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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Awaiting price reaction for this filing.
Bank of Baroda disclosed a penalty of AED 50,000 (approximately ₹11.48 lakh) imposed by the Federal Tax Authority (FTA), Ministry of Finance, UAE. The penalty relates to the bank's Economic Substance Regulation (ESR) notification for 2019, where branch details were inadvertently omitted in the filing. Although the bank submitted a revised filing on the same day before the deadline, the FTA recorded the filings twice and levied a fee of AED 50,000 for missing information. The bank has paid the amount on May 6, 2025, to avoid further escalation, but has raised the matter with the FTA for reconsideration and an amicable resolution.
The financial impact is negligible at around ₹11.48 lakh for a large public-sector bank. The penalty is procedural and the bank is contesting it, so it is unlikely to materially affect operations or the stock price.