spread over all states and Union territories including specialised branches. These branches are controlled through 54 zonal offices. There are 60 branches, 5 subsidiaries, and 1 joint venture abroad.

The bank came out with its maiden public issue in 1997 and follow on Qualified Institutions Placement in February 2008.

From Wikipedia’s article on Bank of India, shared under CC BY-SA 4.0.3

Leadership

Who has led Bank of India, and when. Pick a name to see everywhere that person has worked.

Subsidiaries and ownership

Owners

  • Government of India

From Wikidata.1

Employees over time

  • 201545,6131

Timeline

  1. Sep 7, 1906Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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