BUSINESS – Bank of India paves the way into Burma

The Central Bank of Myanmar has announced that the state-owned Bank of India has been given permission to open a representative office in Burma, joining nearly 40 foreign banks which are waiting for the green light to open branches in the country, a move expected this year. Founded in 1906, BOI was nationalised in 1969. It currently has over 4,500 branches in India and across the world.