RBI fines Bank of India INR 5.9 mln for breaching priority sector loan norms
This story was originally published at 18:54 IST on 27 March 2026
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--RBI fines Bank of India INR 5.85 mln for breach of norms
NEW DELHI – The Reserve Bank of India has imposed a fine of INR 5.85 million on Bank of India for breach of norms on priority sector lending and interest rate on deposits, the central bank said in a release Friday.
The bank did not pay interest on certain term deposit receipts from the date of maturity till the date of their repayment, the regulator said. The bank had also collected ad-hoc service, inspection, and processing charges on certain priority sector loan accounts, having sanctioned amount up to INR 25,000, the central bank said.
For the December quarter, Bank of India had reported a net profit of INR 27.05 billion on total income of INR 212.06 billion. Shares of the state-owned bank settled INR 144.99 on the National Stock Exchange, down 3% from the previous session. End
Reported by Shweta
Edited by Ashish Shirke
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