The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,00,000 on Bank of India. The penalty relates to a shortage of notes detected in the soiled note remittance of the Chandrapur currency chest. The bank has announced that the monetary penalty will not have a material impact on its financial operations or other activities.
Monetary Penalty Details
Bank of India has received a monetary penalty from the Reserve Bank of India (RBI) amounting to ₹1,00,000. This penalty was officially imposed on November 20, 2025.
Reason for the Penalty
The penalty is associated with a shortage of notes that were discovered during the soiled note remittance process at the Chandrapur currency chest. This issue was reported to the Bank of India, leading to the subsequent imposition of the monetary penalty.
Impact Assessment
According to the official announcement, the Bank of India has stated that this monetary penalty imposed by the RBI is not expected to have a material impact on the financial operations or any other activities of the bank. The notification was issued on November 20, 2025.
Source: BSE