Question 1

What is Bank of India?

Accepted Answer

Bank of India is an Indian public sector bank operating a branch in Paris, France. As one of India's largest nationalized banks, Bank of India has maintained a presence in France since establishing its Paris branch. The branch focuses on providing banking services to individuals, businesses, and the Indian diaspora in France, while facilitating trade and financial transactions between India and France.

Question 2

When was Bank of India founded?

Accepted Answer

Bank of India was founded on September 7, 1906, in Mumbai (then Bombay), India, by prominent Indian businessmen including Ramnarain Ruia, Sassoon Jacob Hai David, and members of the Tata family. The bank was nationalized in 1969 along with 13 other Indian banks. The Paris branch specifically was established on May 17, 1974, and celebrated its Golden Jubilee in 2024, marking 50 years of service in France. The branch received authorization from French banking authorities on February 20, 2018.

Question 3

Where is Bank of India headquartered?

Accepted Answer

The global headquarters of Bank of India is located in the Bandra Kurla Complex in Mumbai, India. The Paris branch is located at 4 Rue Halévy (previously 13 Rue Scribe), 75009 Paris, France.

Question 4

Where does Bank of India operate?

Accepted Answer

In France, Bank of India operates primarily from its Paris branch, serving customers throughout the country. Globally, Bank of India has an extensive network with over 5,200 branches in India and more than 45 overseas branches across 13+ countries. The Paris branch was Bank of India's first overseas location when it opened in London in 1946, with Paris following in 1974.

Question 5

What services does Bank of India offer?

Accepted Answer

Bank of India Paris Branch offers comprehensive banking services including corporate banking, trade finance, international settlement, remittance services, foreign exchange operations, deposit accounts, loans, and NRI (Non-Resident Indian) banking services. The branch provides specialized services for the Indian diaspora including NRE/NRO accounts, FCNR deposits, remittances to India, and support for Indian citizens and businesses operating in France. Corporate services include financing for businesses engaged in Indo-French trade.

Question 6

What makes Bank of India unique?

Accepted Answer

Bank of India Paris Branch is distinguished by its 50-year legacy in France, making it one of the longest-established Indian banks in the country. The branch has played an instrumental role in enhancing economic and cultural ties between India and France. The Golden Jubilee celebration in May 2024 was attended by high-profile guests including the Indian Ambassador to France, Javed Ashraf, and Sanskrit scholar Dr. Pierre-Sylvain Filliozat (Padma Shri Awardee). Bank of India is also a founding member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), reflecting its pioneering role in international banking.

Question 7

What type of financial institution is Bank of India?

Accepted Answer

Bank of India Paris Branch is classified as a non-EEA branch (CRDNONEEA_BRA) under European Banking Authority regulations. It operates as a foreign bank branch of Bank of India Limited, an Indian public sector bank headquartered in Mumbai. The branch is supervised by the Autorité de contrôle prudentiel et de résolution (ACPR), the French banking regulator, and participates in the French Deposit Guarantee and Investors Guarantee Fund (Fonds de Garantie des Dépôts et de Résolution), providing deposit protection for eligible depositors.

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