Bank of India has formally released its Annual Secretarial Compliance Report for the 2025-26 financial year. The report, prepared by independent auditors, highlights the bank’s commitment to transparency and adherence to governance standards. While the bank maintains strong compliance across most operational areas, the report transparently addresses specific challenges related to board composition and committee requirements, which are currently being coordinated with the government for timely resolution.
Audit Overview and Compliance Commitment
Bank of India has successfully completed its secretarial audit for the year ended March 31, 2026. Conducted by M/s. Sawant & Associates, the audit provides an independent assessment of the bank’s adherence to corporate governance frameworks. The findings confirm that the bank remains dedicated to maintaining high standards of transparency, with all required internal policies and employee codes of conduct fully implemented and actively monitored.
Key Operational Highlights
During the review period, the bank successfully ensured that all relevant disclosures were made available through its digital investor portal. Additionally, the bank has maintained a Structured Digital Database to track price-sensitive information, ensuring robust internal controls. Furthermore, no fines or penalties were levied against the bank by regulators during the 2025-26 financial year, reflecting a stable operational environment.
Addressing Board Composition and Governance
The audit highlighted specific areas regarding the composition of the Board of Directors and the Audit Committee. Due to vacancies that remain pending appointment by the government, the bank has experienced temporary deviations from specific independence requirements. Bank of India has proactively communicated these challenges to the appropriate authorities, confirming that it is actively coordinating with the government to expedite the necessary board-level appointments to restore full alignment with governance requirements.
Source: BSE
