RBI Imposes Rs. 1.85 Lakh Penalty on Bank of India Kanpur Currency Chest
Mumbai, 12 March 2026 – Bank of India has disclosed that the Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 1,85,300 on its Kanpur Currency Chest. The action follows a violation involving shortage, counterfeit, and mutilated notes in soiled note remittance.
The Bank received the communication from RBI on 11th March 2026. According to the disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the penalty is monetary in nature and has no material impact on the Bank’s financial, operational, or other activities.
Usha Ramsinghani, Company Secretary of Bank of India, confirmed the compliance and disclosure of the RBI action in accordance with SEBI guidelines.
About Bank of India:
Bank of India, headquartered in Mumbai, is a major public sector bank in India, providing comprehensive retail and corporate banking services. The Bank adheres to regulatory compliance under the Reserve Bank of India and SEBI guidelines