Bank of India, one of the country’s premier public sector banks, has announced inauguration of nine new Zones and two new National Banking Group (NBG) offices. The Zones and NBGs will commence operations from April 1, 2022.
The new Zones are located in the Barasat (West Bengal), Baripada (Odisha), Siwan and Gaya (Bihar), Gorakhpur and Hardoi (Uttar Pradesh), Delhi-NCR, Dhar (Madhya Pradesh) and Thiruvananthapuram(Kerala).
Bank of India is setting up of the two new National Banking Group (NBG) offices in Chandigarh and Hyderabad, which will be headed by General Managers. It will improve connect with branches and better customer reach besides quick decision making that will result into business growth.
NBG Chandigarh is created by splitting the existing National Banking Group, NBG North-I and North-II. NBG-Chandigarh will control four Zones comprising 233 branches in Chandigarh, Himachal Pradesh, Jammu & Kashmir, Laddakh, Uttarakhand and northern part of Haryana.
NBG-South-2 headquartered at Hyderabad, has been carved out from NBG-South, headquartered at Chennai. NBG South was the largest National Banking Group of the bank, in terms of zones and branches. NBG-South-2 will serve customers of 357 branches and 5 zones, located in 3 states, Andhra Pradesh, Karnataka and Telangana. NBG South is now renamed as NBG South-1 and continue its headquarter at Chennai, with 5 zones and 325 branches under its command spread over Tamilnadu, Kerala and UT Puducherry.
The move is a part of the Bank’s strategy to intense connect with branches and strengthen its relationship with its customers. NBGs will also ensure better control and supervision over banking activities in its jurisdiction and provide improved services to its customer base in the five northern states. It will facilitate greater flexibility in banking operations and prompt decision making, deployment of staff based on their skills, explore local business opportunities across the sectors and deepen the financial inclusion.
With this reorganisation, Bank of India will have 12 National Banking Group offices and 68 Zonal Offices with an estimated global business mix of Rs11 lakh-crore as on March 31, 2022. Bank has vast network of 5105 branches for serving over 117.59 million customers from every section of the society. The bank aims to focus on each branch, closely monitor their operations, improve customer service and ensure that each branch contributes for business growth.