ABOUT US

4.b.i The particulars of organization functions and duties The Bank was founded in September 1906 as a private entity and was nationalised in July 1969. Now, Bank Of India, is a Body Corporate constituted under The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, with its Head Office at Star House, Plot No.C-5, G Block, Bandra-Kurla Complex, Bandra East), Mumbai 400 051. The Bank is doing the business of banking which means the accepting of deposits for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise. In additions to the business of banking Bank is also engaged in other forms of business as contemplated under Sec. 6 (1) of the Banking Regulation Act,1949.
The information about Bank’s subsidiary, joint venture and associates etc. can be viewed by the public in the Bank’s website www.bankofindia.com under the icon of “Bank’s Network.

4.b.ii The powers and duties of its officers and employees
All the officers from JMGS I to TEGS VII grade of the bank, have certain discretionary lending and administrative powers depending upon their positions. The delegation of such powers of various grades of officials is decided by Board of Directors of the Bank. These powers are revised periodically, depending upon the organization's requirement and also Government / RBI guidelines. Whether to sanction a loan or not, is within the absolute discretion of the concerned sanctioning authority of the bank and such discretion is exercised, after taking into consideration the relevant facts, circumstances and on merits of each case.

4.b.iii The procedure followed in the decision making process, including channels of supervision and accountability.
There is a well defined system in the Bank for decision making process. Lending and administrative decisions are taken at various levels from JMGS I to Top Executive grade Scale VII and also by Executive Director and Chairman & Managing Director based on the powers delegated to them by the Board. Branches receive applications for credit facilities and recommend to the appropriate sanctioning authority. In the case of major retail loan products applications are processed at branches and Centralised Credit Processing Cells at select centers.
There is a well defined organizational structure and clear system of accountability based on RBI / CVC guidelines. All credit decisions approved by any sanctioning authority are reported to the next higher authority for control purpose. The system of exercising proper delegation of power and submission of control reports is in place and they are monitored by control officer and through internal inspection.

All the functions of the Bank are subjected to Internal/Concurrent Audit/Statutory Audit as well as supervision of RBI u/s 35 of Banking Regulation Act 1949, every year.

The important policies of the Bank i.e. (a) Fair Lending Practices Code, b) Code of Bank’s Commitments to Micro & Small Enterprises, (c) Fair Practices Code, (d) Saving Bank & Current Deposit Rules, (e) Term Deposit Rules, (f) Cheque Collection Policy, (g) Compensation Policy, (h) Grievances Redressal Policy, (i) Policy on Collection of dues and repossession of security, Bank’s various schemes on priority sector/ Social Banking etc. can be viewed from the Bank’s website under the icon of ‘Customer Corner’.
Under the icon of ‘Investor’s Corner’ of Bank’s website, the shareholding pattern of the Bank, financial results, annual reports, Annual General Meeting, Auditors of the Bank etc. are available.

4.b.iv The norms set by the Bank for the discharge of its functions.
Head Office decides the rates to be offered by the Bank for the deposits, for different tenures which are displayed in the Bank's website and also at the branches. Regarding the advance, again the Head Office takes a decision on introduction of various loan products and details of which are also available in the website as well as at the branches. Head Office also decides about the rates of interest for various advances which again are available on our website and also at the offices / Branches of the Bank.

4.b.v The rules, regulations, instructions, manuals and records, held by the Bank or under its control or used by its employees for discharging its functions.

Bank has notified its BOI (Shares and meetings) Regulations 2003 through Gazette Notification dated 22.11.2003 for the information of shareholders and General Public. Those who desire the information on the issues relating to the said matters may refer to the said
notification.

Bank has its own internal rules and regulations and scheme of delegation that are decided at appropriate level for the smooth functioning of the Bank. Head office also through its internal circulars periodically inform the branches of its new schemes, procedures for implementation, changes occurring in the banking scenario and steps to be taken to move with the developments in the Banking Industry. These are all meant only for internal circulation of Bank.

4.b.vi A statement of the categories of documents that are held by the Bank or under its control
The documents being obtained at the time of lending are available with branches of Bank. A brief description of Bank's procedure of lending is already on its website. Bank otherwise maintains register of share holders and record of proceedings of the Board meeting.

4.b.vii The particulars of any arrangement that exists for consultation with, or representation by, the members of the public in relation to the formulation of its policy or implementation thereof.

Shareholders can raise issues concerning the policies of the Bank in the Annual General Meetings of the Bank. Bank also publishes its quarterly and annual results/reports in the Bank's website and in the news papers at the relevant period which would give a general idea about the Bank.

4.b.viii A statement of the boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice, and as to whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public The Bank has following Sub Committees of the Board

Bank also functions through various committees and such committees advise Bank on the various issues. Bank has the following mainly among other committees :

a) Management Committee of the Board,
b) Audit Committee of the Board,
c) Risk Management Committee,
d) Share Holders'/Investor's Grievances Committee,
e) Committee for Customer Service.

The Public cannot participate in these Committees and the Minutes of the meetings are not accessible to Public since these are confidential in nature.

4.b.ix A directory of its officers and employees.
The list of Branches and officers posted therein are available with the respective Zones and the Central Public Information Officer of each Zone has the details of employees of the Zone and Branches under it. The names and addresses of the Central Public Information Officers are already published on the Bank's website also.

4.b.x The monthly remuneration received by each of its officers and employees, including the system of compensation as provided in its regulations
The pay scales of employees of the Bank are fixed by IBA in consultation with Government of India, Ministry of Finance, New Delhi. The scale of pay of its employees as of now is given below :

Scales of Pay of Officers :

Scale I = Rs.14500 - 600/7 - 18700 - 700/2 - 20100 - 800/7 - 25700
Scale II = Rs.19400 - 700/1 - 20100 - 800/10 - 28100
Scale III = Rs.25700 - 800/5 - 29700 - 900/2 - 31500
Scale IV = Rs. 30600 - 900/4 - 34200 - 1000/2 - 36200
Scale V = Rs. 36200 - 1000/2 - 38200 - 1100/2 - 40400
Scale VI = Rs.42000 - 1200/4 - 46800
Scale VII = Rs. 46800 - 1300/4 - 52000.

Scales of Pay of Clerical Staff :
Rs.7200 - 400/3 - 8400 - 500/3 - 9900 - 600/4 -12300 - 700/7 - 17200 -1300/1 - 18500 - 800/1 - 19300.

Scales of Pay for Subordinate Staff :
Rs.5850 - 200/4 - 6650 - 250/5 - 7900 - 300/4 - 9100 - 350/3 - 10150 -400/3 - 11350.

4.b.xi The budget allocated to each of its agency, indicating the particulars of all plans, proposed expenditures and reports on disbursements made.
There are no plans and budgets for expenditure of public money disbursements and the provision is not applicable to that extent to Bank.

4.b.xii The manner of execution of subsidy programmes including the amounts allocated and the details of beneficiaries of such programmes.

There are no subsidy programmes for lending activities as a whole, except for targets for priority sector lending on merits of each case. There are schemes for advances of the Bank and the terms and conditions are available in the Bank's website.

4.b.xiii Particulars of recipients of concession, permits or authorizations granted by it.
There is no system in the Bank for grant of concessions, authorization etc. And the provision is not applicable to Bank. So there is no material in the Bank relevant to this provision.

4.b.xiv Details in respect of the information available to or held by it, reduced in an electronic form.

As has been stated earlier, Bank's website gives a general information on deposits, advances and other services rendered by the Bank.

"Bank’s website under its separate icons ‘Customer Care’, ‘Investor Care’ etc. has elaborately given its various policies, services, and procedure to redress the grievances of the Public for the information of the Public. The address of branches, the particulars of ATMs and the care required to be taken generally from being defrauded while transacting electronically are also given in the website. Besides the website also provides information on various loans and deposit schemes of the Bank, interest rate, service charge/ fee relating to various facilities offered by the Bank, Information on Tenders and other services like Mobile banking, Internet Banking, Star-e-Remit etc., and various facilities offered to NRIs and also about the information of it’s debit card and credit card”.

4.b.xv The particulars of facilities available to citizens for obtaining information including the working hours of a library or reading room, if maintained for public use.

The Public can approach the Central Public Information Officers of the Bank whose names and addresses are given on Bank's website for information permitted by Law on Bank's products, services and other particulars.

In the Bank’s website the citizens can find the location of its various branches, zonal offices, foreign branches and ATM centers. The addresses of the various offices of the Bank along with phone numbers and e-mail ids etc. are provided under the icon of “Bank’s Network

4.b.xvi The names, designations and other particulars of the public Information officers
The names and addresses of the Central Public Information Officers and the Appellate Authority designated by the Bank in terms of the Right to Information Act, 2005 is already published on Bank's website www.bankofindia.com