Bank of India, established during the year 1904 is headquartered in Mumbai, Maharashtra. Bank of India is widely recognized as the fourth largest nationalised
bank in the country having a wide network of branch operations with
almost 4322 branches across the country.
Find below the list of Bank of
India Branches in Hyderabad along with their address, contact number,
IFSC code and branch code.
The government in August 2019, announced a merger of ten public sector banks into four. One of the benefits of consolidation is higher operational efficiency gains to the reduction of the cost of lending according to the official presentation made at the time of the announcement.
RBI by virtue of Section 35A and Section 44A of the Banking Regulation Act, 1949 issued a Master Directions named “Reserve Bank of India (Amalgamation of Private Sector Bank) Direction, 2016.
Under Indian Law, Mergers and Acquisitions safeguard the interest of the secured creditors, in the case of SEBI and Competition law, its targets to shield investors and adverse effects on trade-related competition covered under Companies Act, SEBI, and Competition Act 2002.
The Punjab National Bank has been merged with Oriental Bank of Commerce and United Bank of India and Canara Bank has been merged with Syndicate Bank.