India, March 27 -- The Reserve Bank of India (RBI) has, by an order dated March 23, 2026, imposed a monetary penalty of ?58.50 lakh (Rupees Fifty Eight Lakh Fifty Thousand only) on Bank of India (the bank) for non-compliance with certain provisions of the directions issued by RBI on 'Priority Sector Lending (PSL) - Targets and Classification' and 'Interest Rate on Deposits'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.The Statutory Inspection for Supervisory Evaluation (ISE 2025) of the bank was conducted by RBI with reference to its financial position as on March 31, 2025. Based on supervisory finding...