The Reserve bank said that the New Zealand subsidiary of the Indian bank will change its name to Bank of India New Zealand prior to commencement of operations.
With the registration of BOI New Zealand has increased the number banks operating in New Zealand to 20.
In India, the Bank of India has 3,101 branches across the country including 141 specialized branches.
Previously, the other Indian financial services firm Bank of Baroda was registered in the New Zealand in 2009.
