The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,35,750 on Bank of India. The penalty is related to the detection of mutilated and shortage of notes in soiled note packets at a currency chest in Bhilai. Bank of India stated that this penalty will not have a material impact on the bank’s financial operations or other activities.
RBI Imposes Penalty
Bank of India has received a monetary penalty from the Reserve Bank of India (RBI) amounting to ₹1,35,750. This was communicated in an announcement dated November 20, 2025.
Reason for the Penalty
The penalty was imposed due to the detection of mutilated and a shortage of notes found in soiled note packets at the currency chest located in Bhilai.
Impact Assessment
Bank of India has assessed that the imposition of this monetary penalty by the RBI will not have a material impact on the financial operation or any other activities of the bank.
Source: BSE