Bank Of Baroda has informed the Exchange about Intimation under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (LODR)Regulations 2015.
BANKBARODA · price
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Bank of Baroda has been penalised Rs. 61.40 lakh by the Reserve Bank of India (RBI) for two regulatory lapses. First, the bank failed to ensure that no non-cash incentive was paid to its staff engaged in insurance corporate agency services by insurance companies. Second, the bank did not credit interest in certain inoperative, dormant, or frozen savings deposit accounts at the prescribed intervals. The penalty order was received on 02.05.2025 and was disclosed to stock exchanges under SEBI LODR Regulation 30. The bank has stated that its profit and loss account will be impacted by this amount.
The penalty of Rs. 61.40 lakh is negligible relative to Bank of Baroda's overall scale of operations and will have a minimal financial impact. This is a routine regulatory action for compliance failures and is unlikely to materially affect the stock price or shareholder value.