Bank of India(BOI) Q2 profit jumps 25%

For the September quarter, Bank of India's net profit increased by 25.3% year over year to ₹3,202 crore from ₹2,555 crore during the same period last year. The public sector lender's net interest income (NII) increased significantly, and its overall performance was bolstered by gains in asset quality and operational effectiveness. 

From ₹5,914 crore to ₹7,007 crore a year ago, net interest income increased by 18.5%. Operating profit increased more quickly, rising 33.2% year over year from ₹3,821 crore to ₹5,089 crore.

The bank reported an improvement in asset quality during the quarter, with both gross and net non-performing asset (NPA) ratios declining sequentially.

Gross NPA stood at 1.6% in September 2026, compared with 1.81% in the June quarter. Net NPA declined to 0.42% from 0.51% over the same period.

The provision coverage ratio (PCR), which indicates the extent to which a bank has set aside provisions against its bad loans, rose to 94.45% in September 2026 from 93.39% a year earlier. The slippage ratio stood at 0.15%, while credit cost was 0.12%.

Bank of India’s global business grew 21.13% year on year to ₹18.93 lakh crore as of September 2026, reflecting growth in both deposits and advances.

Global deposits increased 21.59% to ₹10.38 lakh crore, while global advances rose 20.58% to ₹8.55 lakh crore. Retail, agriculture and micro, small and medium enterprise (MSME) lending also recorded double-digit growth.

Retail credit rose 19.27% year on year to ₹1.74 lakh crore, while MSME advances increased 20.27% to ₹1.18 lakh crore. Agriculture credit grew 16.34% to ₹1.21 lakh crore.

Retail, agriculture and MSME lending together form a key part of the bank’s RAM (retail, agriculture and MSME) portfolio. RAM advances grew 18.68% year on year and accounted for 58.63% of total advances.

The bank’s cost-to-income ratio improved by 507 basis points year on year to 47.95%, indicating greater operating efficiency. Return on assets rose 10 basis points to 1.01%, while return on equity increased 142 basis points to 16.36%.

Global net interest margin improved by six basis points year on year to 2.47%.

Bank of India’s capital adequacy ratio (CRAR) increased 109 basis points year on year to 17.78%, with its Common Equity Tier 1 (CET-1) ratio at 15.49%.

Bank of India also reported that priority sector advances grew 12.03% year on year, accounting for 46.24% of adjusted net bank credit (ANBC) as of September 2026. Advances to small and marginal farmers stood at 13.84% of ANBC, above the regulatory norm of 10%, while lending to weaker sections accounted for 17.51%, against the prescribed norm of 12%.

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BOIOO urged management to address this issue of mandatory Rural Posting for Promotion

 A rural posting is now required by Bank of India in order to advance to Scale III. A number of Scale II officers are unable to apply for promotion to Scale III as a result of these new regulations. Officers have asked bank management to investigate this and change the regulations to make them more applicable. The Bank of India officers' associations have also called on management to deal with this problem.

The BOI Officers' Association questioned management about who is at fault if officers have not completed a rural posting, arguing that workers shouldn't be forced to shoulder the burden if the bank failed to post them to rural areas.

large number of Scale II officers are facing exclusion from the upcoming Scale III promotion process solely because they have not completed mandatory rural service.

The officers argue that the shortfall is not their fault, as they are liable to be posted anywhere at the Bank’s discretion (Regulation 47), and many who requested rural postings in writing were denied by zones due to administrative exigencies.

Under Para 11 of the Transfer & Rotation Policy (Branch Circular dated 04.01.2025), the Bank itself had the mandatory duty (“invariably be posted”) to place officers in rural/semi-urban areas, which Zonal administrations failed to execute.

The association has asked management to ensure strict compliance with Para 11 moving forward, give annual written notice of rural exposure status to officers, and grant an early meeting with leadership before the promotion notification is issued.

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This Bank Wins EASERise 8.0 Data Quality Recognition Award for FY 2025–26

The Indian Banks’ Association (IBA) has announced the EASERise 8.0 Award winners for FY 2025–26. State Bank of India (SBI) secured the overall winner position, followed by Punjab National Bank (PNB) and Canara Bank.

Bank of India (BOI) has achieved a notable recognition by securing the Winner position in the Overall EASE Data Quality Recognition Awards. The award acknowledges the quality of data submitted by public sector banks for EASE assessments, including accuracy, correctness, minimal revisions and timely submission.

Additionally, SBI emerged as the winner in the Innovation and Risk and Resilience themes, while Bank of India secured the First Runner-up position in the Innovation category.

This achievement reflects Bank of India’s commitment to data quality, operational excellence and innovation in banking.

1. Overall Winners

Award Position	Bank Name
Winner	State Bank of India (SBI)
First Runner-up	Punjab National Bank (PNB)
Second Runner-up	Canara Bank

2. Theme-wise Winners

S. No.	Theme	Winner	First Runner-up	Second Runner-up
1	Risk and Resilience	State Bank of India (SBI)	Punjab National Bank (PNB)	Indian Bank
2	Innovation	State Bank of India (SBI)	Bank of India (BOI)	Canara Bank
3	Socio-economic Impact (for Viksit Bharat)	Bank of Baroda (BoB)	Union Bank of India	Canara Bank
4	Excellence	Punjab National Bank (PNB)	Indian Bank	State Bank of India (SBI)

3. Top Improvers

Award Position	Bank Name
1st	Indian Overseas Bank (IOB)
2nd	Punjab & Sind Bank
3rd	UCO Bank

4. Overall EASE Data Quality Recognition Awards

These awards recognise public sector banks for the quality of data submitted for EASE assessments, based on data correctness, accuracy, minimal revisions and timely submissions.

Award Position	Bank Name
Winner	Bank of India (BOI)
First Runner-up	Bank of Maharashtra
Second Runner-up	Central Bank of India

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Rs 575.40 crore Loan NPA in Bank of India(BOI), Account classified as Fraud

The ₹575.40 crore non-performing asset (NPA) account of Future Enterprises Ltd. (FEL), which is promoted by Kishore Biyani, has been designated as fraud by the Bank of India. There is an outstanding balance of ₹575.40 crore in the account. The classification is not anticipated to necessitate any additional provisioning or have an additional effect on the bank's earnings and net interest margins because the bank has already made 100% provisioning for the entire amount. In accordance with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, the bank has also reported the issue to the Reserve Bank of India (RBI). Since FY 2022–2023, Future Enterprises Ltd. has been subject to the Corporate Insolvency Resolution Process (CIRP), which is overseen by the National Company Law Tribunal (NCLT).

Unlike Future Retail, which ran the front-end stores, Future Enterprises was designed to hold the group’s physical assets, manufacturing infrastructure, and critical investments. The company owned the back-end supply chain, logistics frameworks, textile manufacturing facilities, and valuable joint-venture stakes in prominent insurance businesses, specifically Future Generali India Life and General Insurance.

The debt in this account was heavily tied to the group’s massive ₹24,713-crore restructuring package announced in August 2020. Future Enterprises was scheduled to absorb 19 other group entities operating across retail, wholesale, and warehousing operations, before transferring the consolidated retail infrastructure over to Reliance Retail. When the transaction ultimately collapsed in April 2022 due to lack of secured lender support, the underlying debt structures became unsustainable, pushing the account into a hard default.

The path to this fraud classification was driven by exhaustive forensic scrutiny:

Following the default, the consortium of lenders led by Central Bank of India appointed forensic auditor J C Kabra & Associates. This audit followed a Ministry of Finance directive mandating detailed transactional reviews for stressed loan exposures exceeding ₹50 crore.

Concurrently, market regulator SEBI initiated separate forensic audits examining the company’s financial records and high-value Related Party Transactions (RPT) exchanged with sister affiliates like Future Retail, Future Consumer, and Future Supply Chain.

Under RBI guidelines, a commercial bank classifies an NPA account as fraud when independent audits confirm systemic anomalies. These include the misappropriation of funds, criminal breach of trust, manipulation of books of accounts, or routing funds through fictitious/unauthorized third-party entities.

Future Enterprises has been operating under the Corporate Insolvency Resolution Process (CIRP) since 2023. While Bank of India has safely insulated its balance sheet by taking a 100% provision on the ₹575.40 crore, any recovery of this capital now depends on the liquidation of FEL’s remaining investments. Most notably, the company’s premium insurance assets are moving through resolution, with the Central Bank of India emerging as the successful bidder to acquire FEL’s remaining stakes in the Future Generali ventures.

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Thieves Break Into Bank of India(BOI) Branch , Escape Without Stealing Money

Thieves committed a daring crime in the safe zone of the district Saraikela-Kharsawan in Jharkhand.

At midnight on Friday, thieves broke into the Bank of India branch at the district headquarters, which is directly behind the offices of the Superintendent of Police (SP) and Deputy Commissioner (DC).

The incident happened on Friday nite at around 12:30 a.m. Using a rod, two robbers gained access to the bank's main grill. CCTV footage shows that one of the robbers had covered his face with a vest and was only wearing his underwear. The second thief had a vest covering his face and was dressed in shorts. The robbers entered the bank and made an unsuccessful effort to crack the lock on the front cupboard.

The two thieves heard the sound of people moving outside the bank and fled from the bank. The two thieves remained inside the bank for about half an hour, then fled the scene without stealing anything. On Saturday morning, when local villagers noticed the lock on the bank’s main grill was broken, they immediately informed the Saraikela police and the bank manager.

People have raised questions over the security of Bank. This bank branch had no security guards. The bank management had left the security of lakhs of rupees to just two CCTV cameras.

Bank should improve the safety of its branches. The cases of Bank robbery are increasing day by day.

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Fire breaks out at Bank Of India(BOI) Office, brought under control

 

A major fire broke out on the sixth floor of the Bank of India building at Pune’s Shagun Chowk on Monday morning, damaging office equipment, electrical wiring and other material. No one was injured in the incident, fire brigade officials said.

The Pune Fire Brigade control room received a call about the fire at around 10.11 am, following which seven fire tenders and three water tankers were rushed to the spot from the Central, Kasba, Erandwane, Naidu and Kondhwa fire stations.

Fire brigade personnel found that the fire had broken out in an approximately 80-by-80-foot hall on the sixth floor of the RCC building located on the busy Laxmi Road. The building had been evacuated immediately after the fire was detected.

The hall had been divided into four offices using plywood partitions. A battery backup room was also located in the premises. According to the Fire Brigade, computers, tables, chairs, air-conditioners, electrical wiring, batteries, printers, photocopying machines and other office material were extensively damaged in the fire.

The firefighters assessed the risk posed by the fire, particularly given the busy location and the presence of adjoining buildings. They used hose lines, breathing apparatus, ropes, and exhaust blowers to contain the fire and prevent it from spreading to other parts and floors of the building or neighbouring structures.

It took the fire brigade nearly an hour to bring the fire under control. According to security personnel present at the building, the fire broke out in an air-conditioner in an office on the sixth floor. A security guard initially tried to extinguish the fire using a fire extinguisher. However, after realising that the fire could not be brought under control, the fire brigade was alerted.

The fire brigade said there was no permanent fire-fighting installation at the premises. However, fire extinguishers, a fire alarm system and a detection system were found at the site. Personnel from the Pune Municipal Corporation’s disaster management and building departments, police and the Maharashtra State Electricity Distribution Company Limited were also present at the site.

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Bank of India Jaipur Robbery: ₹42 Lakh Looted at Gunpoint Outside Branch

A robbery took place outside a Bank of India branch near Akshay Patra Chauraha in Jaipur, where two armed miscreants allegedly looted ₹42 lakh in cash from bank employees before fleeing on a motorcycle.

According to the newspaper report, the incident occurred on Monday morning, September 14, 2026, shortly after the bank reopened following a three-day holiday.

As per the report, two men arrived outside the Bank of India branch on a motorcycle. They allegedly pointed pistols at bank employees Cashier Meenakshi and employee Jyoti, who were carrying cash.

The miscreants reportedly snatched the bag containing the cash and escaped within around two minutes. The report states that the robbers had their faces covered and attempted to prevent anyone from stopping them.

The report states that the bank employees had withdrawn cash from a machine and were preparing to take it inside the branch. Around ₹42 lakh was reportedly taken during the incident.

The machine reportedly had a capacity to hold around ₹50 lakh in cash.

Police are examining CCTV footage from the bank and surrounding areas. According to the report, the suspects were seen near the bank at around 10:40 AM and allegedly carried out the robbery shortly afterward.

The footage reportedly shows the suspects fleeing on a motorcycle after the robbery. Police control room officials were informed at around 11:07 AM.

A significant development mentioned in the report is that one suspect, identified as Shankar, had allegedly been conducting reconnaissance around the bank for nearly three months.

Police are reportedly investigating whether he had previously worked as a daily-wage worker at the bank and was familiar with the movement of cash and the employees involved.

The investigation is underway, and police are examining CCTV footage from the bank and nearby locations to identify and trace the accused.

₹42 lakh was allegedly looted from Bank of India employees outside a Jaipur branch. Two armed suspects reportedly fled on a motorcycle as police investigate CCTV footage and a possible three-month reconnaissance operation.

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Bank of India(BOI) Branch Manager Accused of Demanding ₹2 Lakh for Subsidy, Customer Alleges Threats

A complaint has reportedly been filed against the Branch Manager of Bank of India’s Khujner Branch, Prashant Bikoniya, and his brother, alleging that a customer was asked to pay ₹2 lakh for the release of a subsidy amount.

According to the complaint filed by Keval Singh, a resident of Limboda village, the complainant alleged that ₹2 lakh was demanded from him in connection with the release of his subsidy. He further claimed that he was allegedly threatened that the subsidy would be allowed to lapse if the demanded amount was not paid.

The complaint also alleges that on the night of 25 August, the Branch Manager and some other persons allegedly reached the complainant’s residence and took him along with them. He has further alleged that his mobile phone was taken and checked and that he was taken in a car towards Chatukheda before being released later.

Following the incident, the complainant reportedly fell unwell and was taken to the Government Hospital, Khujner, where his blood pressure was recorded as 185/133 mmHg, according to the documents referred to in the complaint.

The complainant has sought an impartial investigation into the alleged incident, including the allegations of threats and being taken away, and has requested that his eligible subsidy amount be released as per applicable rules.

The allegations made in the complaint have not been independently verified at this stage. The response of Bank of India management and the police investigation will be important in establishing the facts of the matter.

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