Income Tax Department Imposes ₹564.44 Crore Penalty on Bank of India The Income Tax Department has recently imposed a hefty penalty of ₹564.44 crore on Bank of India for alleged discrepancies in the reporting of income. This penalty comes as a result of an investigation into the bank’s financial records, conducted by the tax authorities….
Moody’s Maintains Stable Outlook on Three Indian PSU Banks’ Ratings Moody’s, a globally renowned credit rating agency, has recently affirmed the stable outlook on the ratings of three prominent Indian Public Sector Undertaking (PSU) banks. This decision reflects the agency’s confidence in the resilience and stability of these banks despite the challenging economic environment. The…
Bank of India has announced the appointment of Rajneesh Karnatak as the new Managing Director (MD) and Chairman of the bank. He will be succeeding Atanu Kumar Das, who will be retiring on May 31st, 2023. Karnatak’s appointment is for a period of three years starting from June 1st, 2023. Karnatak was previously serving as…
