Intimation under regulation 30
Awaiting price reaction for this filing.
Bank of Baroda has been penalized Rs. 61.40 lakhs by the Reserve Bank of India on May 2, 2025. The penalty was imposed for two specific compliance failures: first, the bank allowed non-cash incentives to be paid to its staff engaged in insurance corporate agency services by insurance companies; second, the bank did not credit interest on certain inoperative, dormant, or frozen savings deposit accounts at the prescribed intervals. The bank has confirmed that this penalty will impact its profit and loss account by Rs. 61.40 lakhs. The disclosure was filed with stock exchanges under SEBI's Regulation 30 of the Listing Obligations and Disclosure Requirements Regulations 2015.
The penalty amount is small relative to Bank of Baroda's overall scale of operations, so the direct financial hit is marginal. However, this reflects two routine compliance lapses that investors should note as part of the bank's regulatory track record.