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Bank of India was founded on 7 September 1906 by a group of eminent businessmen from Mumbai, Maharashtra, India.The Bank was under private ownership and control till 19 July 1969 when it was nationalised along with 13 other banks.
The bank has also entered into an agreement with BillDesk (India ideas.com), CCAvenue (Avenues India), SBI ePay, Atom Technologies and PayU India for providing payment gateway services to the internet banking customers. It was the first old bank to have introduced mobile banking and providing POS machines to their Customers.
The National Financial Switch was launched by the IDRBT on 27 August 2004, connecting the ATMs of three banks, Corporation Bank, Bank of Baroda and ICICI Bank. [3] [4] [5] The IDRBT then worked towards bringing all major banks in India on board and by December 2009, the network had grown to connect 49,880 ATMs of 37 banks, thereby emerging as the largest network of shared ATMs in the country.
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
Dena Bank was a government-owned bank that in 2019 merged with Bank of Baroda. It was headquartered in Mumbai and had 1,874 branches. The bank was founded in 1938 as ...
In 2005, a merger was considered of IIBI with the Industrial Development Bank of India and Industrial Finance Corporation of India, but IIBI refused. [3] After the merger was refused by IIBI, the Indian government decided in 2006–2007 to close down the bank instead. As of 2011, the bank operated from its sole remaining office in Kolkata.
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