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Saturday, 04-Feb-2012

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Channel Credit

Facility	a. Drawee Bill Finance for Suppliers b. Drawee Bill Finance or Overdraft facility for Dealers.
Eligibility criteria	Sponsoring Corporate can be a Manufacturing Unit, Wholesale Dealer of goods, Distributor of goods, or a Provider of Services. The Sponsoring Corporate should be rated SBS 1-3 and SBS 4-6 (previous rating of 'AA' and above). a. Facilities to Suppliers and Dealers would be extended based on the referral of the Sponsoring Corporate. b. Exposure to each Dealer to be based on the referral of the Sponsoring Corporate.
Financial criteria	Sponsoring Corporate's referral letter to state that their past dealings with the Supplier/Dealer are satisfactory. No prior period of association to be prescribed.
Margin	Nil
Maximum exposure	Within the existing norms, for the purpose of financing under these liberalized terms, a cap of Rs.25 lacs is prescribed in respect of each Supplier and each Dealer. Above these limits, Bank's normal lending norms/procedures to be made applicable.Finance to Supplier to be outside MPBF of the Sponsoring Corporate and the stocks procured from Suppliers by this facility would be treated as "unpaid" stocks till the liability under the Bills is extinguished.
Tenor of the facility	Maximum 90 days exclusive of Free Period offered, if any
Grace period	Grace period of 03 days to Dealers only in cases where Post Dated Cheques are not obtained
Rate of interest	Suppliers: 1% below PLR, Min 10.25% pa. Zonal Managers shall have the discretion to approve a concession of 0.25% (10% floating). Further concession to be approved at HO level. Dealers: ROI not below the rate for which the Sponsoring Corporate is eligible for W/C Finance against Book Debts.
Penal rate	2% over the contracted rate.
Processing charges	No processing charges for the suppliers.1% of limit fixed for each dealer payable up front at the time of sanction of limit to dealer.

Please contact our nearest Corporate Banking Branch/ SSI Branch for further/complete details

Announcement

Analyst Meet Presentation for 31.12.2011

Reviewed Financial Results for the period ended 31.12.2011

Notice of Board Meeting

Analyst Meet Presentation for 31.12.2011 Reviewed Financial Results for the period ended 31.12.2011 Notice of Book Closure for Bonds

Chairman & Managing Director's Message & Address

Bank of India has decided to abolish prepayment charges on home loans for both fixed and floating rate loans across all tenures for existing as well as new borrowers

Watch recorded webcast of Analyst Meet-30.09.2011

Watch recorded webcast of Press Meet-30.09.2011

Financial Results for the quarter / half year ended 30th September 2011

Analyst Meet Presentation-30.09.2011

Festiva l offer – Rate of interest reduced on Home Loans & Auto Loans.

Watch webcast of 106th foundation day

Bank has decided to increase the Bank’s Base Rate from 10.00% p.a. to 10.75%p.a. and BPLR from 14.25% p.a. to 15.00% p.a. with effect from 28.07.2011.

The Managing Committee of the Indian Banks’ Association has appointed Shri Alok K Misra , Chairman and Managing Director, BANK OF INDIA as Deputy Chairman of the Association

Pension Calculator is available on Knowledge Portal front page

Press release launching of Mobile Based Remittance, Urban Financial Inclusion and two factor Authentication

Notice for Debit and ATM cardholders

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