BOI Officer Arrested in dowry Harassment and Suicide Case

 In relation to the suicide of a 26-year-old woman who allegedly took the drastic measure as a result of dowry harassment, police have detained a bank employee. The event happened in Mahadevpuram Colony, which is located near the Shivpur police station. 

On February 27, Kajal, the 26-year-old victim, was discovered hanging at her residence. Police said that she had been subjected to dowry-related harassment from her husband and in-laws. It was just fifteen months ago that she got married. "My parents raised me with love and care, but I did not get that love in my in-laws' house," the author wrote. I am the princess of my father.

On February 9, just eighteen days prior to her passing, Kajal had already filed a formal complaint against her husband and six other members of her in-laws' family. She accused them in the complaint of physical assault, dowry harassment, and eviction. A suicide note was found at the location by police during their investigation. 

According to reports, Kajal stated in the note that although her parents had nurtured her with a lot of love, she did not receive the same affection and attention in her in-laws' home. She reported to the police that on November 16, 2024, she and Nitesh Kumar Singh were married. She claimed that at first everything went well and that her in-laws spent about ₹80 lakh on the wedding. But soon after, requests for an automobile started,and she was regularly beaten and threatened over it.

In her complaint, Kajal named her husband Nitesh Kumar Singh, brother-in-law Vivek Kumar Singh, Abhishek Kumar Singh, sister-in-law Priya Singh, Anchal Singh, and mother-in-law Kankalta Singh as responsible for harassment. She reiterated these allegations in her suicide note, writing that on February 7, she was verbally abused, beaten, and thrown out of the house. Mental harassment had pushed her to take her life.

After the incident, Kajal’s father Neeraj Rai filed a complaint with the police. Based on his complaint, the police registered a case on February 27 against 11 people, including her husband, under charges related to dowry death.

After filing a police complaint, Kajal was allegedly confined on the third floor of her in-laws’ home. She was not allowed to talk to anyone.

According to her uncle Ambuj Rai, the family called her several times starting at noon, but she did not pick up. After that, they visited her in-laws' home. They called the police at 112 since the door was locked from the inside. Kajal was hanging when the door was broken open by the police. Her in-laws had left. Her body was sent for a post-mortem by the police and forensic team. 

Nitesh Kumar Singh, the accused spouse, is employed by Bank of India in Maldahia as an officer/assistant manager. He and his family members were allegedly fleeing the scene. On Friday, he was apprehended from Phulwaria by a police team from the Shivpur police station. The accused was brought before a court following his arrest, and the judge ordered that he be placed under judicial custody.

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RBI imposes Monetary Penalty on Bank of India(BOI)

 

Bank of India has been fined ₹1.85 lakh by the Reserve Bank of India (RBI) for some currency chest violations. Bank of India's Kanpur Currency Chest was fined ₹1,85,300. 

After anomalies in the way currency remittances were handled were discovered, the action was taken. 

In the soiled note remittance procedure, the RBI noticed problems with counterfeit money, a scarcity of notes, and damaged notes. The central bank chose to penalize the bank financially in light of these infractions. 

Due to irregularities with a currency chest, Punjab National Bank (PNB) was fined ₹5.66 lakh by the Reserve Bank of India (RBI) a few days ago.

A lack of notes found at a bank-run currency chest led to the imposition of the penalty.The management of the cash supply in the banking sector is largely dependent on currency chests. They support the RBI in ensuring that money flows freely throughout the nation.

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Business Today’s 30th edition of Best Banks awards- ICICI Bank is a best bank, BoM is Best Mid Sized Banks and BOI MD & CEO is honoured as Business Transformation Leader (PSB)- Check Other Awards here

The 30th edition of Business Today’s Best Banks event concluded today at Mumbai with Union Minister Nitin Gadkari presenting awards to top-performing institutions across India’s financial sector, marking three decades of the flagship platform.

In a conversation with Group Editor Siddharth Zarabi, Gadkari said India has moved from fourth to third place, surpassing Japan to become the world’s third-largest economy, adding during conversation that rapid technological upgradation is underway across areas.

ICICI Bank was named "Bank of the Year" and Best Large Bank at the 2026 Business Today-KPMG Best Banks survey. Other key winners include Bank of Maharashtra (Mid-Sized), Karur Vysya Bank (Small), HSBC India (Foreign), and Jana Small Finance Bank. 

Read More -Ranking of All Banks in Business Today Banking & Economy Summit 2026

Business Today Best Banks Awards (2026 - 30th Edition) 

Bank of the Year & Best Large Bank: ICICI Bank

Best Mid-Sized Bank: Bank of Maharashtra

Best Small Bank: Karur Vysya Bank

Best Foreign Bank: HSBC India

Best Small Finance Bank: Jana Small Finance Bank

Best Large NBFC: Bajaj Finance

Best Housing Finance Company: Bajaj Housing Finance

Best Social Impact Bank: Indian Bank

Business Transformation Leader (PSB): Rajneesh Karnatak (MD & CEO, Bank of India)

Business Transformation Leader (Private/SFB): Sanjay Agarwal (MD & CEO, AU Small Finance Bank)

Innovation and Human Capital Excellence(NBFC): L&T Finance

Human Capital Excellence in Bank : HDFC Bank

Emerging Technology and AI: DBS Bank

Best Value-Added Services (Fintech): Perfios 

Lifetime Achievement Award: Shaktikanta Das, former Governor of the Reserve Bank of India

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Decline of CASA due to structural shift in banking: BOI MD & CEO

According to Rajneesh Karnatak, MD & CEO, Bank of India, the decrease in CASA for all scheduled commercial banks is a structural change that is occurring in terms of deposits as the demand for mobilizing deposits increases. As you can see from the data, the CASA percentage has decreased in recent years. There is a significant increase in financial literacy as the economy grows. Consumers increasingly invest in gold, mutual funds, pension funds, and equities markets; this is undoubtedly a change.As we develop further, this percentage will come down further,” Karnatak said at the panel discussion ‘Banking’s Next Evolution’ on the sidelines of Business Today Banking & Economy Summit.

Banks will need to determine how to finance the expansion of credit. Retail term deposits and CASA will not be around for very long. Bonds will need to be raised by banks. In order to raise money, corporations will also need to turn to the bond market, Karnatak stated. Because to CASA, private banks have been aggressively opening branches in rural and semi-urban areas where PSBs (public sector banks) used to have a monopoly, according to Nidhu Saxena, managing director and CEO of Bank of Maharashtra. According to Saxena, digitization won't prevent the bank from expanding geographically. "I have a solid board-approved plan to open 1,000 branches in five years, and we are aggressively expanding into new geographies," he continued.

Agreed, Dinesh Khara, former chairman of State Bank of India (SBI). “Banking is all a function of trust. Earning that trust requires the presence of brick-and-mortar also,” Khara said. “Creating a distribution network today is a huge challenge. Public sector banks have that distribution network,” he added.

On potential uses of artificial intelligence (AI) in banking, Khara said the new era for banking is going to be focused in terms of customization, which means that the data which is already there, it has to be put to use beyond the transaction process. “We started doing it during the pandemic. We had come out with algorithms. Based on that we started reaching out to those who needed credit. Those were the early days. We tried it out and it became a great success. With the new models, public sector banks will be in a position to profile their customers and hyper-personalization can become a reality,” said Khara.

Khara, however, warned that the banking industry is facing a challenge in terms of cybersecurity. “Perhaps AI can be used for is cutting costs both in terms of fraudulent activities which become a drain on the bank’s profitability and the right kind of underwriting through better risk management.”

Recalling his tenure as the chairman of India’s biggest lender, SBI, Khara said there were learnings from 2008-2014 wherein there was a challenge in terms of underwriting, there was a challenge in terms of resolving the stressed assets. “But the ecosystem got evolved. The IBC, which was never heard of in the country, came into existence. It actually demonstrated its teeth. That is one of the reasons as to why there were more responsible borrowings as far as corporates are concerned,” he stated.

Zarin Daruwala, Group CEO, PL Capital, said AI can help manage some risks in the banking sector. “Annually, there are about 14 lakh cyberattacks that happen. A lot of it is financial sector. On fraud detection, it is a very big area where we see AI investments happening. Bank of America uses an AI bot which does one billion customer interactions. JP Morgan Chase uses AI for fraud detection, it does 12,000 contracts in seconds. HSBC uses AIML for transaction monitoring. I am sure, Indian banks will also step up on AI investments,” Daruwala said.

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BOI and Union Bank of India Latest Merger News

The government is apparently considering a massive merger between Union Bank of India (UBI) and Bank of India (BoI), one of the biggest advances in India's banking industry. This action is a component of the larger "Merger 2.0" effort, which aims to create public sector banks (PSBs) that are stronger, smaller, and more globally competitive. 

With a network of more than 12,000 branches across the country and assets potentially topping ₹25 lakh crore, the combined company would rank among India's biggest public sector banks if the merger proceeds. According to analysts, this consolidation might benefit around 25–30 crore clients, making it a significant force in India's banking industry.

Why “Merger 2.0” Matters

The government’s push for PSB consolidation is driven by several goals:

1. Global Competitiveness – Creating banks large enough to compete with international lenders.

2. Operational Efficiency – Streamlining processes and reducing non-performing assets (NPAs).

3. Credit Capacity – Strengthening the ability to fund large infrastructure projects and support MSMEs.

4. Financial Stability – Reducing fragmentation among PSBs and building stronger balance sheets.

Other Banks on the Watchlist

Union Bank and BoI are not the only institutions under consideration. Other PSBs frequently mentioned for potential future mergers include:

• Indian Overseas Bank (IOB)

• Central Bank of India

• UCO Bank

• Bank of Maharashtra

• Punjab & Sind Bank

The goal is to reduce the total number of PSBs from 12 to 4–5 large, efficient banks, capable of competing at a global level.

While official approvals are still pending, account holders should be aware of potential changes:

IFSC codes, chequebooks, and banking apps may be updated.

Enhanced digital banking services are likely after consolidation.

Broader branch networks and improved credit access for individuals and businesses.

The government emphasizes that these mergers aim to benefit customers with better service, stronger security, and more financial options.

Sources indicate that internal due diligence is underway, with a tentative target to complete operational integration by December 2026 or early FY 2026-27. However, formal notifications are still awaited from the Finance Ministry.

If implemented, the Union Bank–BoI merger would be one of the most impactful banking consolidations in India in decades, marking a bold step in the government’s strategy to modernize and strengthen public sector banks.

Stay tuned for official updates, which are expected around the Union Budget 2026 announcements on February 1, 2026.

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Bank of India(BOI) Q3 Net profit up 8%

State-run Bank of India on Wednesday (January 21) reported a 7.5% year-on-year increase in net profit for the third quarter, with profit rising to ₹2,705 crore compared with ₹2,516.7 crore in the corresponding quarter last year.

Net interest income for the quarter grew 6.5% year-on-year to ₹6,462.6 crore, up from ₹6,070.3 crore in the same period a year ago. Gross non-performing assets declined to 2.26% from 2.54% in the previous quarter, while net non-performing assets eased to 0.60% from 0.65% sequentially.

Bank of India’s global advances grew 13.63% year-on-year, with domestic advances rising 15.16% YoY. The bank’s total global business crossed the ₹16 lakh crore milestone. Overseas advances increased 5.70% YoY.

On the domestic front, retail advances grew 20.64% YoY, agriculture advances rose 16.69% YoY, MSME advances increased 15.77% YoY, and corporate advances grew 11.32% YoY. The proportion of retail, agriculture, and MSME (RAM) advances in total advances increased to 58.54%.

Deposits for the bank grew 11.64% YoY, with domestic deposits up 12.80% YoY. CASA deposits rose 4.48% YoY, resulting in a CASA ratio of 37.97% as of 31st December 2025.

On the profitability front, operating profit for 9M-FY26 rose 4% YoY to ₹12,023 crore, while Q3FY26 operating profit increased 13% YoY to ₹4,193 crore. Net profit for 9M-FY26 was ₹7,511 crore, up 14% YoY.

Net interest income (NII) for 9M-FY26 stood at ₹18,442 crore. Non-interest income grew 20% YoY for 9M-FY26 to ₹6,665 crore, and 30% YoY for Q3FY26 to ₹2,279 crore. Net interest margin (NIM) for 9M-FY26 was 2.51% globally and 2.76% domestically, while Q3FY26 NIM improved to 2.57% globally and 2.80% domestically. Return on assets (ROA) and return on equity (ROE) for 9M-FY26 were 0.90% and 14.49%, respectively, rising to 0.96% and 15.34% in Q3FY26.

Asset quality improved, with gross NPA ratio at 2.26%, down 143 basis points YoY, and net NPA at 0.60%, improved by 25 bps YoY. The provision coverage ratio (PCR) increased 112 bps YoY to 93.60%.

Slippage ratio for 9M-FY26 improved 36 bps YoY to 0.64%, while Q3FY26 slippage ratio was 0.16%, up 3 bps YoY. Credit cost for 9M-FY26 improved 30 bps YoY to 0.42%, and for Q3FY26 improved 5 bps YoY to 0.34%. On the capital front, Bank of India’s capital adequacy ratio stood at 17.09% as of December 31, 2025.

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Bank of India(BOI) Promotes this General Manager as Chief General Manager

Bank of India (BoI) has announced a key leadership change with the elevation of Shri Shankar Sen to the position of Chief General Manager, effective January 1, 2026.

Shri Sen was previously serving as General Manager at the Field General Manager Office, Pune. With this promotion, he joins the bank’s top management team and will play a strategic role in strengthening operational and financial leadership across the institution.

Shri Shankar Sen is a highly experienced banking professional with over three decades of service across major public sector banks. He earlier served as Chief Financial Officer (CFO) of Bank of India from May 2020 to June 2023, where he played a crucial role in strengthening the bank’s financial position and governance framework.

He is a Chartered Accountant (FCA), holds an MBA from Swami Vivekananda Subharti University, and is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB). His professional expertise spans credit management, risk, corporate and project finance, retail banking, international banking operations, finance, and accounting.

Over the years, Shri Sen has handled several key leadership assignments across corporate banking, project finance, international divisions, and large commercial branches, establishing a strong track record in strategic banking operations.

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Bank of India(BOI) Apprentice Recruitment 2025 Notification

Bank of India(BOI) Apprentice Recruitment 2025: Bank of India has released the official notification for Apprentice Recruitment 2025, inviting applications for 400 posts across various locations. Eligible candidates can apply online after checking the prescribed educational qualifications, age limit, and selection process mentioned in the notification. Interested applicants are advised to complete the application process within the given timeline through the official channel.

Bank of India Apprentice Recruitment 2025 Important Dates

• Notification Released: 23 December 2025
• Application Start Date: 25 December 2025
• Last Date to Apply: 10 January 2026 (11:59 PM)
• Last Date for Fee Payment: 10 January 2026
• Exam Date: To be released

Bank of India Apprentice Recruitment 2025 Age Limit Details

• Age Limit: 20 to 28 years
• Age Calculation Date: 01 December 2025
• Date of Birth Range: 02 December 1997 to 01 December 2005
• Age Relaxation: Applicable as per rules

Bank of India Apprentice Recruitment 2025 Notification PDF & Apply Online Form Link

• Download Notification PDF
• Click Here to Apply Online

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