Pursuant to the provisions of Regulation 30 and other applicable provisions of SEBI (LODR) Regulations, 2015, Bank Of India has informed that the Reserve Bank of India (RBI) vide its Speaking Order No. CO.ENFD.DECB.No.S854/02-01-004/2023-2024 dated March 13, 2024, has imposed a monetary penalty of Rs 1,40,76,000 (Rupees One Crore Forty Lakh Seventy Six Thousand only) on Bank of India for non-compliance with certain directions issued by RBI. This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of section 47 A (1) (c) read with sections 46(4)(i) and 51(1) of the Banking Regulations Act, 1949 and section 25(1)(iii) read with section 23(4) of the Credit Information Companies (Regulation) Act, 2005.
The above information is a part of company’s filings submitted to BSE.
