Bank of India (BoI) is planning to advance loans against gold ornaments, the details of which are expected to be announced shortly. The bank is also planning locker facilities at select branches across the country aimed at visiting non-resident Indians.
The bank, with a view to provide an impetus to dematerialisation of scrips, is also providing loans against shares on a concessaional basis to those investors who have opted for dematerialisation, M G Bhide, chairman and managing director of BoI, said yesterday.
Bhide, who was addressing a press conference to announce the institution of five awards for excellence to honour eminent persons with outstanding contribution in five areas -- finance, management, media, music and arts, and literature. It has created a corpus of Rs 1 crore for this purpose and has already provided Rs 50 lakh this year. The selected candidates will be presented a trophy, a cash prize of Rs 1 lakh and a shawl at a function to be held on every foundation day, which is September 7.
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BoI, which is organising this year's bank economists conference, is inviting economists from foreign banks to participate in the conference. The bank has instituted a Bank of India chair in the faculty of commerce and management at Shivaji University at Kolhapur and the Institute of Development Studies in Jaipur.
Bhide said that these decisions were part of BoIs commitment to re-dedicate itself to the society and to live upto is motto the bank that cares.