Bank of India has announced a significant restructuring of senior management assignments effective January 7, 2026, as disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015. The public sector bank has reassigned four senior executives to new portfolios, reflecting a strategic realignment of leadership responsibilities across key business divisions.

Management Restructuring Details

The bank has implemented a comprehensive reshuffle involving senior executives across critical banking operations. The changes encompass retail banking, corporate credit, treasury operations, recovery functions, and resource mobilization activities.

Key Portfolio Transitions

The restructuring involves strategic cross-functional moves among senior leadership. Shri Ashok Kumar Pathak has transitioned from overseeing retail, rural, and MSME operations to managing corporate credit, treasury, international operations, and Foreign Business Division (FBD). Meanwhile, Shri Nitin G Deshpande has moved in the opposite direction, taking charge of retail, rural, MSME, financial inclusion, and the newly added digital lending portfolio.

Shri Sharda Bhushan Rai has shifted focus from resource mobilization and marketing functions to credit monitoring, recovery operations, Stressed Assets Resolution Department (SARD), and legal affairs. Conversely, Shri Prashant Thapliyal has moved from credit monitoring and recovery to resource mobilization, Corporate Employee Banking Business (CEBB), publicity, marketing, wealth management, third-party products, and government business operations.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, specifically under sub-clause 7 of para A, part A, of schedule 3. The disclosure was signed by Rajesh V Upadhya, Company Secretary, and communicated to both the National Stock Exchange of India Ltd. and BSE Ltd. on January 7, 2026.

Strategic Implications

The management reshuffle reflects the bank's approach to leveraging diverse leadership expertise across different business verticals. The assignments combine traditional banking operations with emerging areas such as digital lending, indicating the institution's focus on modernizing its service offerings while maintaining strength in core banking functions.

The Delhi High Court has directed the Reserve Bank of India (RBI) to file a comprehensive response regarding allegations of data protection rights violations by non-banking financial companies (NBFCs) operating digital lending applications. The directive comes as part of ongoing judicial scrutiny of India's rapidly expanding digital lending ecosystem.

Court Proceedings and Regulatory Framework

A division bench comprising Chief Justice DK Upadhyaya and Justice Tejas Karia heard the petition and examined the current regulatory framework governing digital lending operations. The court's attention was drawn to the RBI's recently issued statutory guidelines, the RBI Digital Lending Directions, 2025, which apply to digital lending activities undertaken by both private and public sector banks.

The bench made specific observations about the nature and scope of these guidelines:

RBI's Compliance and Enforcement Mandate

The court has issued specific directions to the central bank regarding its response and disclosure requirements. "We require the RBI to file a counter affidavit, not only in relation to this writ petition, but also bringing on record the action taken for enforcement of the 2025 guidelines," the bench stated during the proceedings.

The court's directive encompasses two critical areas of disclosure:

• Action taken for enforcement of the Digital Lending Directions, 2025
• Specific measures against entities found violating digital lending guidelines

Timeline and Broader Implications

The Reserve Bank of India has been granted six weeks to file its counter affidavit with the court. This timeline allows the central bank to compile comprehensive information about its enforcement actions and regulatory measures in the digital lending space.

The petition raises significant concerns about data privacy and regulatory oversight in India's digital lending sector. The court's intervention reflects growing judicial attention to the balance between financial innovation and consumer protection in the digital lending ecosystem. The case highlights the importance of robust regulatory frameworks and effective enforcement mechanisms to protect borrowers' data rights while enabling the growth of digital financial services.