Bank of India sets up International Banking Unit and NRI Help Centre at GIFT City Gandhinagar
· BOI expects to achieve a USD 1-billion business through GIFT City branch by March 2024
Bank of India – a major public sector bank with a significant international presence – today launched its IFSC Banking Unit and NRI Help Centre. Located in GIFT City Gandhinagar, the IFSC Banking Unit will provide a range of global banking financial solutions, including External Commercial Borrowing (ECBs), Trade Finance Facilities, Foreign Currency Loans, Syndication Loans (Origination, Underwriting & Distribution), Foreign Currency Deposit Accounts as well as Current & Term Deposits, besides offering digital banking facilities through transaction-based Internet Banking facility to its clients.
The NRI Help Centre will provide comprehensive support and services to NRI customers. The Centre will be staffed by trained officers who will assist people with a wide range of needs and customer support. The NRI Help Centre will have a dedicated team of officers working in shifts from 7:00 am to 10:00 pm. It will ensure extended support to NRIs across different time zones. A recorded ISD Telephone line +91 79 6924 1100 and a dedicated email ID FEBO.NRI@bankofindia.co.in has been established for any assistance. This Centre will also assist the bank’s branches in resolving issues faced by NRI customers during branch visits.
The IFSC Banking Unit and NRI Help Centre were inaugurated by Shri Rajneesh Karnatak, MD & CEO of Bank of India, in the presence of the Bank’s Executive Director Shri Swarup Dasgupta and IFSCA Executive Director Shri Pravin Trivedi on 12 July 2023.
Shri Rajneesh Karnatak, MD & CEO, Bank of India, said: “The launch of the IFSC Banking Unit and NRI Help Centre is a significant milestone in Bank of India’s journey to becoming a global bank. The Bank aims to touch a business of USD 4 billion with equal distributions of advances and deposits in the subsequent three years by March 2027 through its IFSC banking unit at GIFT City.”
Through its NRI Help Centre, Bank of India strives to enhance the banking experience of NRIs and reinforce its commitment to their financial needs. This Centre will work as a back office for foreign exchange transactions of NRI customers, including inward remittances, outward remittances and centralised account opening. The NRI Help Centre will have an NRI welcome centre for one-to-one meeting opportunities during their visits, especially the Pravasi Bharatiya Diwas.
