Annual Secretarial Compliance Report of the Bank for the Financial Year ended 31st March 2026
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Central Bank of India has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, prepared by M/s. Ragini Chokshi & Co. The report identifies two key non-compliances: (1) Board composition does not meet SEBI LODR requirements - the Bank has only 02 Independent Directors instead of at least 50% of its 09-member Board, and lacks both a woman director and a regular non-executive chairperson; (2) Delay in submission of record date notice for Basel III Compliant Bonds (ISIN: INE483A08023) to stock exchanges. The Bank has applied to BSE for penalty waiver and is following up with the Department of Financial Services, Government of India for appointment of Directors. All other compliance areas including secretarial standards, policies, website disclosures, related party transactions, and insider trading norms were found satisfactory.
The board composition non-compliance is a governance concern, especially as it persists from the previous year. Shareholders should note that the Bank has not appointed a woman director or sufficient independent directors despite regulatory requirements, and a penalty waiver request is pending with BSE.