Bank of India
From Wikipedia, the free encyclopedia
Bank of India (BoI), established on 7th September, 1906 with headquarters in Mumbai, is currently (2007) India's one of the leading banks. BoI has more than 42,000 employees, and has around 2,645 branches including 24 branches outside India. The Bank completed one hundred years of its operations on 7th September, 2006.
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[edit] History
[edit] Timelines
- 1906: Founded with Head Office in Mumbai.
- 1946: BoI opened a branch in London, the first Indian bank to do so. This was also the first post-WWII overseas branch of any Indian bank.
- 1950: BoI opened branches in Tokyo and Osaka.
- 1951: BoI opened a branch in Singapore.
- 1953: BoI opened a branch in Kenya and another in Uganda.
- 1953: BoI opened a branch in Aden.
- 1955: BoI opened a branch in Tanganyika.
- 1960: BoI opened a branch in Hong Kong.
- 1962: BoI opened a branch in Nigeria.
- 1967: The Government of Tanzania nationalised BoI's operations in Tanzania and folded them into the government-owned National Commercial Bank, together with those of Bank of Baroda and several other foreign banks.
- 1969: The Government of India nationalised the 14 top banks, including Bank of India. In the same year, the People's Democratic Republic of Yemen nationalised BoI's branch in Aden, and the Nigerian and Ugandan governments forced BoI to incorporate its branches in those countries.
- 1970: National Bank of Southern Yemen incorporated BoI's branches in Yemen. BoI was the only Indian bank in the country.
- 1972: BoI sold its Uganda operation to Bank of Baroda.
- 1973: BoI opened a rep in Jakarta.
- 1974: BoI opened a branch in Paris. This was the first branch of an Indian bank in Europe.
- 1976: The Nigerian government acquired 60% of the shares in Bank of India (Nigeria).
- 1978: BoI opened a branch in New York.
- 1970s: BoI opened an agency in San Francisco.
- 1980: Bank of India (Nigeria) Ltd, changed its name to Allied Bank of Nigeria.
- 1986: BoI acquired Parur Central Bank (headquartered in Parur) in India in a rescue.
- 1987: BoI took over the three UK branches of Central Bank of India (CBI). CBI had been caught up in the Sethia fraud and default and the Reserve Bank of India required it to transfer its branches.
- Early-1990s: BoI acquired Karur Central Bank in Kerala in a rescue.
- 2003: BoI opened a representative office in Shenzen.
- 2005 BoI opened a representative office in Vietnam.
- 2006 BoI plans to upgrade the Shenzen and Vietnam representative offices to branches, and to open representative offices in Beijing, Doha, and Johannesburg. In addition, BoI plans to establish a branch in Antwerp and a subsidiary in Dar-es-Salaam, marking its return to Tanzania after 37 years.
[edit] The Chiefs
- Prior to nationalisation
- Chairmen
- 1906-1926: Sir Sassoon David, Baronet
- 1926-1934: Sir Cowasjee Jehangir, 1st Baronet
- 1934-1935: Mr. Ambalal Sarabhai
- 1935-1946: Mr. Chunilal V. Mehata K.C.S.I.
- 1946-1962: Sir Cowasjee Jehangir, 2nd Baronet. G.B.E.. K.C.I.E.
- 1962-1965: Mr. A. D. Shroff
- 1965-1968: Mr. Krishnaraj M. D. Thackersey
- 1968-1969: Mr. T. D. Kansara
- After nationalisation
- Custodians
- 1969-1970: Mr. T. D. Kansara
- 1970-1972: Mr. J. N. Saxena
- Chairmen & Managing Directors
- 1972-1975: Mr. J N Saxsena
- 1975-1977: Mr. C P Sah
- 1977-1980: Mr. H C Sarkar
- 1981-1984: Mr. N Vaghul
- 1984-1986: Mr. T. Tiwari
- 1987-1991: Mr. R. Srinivasan
- 1992-1995: Mr. G. S. Dahotre
- 1995-1997: Mr. G. Kathuria
- 1997-1998: Mr. M G Bhide
- 1998-2000: Mr. S Rajagopal
- 2000-2003: Mr. K V Krishanamurthy
- 2003-2005: Mr. M Venugopal
- 2005 onwards: Mr. M. Balachandran
[edit] See also
[edit] Reference
- The Bank of India Story (First Published 2006) by Raghu Palat
