Bank of India (BoI) is reportedly seeking fresh bids for selling its stake in STCI Finance, as bids in the previous round were below its expectation. The bank is selling strategic investments to strengthen its capital adequacy.
STCI is a non-deposit taking non-banking finance company. Other institutional investors in it include State Bank of India with 10.32 per cent and IDFC Bank with a 9.29 per cent stake.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.