Bank of India has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report provides a comprehensive overview of the bank's environmental, social, and governance (ESG) performance, detailing its operational footprint and sustainability initiatives.

Financial and Operational Overview

The bank reported a paid-up capital of Rs. 4553.41 crore for the reporting period. Its operations span 28 states and 8 union territories in India, alongside a presence in 10 international locations. The bank serves a diverse customer base, including individuals, government bodies, MSMEs, and large corporates, with banking activities accounting for 100% of its turnover.

Workforce Diversity and Welfare

As of the end of the financial year, the bank employed 51,010 permanent employees. The workforce composition included 35,758 male employees (70.10%) and 15,252 female employees (29.90%). The bank reported that 1,359 employees were differently abled. The cost incurred on employee well-being measures stood at 0.32% of total revenue.

Environmental Initiatives

The bank has undertaken significant steps to reduce its environmental impact. It installed 630 kW of rooftop solar systems across 32 owned administrative and residential premises. All three Head Office buildings at the Bandra Kurla Complex operate on 100% green power and have achieved Gold Category Green Building Certification. The bank has also mobilized green finance exceeding Rs. 14,000 crore and reported a green finance portfolio target of Rs. 50,000 crore by FY2031.

Governance and Stakeholder Engagement

The Board of Directors serves as the apex authority for sustainability matters, supported by a separate ESG committee. The bank has established robust grievance redressal mechanisms for various stakeholders, including customers, employees, and shareholders. During the year, it received 291,644 customer complaints, of which 1,755 were pending resolution at the close of the year.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE084A01016/04d71ad2e8a540f6.pdf

Bank of India has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, to the stock exchanges. The report, prepared by M/s. Sawant & Associates, certifies that the bank has largely complied with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable circulars.

The audit confirmed compliance with key areas such as the maintenance of a Structured Digital Database, preservation of documents, and timely disclosures of material events. However, the report highlighted specific deviations under Regulation 17 and Regulation 18 concerning board composition and the constitution of the Audit Committee.

Compliance Observations

The Practising Company Secretary noted that the appointment of the Compliance Officer is more than one level below the Board of Directors, which deviates from Regulation 6(1). Additionally, the bank faced scrutiny regarding the composition of its Board and Audit Committee. The National Stock Exchange sought clarifications on these matters, noting that one-third of the Board was not Independent and the Audit Committee composition was not strictly in line with SEBI LODR requirements.

Management Response

The bank's management explained that its Board composition is governed by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. The Central Government appoints Whole-time Directors and nominates Non-Executive Directors. Following the appointment of Executive Director Shri Pramod Kumar Dwibedi on November 24, 2025, the Board strength increased to 10, with only three Independent Directors, resulting in non-compliance with the one-third requirement.

Regarding the Audit Committee, the bank stated that constraints arise from RBI guidelines which restrict the Non-Executive Chairman and members of the Management Committee from serving on the committee. Consequently, the bank is currently unable to meet the requirement of having two-thirds independent members on the Audit Committee. The bank has engaged with the Department of Financial Services to fill vacancies and achieve compliance.

Previous Year Rectifications

The report also detailed actions taken to address observations from the previous year. A delay in submitting voting results in XBRL format for a shareholders' meeting resulted in a clarification being sought by exchanges. The bank acknowledged the lapse and confirmed that Standard Operating Procedures (SOPs) have been established to prevent future recurrence.