Bank Of India has informed that the Reserve Bank of India vide their letter dated December 19, 2017, has placed the Bank under Prompt Corrective Action Framework, consequent to the onsite inspection under the Risk Based Supervision Model carried out for year ended March 2017, and the report issued thereof. This is in view of high net NPA, insufficient CET1 Capital and negative ROA for two consequent years. This action will contribute to the overall improvement in risk management, asset quality, profitability, efficiency, etc of the Bank. This information is furnished pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The above information is a part of company’s filings submitted to BSE.
