Bank of India ( BoI ) is a state-owned commercial bank with headquarters in Mumbai . Government-owned since nationalization in 1969, It is India 's 4th largest PSU bank, after State Bank of India , Punjab National Bank and Bank of Baroda . It has 4157 branches as on 21/04/2012, including 29 branches outside India, and about 1679 ATM..BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services. The Bank completed its first one hundred years of operations on 7 September 2006. History Previous banks that used the name Bank of India At least three banks having the name Bank of India had preceded the setting up of the present Bank of India. 1. A person named Ramakishen Dutt set up the first Bank of India in Kolkata in 1828, but nothing more is known about this bank. 2. The second Bank of India was incorporated in London in the year 1836 as an Anglo-Indian bank. 3. The third bank named Bank of India was registered in Mumbai in the year 1864. The current bank Bank of India, Mumbai Main Branch The earlier holders of the Bank of India name had failed and were no longer in existence by the time a diverse group of Hindus, Muslims, Parsees , and Jews helped establish the present Bank of India in 1906. It was the first in India promoted by Indian interests to serve all the communities of India. At the time, banks in India were either owned by Europeans and served mainly the interests of the European merchant houses or by different communities and served the banking needs of their own community.
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Bank of India (BoI) is a state-owned commercial bank with headquarters in Mumbai. Government-owned since nationalization in 1969, It is India's 4th largest PSU bank, after State Bank of India, Punjab National Bank and Bank of Baroda. It has 4157 branches as on 21/04/2012, including 29 branches outside India, and about 1679 ATM..BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services. The Bank completed its first one hundred years of operations on 7 September 2006.
History
Previous banks that used the name Bank of India
At least three banks having the name Bank of India had preceded the setting up of the present
Bank of India.
1. A person named Ramakishen Dutt set up the first Bank of India in Kolkata in 1828, but
nothing more is known about this bank.
2. The second Bank of India was incorporated in London in the year 1836 as an Anglo-
Indian bank.
3. The third bank named Bank of India was registered in Mumbai in the year 1864.
The current bank
Bank of India, Mumbai Main Branch
The earlier holders of the Bank of India name had failed and were no longer in existence by the
time a diverse group of Hindus, Muslims, Parsees, and Jews helped establish the present Bank
of India in 1906. It was the first in India promoted by Indian interests to serve all the communities
of India. At the time, banks in India were either owned by Europeans and served mainly the
interests of the European merchant houses or by different communities and served the banking
needs of their own community.
The promoters incorporated the Bank of India on 7 September 1906 under Act VI of 1882, with an
authorized capital of Rs. 1 crore divided into 100,000 shares each of Rs. 100. The promoters
placed 55,000 shares privately, and issued 45,000 to the public by way of IPO on 3 October
1906; the bank commenced operations on 1 November 1906.
The lead promoter of the Bank of India was Sir Sassoon J. David (1849-1926). He was a member
of the Sassoons, who in turn were part of a Bombay community of Baghdadi Jews, which was
Our Mission "to provide superior, proactive banking services to niche markets globally, while providing cost-effective, responsive services to others in our role as a development bank, and in so doing, meet the requirements of our stakeholders".
Our Vision "to become the bank of choice for corporates, medium businesses and upmarket retail customers and to provide cost effective developmental banking for small business, mass market and rural markets"
At Bank of India, Head Office,Star House, C-5, ‘G’ Block,Bandra-Kurla Complex,Bandra (East),
Mumbai - 400 051
Shri Alok Kumar Misra has taken over as the Chairman and Managing Director of Bank of India with effect from 5th August, 2009. Shri Misra was the Chairman & Managing Director of Oriental Bank of Commerce prior to the present assignment.Shri Misra held the post of the Executive Director of Canara Bank from 24th March 2006 to 3rd June 2007 and the Chairman & Managing Director of Oriental Bank of Commerce from 4th June 2007.
Shri N. Seshadri Executive Director
AtBank of India, Head Office,Star House, C-5, ‘G’ Block,Bandra-Kurla Complex,Bandra (East),
Mumbai - 400 051
Shri. N. Seshadri has taken over as Executive Director of Bank of India with effect from 1st November, 2010. Shri. Seshadri was General Manager at the Canara Bank prior to the current assignment. Born on 30th April, 1953, he had joined Canara Bank as an officer in 1975, he had held several distinguished positions in the Bank’s hierarchy in a career spanning 35 years. MBA and a certified Associate of the Indian Institute of Bankers Shri. Seshadri has worked extensively throughout the country and abroad.
Shri. M S Raghavan Executive Director
AtBank of India, Head Office,Star House, C-5, ‘G’ Block, Bandra-Kurla Complex Bandra (East), Mumbai - 400 051
Shri. M S Raghavan has taken over as executive Director of Bank of India with effect from 1st January 2012.Prior to the present assignment, Shri. Raghavan, a science graduate and post graduate diploma holder in Management and Financial, was General Manager with Indian Overseas Bank. Born on 8th June 1955, Shri. Raghavan had joined Indian Overseas Bank as an officer on 11th October 1976 and held several distinguished positions in the Bank’s hierarchy in career spanning 36 years. Shri.Raghavan has worked extensively throughout the country in the areas of Credit, Operations and Information Technology.
Shri Kuttappan K. NairPart-time Non-official Director(04.05.2011 to 03.05.2014)
AtA/203, New Nilesh Co-op. Housing Society Ltd.,Kandarpada,Dahisar (West),Mumbai – 400 068.
Shri Kuttappan K. Nair is B.A. (Hons.) with Economics and Diploma holder in Commerce (Govt.) and CAIIB
And has the experience of functioning as a Director on the Board of Bank of Baroda for over 10 years. He is also a social worker engaging in the socio-economic programmes of the Government and has been working both in the organized and unorganized sectors
Shri Umesh Kumar(From 22.07.2011)Till further orders Govt. Nominee Director
AtJT. SecretaryDepartment of Financial Services,Ministry of FinanceJeevandeep BuildingParliament Street,New Delhi 110 001
Shri Umesh Kumar, IAS aged 53 years, an Electronics Engineer is a Government Nominee Director of the Bank w.e.f. July 22, 2011. Shri Umesh Kumar has served in various capacities as Collector & District Magistrate, Commissioner of Rajasthan Financial Corporation and Jaipur Development Authority, Joint Secretary, Ministry of Commerce and Industry and is presently posted as Joint Secretary, Department of Financial Services, Ministry of Finance, New Delhi.
Shri Pramod K. Panda(From 30.05.2011)Till further ordersRBI Nominee Director
AtRegional Director,Bhopal Regional Office,Reserve Bank of IndiaHoshangabad Road,Bhopal - 462 011
Shri Pramod K. Panda, 54 years, a post graduate, M.Sc in Financial Regulation (London School of Economics), M.A. in Political Science and holding a Bachelors degree in Law, is currently posted as Regional Director, Bhopal Regional Office, Reserve Bank of India. He has been appointed by the Central Govt. as a Director of the Bank w.e.f. 30.05.2011.
Shri Harvinder SinghOfficer Employee Director
(01.02.2011) Till further orders
AtBank of India NRI Branch New Delhi
Shri Harvinder Singh is the General Secretary of the Federation of Bank of India Officers’ Association. He is Commerce Post graduate (M.Com) and also done LLB
Shri P.M. SirajuddinShareholder Director
(25.10.2011 to 24.10.2014)
AtMoramvilakomHouse No.33/1667-CSauhardhanagar, VennalaCochin, Kerala
Shri P. M. Sirajuddin from Cochin is a Post Graduate in Arts and is Diploma Holder in Development Administration from University of Manchester, U.K. He has been a Director on various Public Sector Banks. He retired as Joint Secretary, Government of India, and Ministry of Finance.He was elected as Shareholder Director of the Bank in 2008 for a term of 3 years from 25.10.2008 to 24.10.2011. He has been re-elected as Shareholder Director of the Bank for a fresh tenure of 3 years from 25.10.2011 to 24.10.2014.
Shri. Neeraj BhatiaPart-time Non-Official Director(17.10.2011 till further order)
P-27, 1st floorMalviya Nagar,New Delhi110017
Shri Bhatia has been appointed by the Government as part time non official Director on the Board of BOI under Chartered Accountant category vide notification dated 17.10.2011. Shri Bhatia is a Chartered Accountant and also holds a degree in Science. Shri Bhatia is a partner in M/s Samsand & Associates and the firm has been handling concurrent/stock/revenue audit of all major Public Sector Banks. The firm has also handled audits allotted by CAG for PSUs.
Shri Umesh Kumar Khaitan Shareholder Director
(25.10.2011 to 24.10.2014)39-Friends Colony (E)New Delhi110065
Shri Khaitan has been elected as a Shareholder for a term of 3 years from 25.10.2011. Shri Khaitan is a Solicitor and holds a degree in Arts. Shri Khaitan is the Managing Partner of Khaitan Sud & Partners, a leading law firm in India having four decades of legal experience. Shri Khaitan also served on the Board of Oriental Bank of Commerce as a Shareholder Director for two terms i.e. 6 years (from 07.09.2005 to 15.09.2011).
Shri. Pramod BhasinShareholder Director
(25.10.2011 to 24.10.2014)Radhe Mohan DriveFatehpur BeriNew Delhi110030
Shri Bhasin has been elected as a Shareholder Director for a term of 3 years from 25.10.2011. Shri Bhasin, is a Chartered Accountant from Thomson McLintock & Co., London and holds a Bachelor of Commerce degree from Delhi University. Shri Bhasin founded Genpact (formerly GE Capital International Services) in 1997. He was the President and CEO till June 2011 and is currently the Vice Chairman. Shri Bhasin’s career with GE and RCA spanned over 25 years across US, Europe and Asia and was most recently the head of GE Capital in India and in Asia.
CHAIRMAN
chairman
Shri Alok Kumar Misra
Shri Alok Kumar Misra has taken over as the Chairman and Managing Director of Bank of India with effect from 5th August, 2009. Shri Misra was the Chairman & Managing Director of Oriental Bank of Commerce prior to the present assignment.
Shri Misra was born on 23rd September, 1952. He was National Merit Scholar holder and is M.Sc. (Statistics) from Lucknow University. Additionally, he has various professional qualifications to his credit namely Post Graduate Diploma in Personnel Management, CAIIB, Fellow of the Certified Institute of Bankers of Scotland (FCIBS), Fellow of the Zambian Institute of Bankers (FZIB), Associate of Australasian Institute of Banking & Finance (AAIBF).
Shri Misra joined Bank of India in January 1974 as a Probationary Officer and worked in various capacities at branches and administrative offices including Planning and International Division of the Bank. In June 1999, he was seconded as Managing Director of Indo Zambia Bank Ltd., till May 2004. He was instrumental in transforming this joint venture into a profitable, focused and a forward looking Institution for which both Indian Government and Government of Zambia had praises. During his tenure, he was elevated to the post of General Manager in 2002.
After his return to India, he functioned as General Manager of the International Operations of the Bank. He provided thrust for business growth and for expansion of the overseas operations of the Bank. He was also Instrumental for successful launch of Bank’s US$ 1 Billion MTN issue.
Shri Misra held the post of the Executive Director of Canara Bank from 24th March 2006 to 3rd June 2007 and the Chairman & Managing Director of Oriental Bank of Commerce from 4th June 2007. Under his Chairmanship, Oriental Bank of Commerce had registered all time progress, total business grew by 46.15% on YOY basis, aggregate business mix reached 1,74,000 Cr as of 30th June 2009.
Shri Misra is endowed with qualities of leadership and is a firm believer in good team work. His interest also includes playing Golf.
Executive Director
Shri. N. Seshadri
Shri. N. Seshadri has taken over as Executive Director of Bank of India with effect from 1st November, 2010. Shri. Seshadri was General Manager at the Canara Bank prior to the current assignment. Born on 30th April, 1953, he had joined Canara Bank as an officer in 1975, he had held several distinguished positions in the Bank’s hierarchy in a career spanning 35 years. MBA and a certified Associate of the Indian Institute of Bankers Shri. Seshadri has worked extensively throughout the country and abroad.
Executive Director
Shri. M S Raghavan
Shri. M S Raghavan has taken over as executive Director of Bank of India with effect from 1st January 2012.Prior to the present assignment, Shri. Raghavan, a science graduate and post graduate diploma holder in Management and Financial, was General Manager with Indian Overseas Bank. Born on 8th June 1955, Shri. Raghavan had joined Indian Overseas Bank as an officer on 11th October 1976 and held several distinguished positions in the Bank’s hierarchy in career spanning 36 years. Shri.Raghavan has worked extensively throughout the country in the areas of Credit, Operations and Information Technology.
Code of conduct for directors – CHECK ON BANK S WEBSITE
CORPORATE FIANANCE
Corporate finance is the area of finance dealing with monetary decisions that business
enterprises make and the tools and analysis used to make these decisions. The primary goal of
corporate finance is to maximize shareholder value.[1] Although it is in principle different
from managerial finance which studies the financial decisions of all firms, rather than corporations
alone, the main concepts in the study of corporate finance are applicable to the financial
problems of all kinds of firms.
The discipline can be divided into long-term and short-term decisions and techniques. Capital
investment decisions are long-term choices about which projects receive investment, whether to
finance that investment with equity or debt, and when or whether to
pay dividends to shareholders. On the other hand, short term decisions deal with the short-term
balance of current assets and current liabilities; the focus here is on managing cash, inventories,
and short-term borrowing and lending (such as the terms on credit extended to customers).[citation
needed]
The terms corporate finance and corporate financier are also associated with investment
banking. The typical role of an investment bank is to evaluate the company's financial needs and
raise the appropriate type of capital that best fits those needs. Thus, the terms “corporate finance”
and “corporate financier” may be associated with transactions in which capital is raised in order to
create, develop, grow or acquire businesses.
Working capitalWorking capital (abbreviated WC) is a financial metric which represents operating
liquidity available to a business, organization or other entity, including governmental entity. Along
with fixed assets such as plant and equipment, working capital is considered a part of operating
capital. Net working capital is calculated as current assets minus current liabilities. It is a
derivation of working capital, that is commonly used in valuation techniques such as DCFs
(Discounted cash flows). If current assets are less than current liabilities, an entity has a working
capital deficiency, also called a working capital deficit.
A company can be endowed with assets and profitability but short of liquidity if its assets cannot
readily be converted into cash. Positive working capital is required to ensure that a firm is able to
continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and
upcoming operational expenses. The management of working capital involves managing
inventories, accounts receivable and payable, and cash.
Cash conversion cycleIn management accounting, the cash conversion cycle (CCC) measures how long a firm will be deprived of cash if it increases its investment in resources in order to expand customer sales. It is
thus a measure of the liquidity risk entailed by growth. However, shortening the CCC creates its own risks: while a firm could even achieve a negative CCC by collecting from customers before paying suppliers, a policy of strict collections and lax payments is not always sustainable.
