Indian Overseas Bank has informed the Exchange about Announcement under Regulation 30
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The Reserve Bank of India has imposed a monetary penalty of ₹31.80 lakhs on Indian Overseas Bank under the Banking Regulation Act, 1949. The penalty relates to the bank collecting loan-related charges in certain Priority Sector Lending (PSL) accounts where each sanctioned loan amount was up to ₹25,000. This follows RBI's Statutory Inspection for Supervisory Evaluation (ISE 2024) based on the bank's financial position as of March 31, 2024. The bank has clarified that there is NIL impact on its financial, operational, or other activities. The order was received on September 30, 2025.
The penalty amount is small relative to the bank's overall operations, and the bank has confirmed no material financial or operational impact, suggesting this is a minor regulatory compliance issue unlikely to affect the stock price meaningfully.