Bank Of Baroda has informed the Exchange about Annual Secretarial Compliance Report
BANKBARODA · price
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Bank of Baroda has submitted its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, prepared by M/s. R S Padia & Associates, Company Secretaries. The report flagged two non-compliances with SEBI's LODR Regulations: (1) the bank does not have a regular non-executive chairperson, since its board members are appointed by the Ministry of Finance, Government of India, and several independent director vacancies remain unfilled since 1 March 2024; (2) the Company Secretary is not yet designated as the Compliance Officer at the required hierarchical level, though the bank initiated corrective action on 3 May 2025 by appointing the CS as Secretary to the Executive Director. All other compliance areas—policies, website disclosures, insider trading controls, related party transactions, performance evaluation, and director eligibility—were reported as satisfactory. No actions were taken by SEBI or the stock exchanges against the bank during the review period, and no statutory auditor resignations occurred.
This is a routine annual compliance filing with only minor procedural gaps, both rooted in the bank's status as a public sector bank whose board appointments are controlled by the central government. Since no penalties or enforcement actions are involved, the impact on shareholders and the stock price is expected to be negligible.