Bank of India(BOI) Cashier Accused of Rs 45 Lakh Cash Shortage

 

Hitesh Ningwal, a cashier at the Bank of India branch in Bagh, is the subject of a formal complaint regarding an alleged cash deficit of approximately ₹45 lakh. The complaint was submitted on Monday by the bank manager. Later, Ningwal reportedly turned himself in to bank personnel and was brought to the police station.

Heeru Singh Rawat, the manager of Bagh Station, reported that the cashier had taken the bank locker keys with her. After then, the bank obtained a duplicate key from its local office. On Tuesday, the duplicate key was used to access the locker. When officials checked the cash and documents, they discovered a shortfall of about ₹45 lakh.

The cash balance was ₹45 lakh less than what was recorded on Saturday, the bank told the police. Hitesh Ningwal is the subject of a police case for fraud and embezzlement. The inquiry is presently in progress.

On Sunday nite, Ningwal reportedly drove his automobile from Indore to Khalghat. He reportedly went to a relative's home in Nimrani after feeling ill, where he slept and took medication. On Monday, he woke up late.

While returning to Bagh on Monday afternoon, he was standing near his car in Khalghat. An employee of Bank of India’s Khalghat branch reportedly saw him and knew that he was wanted in connection with the case. The employee called the emergency number 112, after which Ningwal was taken to the police station.

Bank officials, including LDM Balram Bairagi, inspected the Bagh branch throughout Monday. After the inspection and verification, the bank manager lodged the FIR at the police station.

Police are now investigating the alleged cash shortage and the circumstances surrounding the missing ₹45 lakh.

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Bank of India(BOI) DGM Sentenced to 10 Years in Jail in Bank Fraud Case by CBI Court

In a bank fraud case, the CBI Court in Chennai found six people guilty and sentenced them to rigorous imprisonment for ten years. These individuals included two private individuals, Smt. O.P. Thamarai Poo and P. Thandapani, and four public employees, N. Venkatachalam, then DGM, Bank of India, M. Sivakumar, Record Clerk, Sholinganallur Taluk office, T. Dasarathan, VAO, Pzhavanthangal, Govt. of Tamil Nadu. 

Additionally, the CBI fined them a total of Rs 2.70 crore. On May 19, 2010, the case was filed in response to a Bank of India complaint.

Bank said that the prime accused E Muthuswamy and others in conspiracy with the officials of Bank of India misappropriated the funds of the bank dishonestly and fraudulently availed various credit facilities by submitting false and fabricated documents and thereby cheated the Bank to the tune of Rs.238.97 Lakh.

On December 28, 2011, the CBI issued a chargesheet against twelve individuals, five of whom were public servants and seven of whom were private citizens. Following the trial, the court found the aforementioned six accused individuals guilty and punished them.

In CC 18/2016, the case against one Public Servant V. Umapathy, Suspended Senior Draftsman, Land and Survey Department, has been divided. During the trial, four private defendants—E. Muthusamy, A. Vincent, K. Srikanth, and Smt. M. Jothi—died, and the allegations against them were dropped. Smt. Lavanya, one of the defendants, was found not guilty.

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Bank of India(BOI) gets AAA rating from Infomerics

Infomerics Ratings has given Bank of India(BOI) a AAA grade. Infomerics has reiterated its IVR AAA/Stable long-term rating on the Bank of India's (BOI) Basel HI Compliant Tier-II Bond Program.With a 73.38% interest as of June 30, 2026, GOI remains BOI's largest shareholder, offering substantial comfort in terms of ownership and prospective support.  

Net profit rose by almost 14% to Rs 10,527 crore from Rs 9,219 crore, while operating profit improved by around 4% year over year to Rs 17,049 crore in FY26 from Rs 16,412 crore in FY25. A decrease in provisions before tax of about 22% to Rs 3,103 crore, which reflected ongoing improvements in asset quality and lower credit costs, bolstered the increase in profitability.

The domestic NIM remained comparatively stronger at around 2.78% as on March 31, 2026. Management indicated that it intends to support margins through higher-yielding RAM and MCLR-linked advances, increased mid-corporate lending and reduction in the cost of deposits. The earnings momentum strengthened further in Q1FY27, with operating profit increasing by around 26% y-o-y to Rs 5,051 crore and net profit increasing by around 36% to Rs 3,068 crore.

ROA improved to 1.01% from 0.82% in Q1FY26, while the cost-to-income ratio improved significantly to 46.33% from 51.31%. Credit cost also moderated to 0.15% from 0.17%. However, NIM remained at 2.52%, reflecting continued margin pressure. Management has guided for global NIM of 2.55%-2.60% and ROA of 1% or above in FY27, with cost-to-income expected to remain around 48%-49% on a sustainable basis.

BOI has a well-diversified loan portfolio, with RAM accounting for around 59% of domestic advances as on March 31, 2026, supporting granular credit growth. Domestic gross advances grew 16% y-o-y in FY26, led by Retail, Agriculture and MSME growth of 21%, 18% and 18%, respectively, and the momentum strengthened in Q1FY27, with domestic advances and RAM growing 19% and 20% y-o-y, respectively. Retail, Agriculture and MSME advances grew by 21%, 19% and 19%, respectively, making RAM the key growth driver.

CASA moderated to 37.64% in FY26 from 40.29%, and further to 36.68% in Q1FY27, despite absolute CASA rising to Rs 3,00,765 crore from Rs 2,80,316 crore, reflecting changing customer savings preferences and higher reliance on Rs 3-25 crore and selective bulk deposits to support credit growth. Nevertheless, funding costs improved, with cost of deposits declining to 4.69% from 4.85% and cost of funds to 4.45% from 4.66% in Q1FY27, aided by deposit optimisation.

As on March 31, 2026, the bank had 5,535 domestic branches, 7,685 ATMs & CRAs, 25,053 Business Correspondents and 38,273 customer touch points, compared with 5,328 branches, 8,003 ATMs & CRAs, 23,281 Business Correspondents and 36,612 customer touch points as on March 31, 2025. 

The bank also has a well-established international presence across 15 countries and five continents, including major financial centres. During FY26, overseas deposits increased to around Rs 1.27 lakh crore, while overseas advances increased to around Rs 1.17 lakh crore, supporting the overall growth in the bank’s global business.

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Bank of India(BOI) Officer Brutally Assaulted Inside Branch in Rajasthan; Staff Safety Under Spotlight

At the Bagru Branch in Jaipur, a Bank of India officer was viciously attacked while carrying out his professional duties. On August 4, Deepak Gajraj, a loan officer from the Bank of India's Bagru branch, called a borrower and requested that he deposit money into his loan account. A female consumer had the account. 

A man claimed to be the customer's husband when he answered the phone. Additionally, he declined to put the funds into the loan account. As the situation worsened, he and a few others entered the bank and mistreated and intimidated the loan officer. The loan borrower tore his clothes, beat the bank employee, and physically stopped him from carrying out his official responsibilities.The officer suffered severe injuries.

AIBOC Rajasthan State Unit supported the officer following the event and brought up the issue with the police authorities. In a meeting with the Jaipur Police Commissioner, a delegation made up of AIBOC Rajasthan State Secretary Ramavtar Singh Jakhar, Senior Vice President Rajesh R Jain, Bank of India Officers' Association State General Secretary Mahesh Meena, SBIOA Jaipur Circle Deputy General Secretary Saroj Mishra, and Bank of India Officers' Association State President Rameshwar Ola submitted a memorandum calling for strict legal action.

An FIR bearing No. 0309/2026 has been registered at Police Station Bagru, Jaipur West, under Sections 132, 121(1), 352, 351(2), 3(5) and 333 of the Bharatiya Nyaya Sanhita, 2023.

AIBOC has demanded the immediate arrest of all persons involved, a fair and time-bound investigation and speedy filing of the charge sheet.

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Bank of India(BOI) Faces ₹50,000 Penalty for Issuing Recovery Notice to a Deceased Person

After the bank issued a recovery notice in the name of a guarantor who had passed away two years prior despite being aware of his passing, the Debt Recovery Tribunal (DRT), Patna, ruled that Bank of India's debt recovery procedures were unlawful. The panel dismissed the recovery suit and fined the bank ₹50,000 for its carelessness.

The Debt Recovery Tribunal (DRT) in Patna has heard a case alleging negligence on the part of the Bank of India. The tribunal determined that the bank had initiated loan collection procedures by sending out a notification in the name of a deceased person two years prior. The tribunal ruled that the bank's actions were unlawful, halted the recovery process, and fined the bank ₹50,000.

The case is related to Baba Someshwar Automobiles and the Bank of India. According to reports, Shambhu Prasad Singh and Abhishek Singh took a Cash Credit (CC) loan of ₹60 lakh from the Motijheel branch of Bank of India between 2017 and 2019. In 2022, the bank classified the loan account as a Non-Performing Asset (NPA).

After declaring the account as an NPA, the bank issued a recovery notice in September 2022 in the name of the property guarantor, Satyanarayan Singh. However, Satyanarayan Singh had passed away on October 26, 2020, nearly two years before the notice was issued.

His son, Shambhu Prasad Singh, had already informed the bank in writing about his father’s death. Despite receiving this information, the bank continued the recovery proceedings against the deceased guarantor.

In November 2022, Shambhu Prasad Singh filed a petition before the Debt Recovery Tribunal in Patna. He argued that the bank had wrongly declared the loan account as an NPA and had also made errors in calculating the outstanding loan amount.

After hearing both sides, the tribunal ruled that the bank’s recovery proceedings were illegal. It cancelled the recovery action and directed the bank to pay a fine of ₹50,000 for its negligence.

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Bank of India(BOI) Q1 Results: Net profit surges 36% YoY, NII rises 13%

Bank of India(BOI) reported a strong set of financial results for the first quarter of the financial year, driven by healthy growth in profitability and steady improvement in asset quality. The public sector lender posted a 36% year-on-year (YoY) increase in net profit at ₹3,068 crore, compared with ₹2,252 crore in the corresponding quarter of the previous fiscal. 

The bank's Net Interest Income (NII), which measures income earned from lending activities after interest expenses, rose 13% YoY to ₹6,833 crore, up from ₹6,068 crore a year earlier. The increase reflects healthy growth in the bank's core lending operations and improved interest earnings.

Bank of India also reported continued improvement in its asset quality during the quarter. Gross Non-Performing Assets (GNPA) declined to 1.81% from 1.98% in the previous quarter, while Net Non-Performing Assets (NNPA) improved to 0.51% from 0.56% on a quarter-on-quarter basis. The lower bad loan ratios indicate better recovery efforts and stronger credit quality.

Net Profit up 36.2% to Rs 3,068 crore versus Rs 2,252 crore YoY

Net Interest Income (NII) up 12.6% to Rs 6,833 crore versus Rs 6,068 crore YoY

Gross NPA at 1.81% versus 1.98% QoQ

Net NPA at 0.51% versus 0.56% QoQ

Provisions to Rs 964 crore versus Rs 1,096 crore YoY

Provisions to Rs 964 crore versus Rs 990 crore QoQ

The lender's provisions stood at ₹963.6 crore, lower than ₹989.7 crore reported in the preceding quarter and ₹1,096 crore in the same quarter last year. The decline in provisioning reflects improving asset quality and reduced stress in the loan portfolio.

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Court Sentences Bank of India(BOI) Senior Manager to 7 Years Jail in Major Fraud Case

 

In a bank fraud case, the CBI Court in Bhopal convicted two defendants, Mohan Singh Solanki (a private individual) and Piyush Chaturvedi (then Senior Branch Manager, Bank of India, Misrod Branch, Bhopal), to seven years of rigorous imprisonment (RI) and a fine of Rs. 60,000.

Based on a written complaint submitted by the then-Dy. Zonal Manager, Bank of India, Zonal Office, Bhopal, the Central Bureau of Investigation (CBI) registered the case on January 25, 2016. On November 21, 2013, a term loan and cash credit limit of Rs. 30,00,000 were allegedly illegally and dishonestly approved in the name of M/s Sunny Enterprises by accused Piyush Chaturvedi, the Senior Branch Manager of the Bank of India, Misrod Branch, Bhopal.

On the same day, an RTGS transaction was used to fraudulently debit Rs. 22,00,000 from the account of M/s Sunny Enterprises based on a forged and fabricated RTGS form and voucher. The money was then transferred to the account of accused Mohan Singh Solanki's M/s Gold Fly Aish, and both accused misappropriated it in order to further their criminal conspiracy.

The Bank suffered a large loss as a result. After conducting an investigation, the CBI brought charges against Mohan Singh Solanki and Piyush Chaturvedi. Following the trial, the Hon'ble Court found the accused guilty and punished them appropriately.

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Bank of India (BOI) Global Business Crosses ₹17.55 Lakh Crore in Q1FY27

For the quarter that concluded on June 30, 2026, the public sector lender Bank of India (BoI) announced robust business growth. The bank's global operations grew by 16.58% year over year (YoY) to ₹17.56 lakh crore, according to a regulatory filing made to the stock exchanges. The bank also experienced good growth in worldwide deposits, advances, and domestic business throughout the quarter.

Particulars	June 30, 2025 (₹ Crore)	March 31, 2026 (₹ Crore)	June 30, 2026 (₹ Crore)	YoY Growth
Global Business	15,06,142	16,98,662	17,55,915	16.58%
Global Deposits	8,33,698	9,27,271	9,58,117	14.92%
Global Gross Advances	6,72,444	7,71,391	7,97,798	18.64%
Domestic Deposits	7,10,277	8,00,443	8,25,157	16.17%
Domestic Gross Advances	5,65,297	6,54,292	6,73,386	19.12%
Domestic RAM Gross Advances	3,28,048	3,84,327	3,92,647	19.69%

Bank of India’s global business, which comprises global deposits and total advances, amounted at ₹17,55,915 crore as on June 30, 2026. Compared to ₹15,06,142 crore on June 30, 2025, this is a 16.58% growth. As of March 31, 2026, the bank's worldwide operations were ₹16,98,662 crore.

As of June 30, 2026, the bank's worldwide deposits had increased to ₹9,58,117 crore from ₹8,33,698 crore in the same quarter last year. This is an increase of 14.92% from the previous year. The bank had ₹9,27,271 crore in global deposits as of March 31, 2026.

Bank of India’s global gross advances increased by 18.64% year-on-year to ₹7,97,798 crore, compared to ₹6,72,444 crore a year earlier. At the end of March 2026, the bank’s global gross advances were ₹7,71,391 crore.

The bank’s domestic deposits grew by 16.17% to ₹8,25,157 crore from ₹7,10,277 crore in the same quarter last year. Meanwhile, domestic gross advances increased by 19.12% year-on-year to ₹6,73,386 crore, compared to ₹5,65,297 crore as on June 30, 2025.

Bank of India’s Domestic RAM (Retail, Agriculture and MSME) Gross Advances also registered strong growth during the quarter. The RAM loan portfolio increased by 19.69% year-on-year to ₹3,92,647 crore, up from ₹3,28,048 crore a year earlier. At the end of March 2026, RAM advances stood at ₹3,84,327 crore.

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