Bank of Baroda has received an income tax demand notice worth ₹457.25 crores from the Faceless Assessment Unit of the Income Tax Department for assessment year 2019-20, as disclosed under regulatory compliance requirements on March 30, 2026.

Tax Demand Specifics

The bank received the demand order under section 156 of the Income Tax Act, 1961, pertaining to specific taxation issues. The following table outlines the key details:

Nature of Violations

The tax demand relates to two primary areas of contention identified by the tax authorities:

Bank's Response Strategy

Bank of Baroda has outlined its approach to contest the demand order. The bank plans to file an appeal before the Commissioner of Income Tax (Appeals) at the National Faceless Appeal Centre or submit a writ petition before the High Court within prescribed timelines.

Financial Impact Assessment

The bank has stated there is no impact on its financial operations or other activities due to this order. Based on precedence and orders from appellate authorities, the bank believes it has adequate factual and legal grounds to substantiate its position and expects the entire demand to subside.

Regulatory Compliance

This disclosure was made pursuant to Para A(20) of Part A of Schedule III of the Listing Obligations and Disclosure Requirements (LODR), demonstrating the bank's commitment to transparency in regulatory matters affecting stakeholders.

Bank of Baroda has announced the receipt of GBP 75,000,000 from its overseas subsidiary Bank of Baroda (UK) Ltd through a capital reduction transaction completed on March 27, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transaction Details

The repatriation of funds represents a significant capital movement from the bank's UK operations back to the parent entity. The transaction details are outlined in the regulatory filing submitted to both BSE and NSE.

Regulatory Compliance

The bank has fulfilled its disclosure obligations under SEBI regulations by informing both the Bombay Stock Exchange and National Stock Exchange of India about this material transaction. The communication was signed by S Balakumar, Company Secretary, and submitted to the exchanges for uploading on their respective websites.

Capital Structure Impact

This capital reduction from the UK subsidiary represents a repatriation of funds that will strengthen Bank of Baroda's domestic capital position. The transaction demonstrates the bank's ability to optimize capital allocation across its international operations and bring funds back to India when strategically beneficial.