RBI imposed a ₹58.50 lakh penalty on Bank of India for non‑compliance with Priority Sector Lending targets and deposit interest rules.
Penalty arises from charging ad‑hoc fees on priority sector loans up to ₹25,000 and not paying interest on matured TDRs.
RBI’s action follows a supervisory inspection (ISE 2025) covering the bank’s financial position as of March 31, 2025 and a show‑cause process.
The penalty is imposed under sections 47A(1)(c), 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, without prejudice to further action.