Bank of India Announces 4 Major Launches, Strengthening Its Innovation Edge

Bank of India, one of India’s leading public sector banks reinforced its commitment to digital innovation and customer-centric solutions with the launch of four breakthrough products and initiatives aimed at enhancing security, convenience, and inclusivity in banking. The launches were unveiled during the Global Fintech Fest (GFF) 2025, where the Bank made a strong impression with its engaging and interactive booth.

The Bank’s booth was inaugurated by Dr. Arjun Deore, IFS, Regional Passport Officer & Head, MEA Branch, Mumbai, in the presence of Shri Rajneesh Karnatak, MD & CEO, and senior leadership of the Bank. Dr. Deore commended the Bank’s leadership in driving digital innovation and introducing cutting-edge solutions relevant to today’s evolving financial landscape.

Among the key launches was a Proof-of-Concept (PoC) solution designed to prevent fraudsters from registering on mobile banking applications through social engineering or fraudulent calls. The PoC was inaugurated by Shri Atul Kumar Goel, CE, IBA, who described the initiative as a potential game changer for the banking sector, addressing one of its most critical cybersecurity challenges.

The Bank also introduced NPCI’s biometric-based UPI transactions for small-value payments via mobile phones. This solution simplifies the user journey by mitigating UPI PIN fatigue and reducing transaction time by up to 20%, thereby improving the overall payment experience.

Further, the Bank unveiled two new premium credit card offerings in partnership with RuPay—

• Celestia, a premium credit card designed for high-value customers, offering benefits worth up to ₹1.5 lakh.
• Lakshmi Credit Card, a special card curated exclusively for women customers, offering a differentiated and empowering experience.

In line with its focus on financial inclusion, Bank of India also signed an MoU with PayNearby Technologies to avail business correspondent services under the Digital Naari Initiative. The MoU was exchanged in the presence of Shri Atul Kumar Goel, Shri Rajneesh Karnatak, Shri Subrat Kumar, Shri Rajeev Mishra, Shri Ashok Pathak, and Mr. Anand Bajaj. This partnership aims to empower hardworking women across rural and urban India, supporting the Government of India’s vision of inclusive and accessible banking.