Public sector lender Bank of India is aiming to focus primarily on growing its retail banking operations. The bank plans to do so by setting up around 20 retail centers all over the country.

"We are looking at branch hub-and-spokes and retail processing centres closely," Mr N. Seshadri, Executive Director, Bank of India said.

"We plan to take the entire service part of operations to the back office," said Mr Seshadri while mentioning that a pilot drive in this regard is already under process.

"We want to go up a couple of percentage points in terms of the whole portfolio from corporate to retail over a period of time," said Mr Seshadri. The increasing interest rates have not impacted the bank's retail portfolio so far, "mainly because we have rescheduled repayment schedules of our customers", he said.