Bank of India was founded in 1906 in Mumbai. Now Bank of India is one of the largest banks in India, providing banking products and services to individuals, SMEs, farmers and corporations.
Bank of India has Category B banking license number 80009 issued by the Cayman Islands Monetary Authority. This type of license allows Bank of India to conduct banking operations with non-residents and domestic banking business with other Cayman Islands licenced entities.
There is no deposit guarantee scheme in the Cayman Islands: in the case of Bank of India failure its depositors will not get any compensation.
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
There is no deposit guarantee scheme in the Cayman Islands.
In the case of Bank of India failure its depositors will not be paid out any compensation.