Page 8 - Bank Of India

Local vs foreign: How a creditor revolt scuttled RIL's Future Retail deal

FRL's offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100% payment, while local lenders were asked to take a haircut

Bank of India plans to raise up to Rs 2,500 cr equity capital in FY23

Lender could look at options such as QIP, FPO and preferential issue

Bank of India moves NCLT as lead lender to Kishore Biyani-led Future Retail

BoI's loan exposure to Future Retail is Rs 1,441.62 crore

BoI drags Future Retail to NCLT, suggests V K V Iyer's name as IRP

Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the 'process of taking legal advice'

Bank of India moves NCLT against Future Retail, files insolvency plea

Earlier this month, Future Retail had reported a default of Rs 5,322.32 cr to its lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues

Bank of India invests nearly Rs 109 cr in NARCL

The bank's shareholding in NARCL will come to 9 per cent as on March 21, 2022

Bank of India says it can absorb mark-down of recapitalisation bonds

Lender makes statement as central bank expresses concern at the recapitalisation of state-owned lenders through zero-coupon bonds.

Bank of India Q3 net up 90% to Rs 1,027 cr on sharp fall in provisions

The bank's NII declined by 18.7% to Rs 3,407 crore in reporting quarter

Bank of India holds loan outreach programme, disburses Rs 12,500-cr credits

The credit outreach programme was launched on October 16 by all banks across the country on the advice of Finance Minister Nirmala Sitharaman

Tata Motors ties up with Bank of India for vehicle financing

Tata Motors on Tuesday said it has partnered with Bank of India (BOI) to offer finance options to all its passenger vehicle customers. Under the partnership, BOI will provide loans to Tata Motors' customers at an interest rate starting from as low as 6.85 per cent, the company said in a statement. Moreover, the scheme will offer a maximum of 90 per cent financing on the total cost of the vehicle, which includes insurance and registration, it added. Customers can also opt for EMI starting with Rs 1,502 per lakh on a 7-year repayment period, the company said. "This partnership is in line with our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season," Tata Motors Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit Rajan Amba said. BOI General Manager - Retail ...

Bank of India Q2 net doubles to Rs 1,051 cr on spike in non-interest income

However, NII fell by 14.32% in the reporting quarter to Rs 3,523 crore

Bank of India Sep qtr profit soars nearly 100% to Rs 1,051 crore

The bank had posted net profit of Rs 526 crore in the same period a year ago

BOI to adopt 10 girl children under 'Star Angel' initiative in Ladakh

The newly opened Leh branch of state-run Bank of India (BOI) is going to adopt 10 girl children under the star angel initiative in Ladakh, its top official said on Sunday.

NTPC's renewable arm signs first green term loan of Rs 500 cr with BoI

The deal is at a competitive rate with a tenure of 15 years, for its 470 Mw solar projects in Rajasthan and 200 Mw in Gujarat

Bank of India raises Rs 1,800 cr via Basel-III-compliant bonds

State-owned Bank of India on Thursday said it has raised Rs 1,800 crore by issuing Basel-III-compliant bonds. The bank raised Rs 1,800-crore Basel-III-compliant tier-II bonds on September 29 on a private placement basis, it said in a statement. The 10-year tenure bonds with a 5-year call option had a base issue size of Rs 1,000 crore and carries a coupon rate of 7.14 per cent. The issue was oversubscribed by two times, said the lender. "Bank has also successfully concluded the QIP issue of Rs 2,550 crore during August 2021, and with this issuance of QIP (qualified institutional placement), the Government of India stake in the bank has reduced to 81.41 per cent from 90.34 per cent earlier," it said. Earlier, Bank of India had raised Rs 1,352 crore of Basel-III compliant additional tier-I bonds on a private placement basis. Adequate capital buffer will facilitate better management of asset erosion, if any, and growth in the loan book through better risk appetite in a real sector ..

NTPC REL signs first green term loan pact of Rs 500 cr with Bank of India

State-run power giant NTPC on Thursday said its arm NTPC Renewable Energy Ltd (NTPC REL) has signed the first green term loan agreement of Rs 500 crore with Bank of India

Bank of India to raise up to Rs 1,800 cr in capital via tier-II bonds

Crisil upgrades rating for Tier-I bonds to "AA" reflecting the lender's improved capital ratios and greater ability to make future coupon payments

Bank of India ties-up with MAS Financial Services for co-lending

State-owned Bank of India (BOI) on Tuesday said it has entered into a co-lending arrangement with MAS Financial Services for MSME loans. The tie-up comes on the occasion of the bank's 116th Foundation Day. Co-lending was introduced by the RBI to increase the credit flow to the unserved and underserved sector by utilising the nimble-footed NBFC coverage to the informal sector. BOI will leverage the reach of NBFC to build an MSME portfolio, Atanu Kumar Das, Managing Director & CEO, Bank of India said in a release. Celebrating Foundation Day across all its 10 national banking group (NBG) offices, 59 zonal offices, 5,084 domestic and 23 overseas branches, and 5,323 ATMs, Das expressed gratitude to all the stakeholders. The bank marked the special occasion by celebrating 'Azadi Ka Amrit Mahotsav' and pledged to continue serving the nation and its citizens. On the occasion, the bank unveiled various new schemes for farmers and undertook several initiatives, such as tree plantation, ...

LIC picks up 4% stake in Bank of India via open market transaction

LIC has picked up nearly 3.9 per cent (15,90,07,791 shares) of the bank through open market acquisition

Bank of India looks to cut govt stake with follow-on equity offer in FY23

It is keen on bringing the holding down to 75%, which Sebi has been advising, the bank's MD and CEO Atanu Kumar Das said