Bank of India Management Discussions

I. GLOBAL SCENARIO

Global sentiments for CY2024 were one of cautious optimism, characterized by normalized fiscal policy, elevated public debt, constrained investments, easing inflation steady growth figures, holding back global stability. With the international system operating under the set-up of a zero sum game, shock waves emanating from one side of the world crippled economic indicators on the other. Imposition of restrictive trade policies accelerated financial inflows into some of the emerging market assets, reshaping international markets.

Global Trade in CY 2024 hit a record $33 trillion, stretching 3.7% from CY2023 with services trade steering half the expansion. Asia contributed to a whopping 8.5% elevation in its merchandise export volume, followed by South and Central America. Dialogues around Carbon Border Adjustment at the COP29 necessitate that international trade be aligned with climate goals by introducing tariffs on imported goodsbasis milestone, their carbon foot print, without burdening developing nations. Uncertainty is brewing over CY2025 amid shifts in trade policy that could disrupt global supply chains, undermine predictability, investment and future economic outlook.

2. DOMESTIC ECONOMIC SCENARIO

During FY2024-25, the Indian economy exhibited a consistent trajectory of growth, crystallizing its position as an emerging global economic powerhouse. This headway was typified by healthy FDI inflows, an expanding export sector, exponential infrastructure spending and prioritizing fiscal prudence with progress.

The year 2024, which saw elections in 60 countries across the globe was considered a defining year for democracy, and India was no exception, returning the incumbent to office for the third term. The administrationhasmadesignificantpolicy changes, paying closer attention to sunrise sectors. Bold policy resets, accelerated job creation, concerted efforts towards sustainable growth, balancing the demand pull and technology push innovation have been the cornerstones of the countrys development narrative. Real GDP, according to the Second Advance Estimates by NSO has been estimated to grow by 6.5% in FY 2024-25, driven by strong macroeconomic fundamentals, including services export growth, swelled forex reserves, robust food grain production and capacity addition in the power sector. According to the IMF, Indias projected GDP per capita for 2025 is $2,880, a $1590 addition since 2015.This increase, representing an 81 percent decadal growth can be ascribed to population boom, expanding economic activity, transforming employment landscape and a strong market potential. As India propels towards becoming a US$30 trillion economy by 2047, a comprehensive strategy under ‘Viksit Bharat has been outlined for 2024-25, prioritizing skill development and employment through initiatives like ‘Employment Linked Incentive, ‘Prime Ministers Internship, ‘Skilling and Upgradation of ITIs, setting up of working womens hostels and creches.

The Budget for FY2026 charts a clear path for addressing fluctuations looming challenges, underscoring People, Economy and

Innovation. Commitment to attain a lower than 4.5% fiscal deficit, striving improvement in gross tax to GDP ratio to 12%, realignment in the Basic Customs Duty (BCD) rate with andan aim to correct the inverted duty structure, establishment of Special Window for Affordable Mid- Income Housing (SWAMIH) Fund 2.0 with a corpus of Rs. 15,000 crore for expeditious completion of stalled housing projects are few of the many interventions which will serve as the launch pad for Viksit Bharat 2047.

. BANKING AND FINANCIAL SECTOR DEVELOPMENTS

In the fiscal year 2025, the Indian Banking system displayed consistent preparedness in its ability to weather financial shocks. Public Sector Banks recorded a cumulative rise in its annual profits to Rs. 1.78 lakh crore, posting a 26 percent growth over the previous year. The banking sector pulled off a gross NPAs hitting a 12-year low significant of 2.6% in September 2024, buoyed by falling slippages, slack in the accumulation of new bad assets and steady credit growth.

Deposit accretion in Q4 FY2025 was however tepid at about 10.25% YoY and 2.3% QoQ slightly below 2.6% QoQ growth recorded during Q3 FY2025. While credit growth outpaces deposit growth, the shrinking gap has implications for the profitability of the banks, with a renewed pressure on the NIM. The slowdown in the overall bank credit, from 15.2 percent YoY growth in Nov 2023 to roughly about 11.8 percent in Nov 2024 indicates that a natural correction is underway.

Credit expansion decelerated in FY2025 to nearly 11 percent YoY as opposed to 20.2 percent a year ago, due to waning market liquidity and higher base effect. While Credit growth in the industry sector was muted, that in agriculture and allied activities sector almost halved. Among leading industries, outstanding credit to ‘petroleum, coal products and nuclear fuels, ‘basic metal and metal products, ‘engineering and ‘construction logged a spurred growth. A series of strategic interventions, corporate actions and boosted investor confidence added a cushion to the banking sector. Further, the system is watching for an expected uptick in credit growth after posting solid results for the year ended March 2025, as liquidity conditions soften and interest rates fall.

The EASE Reforms Agenda was unveiled by the Government of India in January, 2018, having its genesis in the ‘PSB Manthan held in November, 2017. EASE is a common reform agenda for PSBs aimed at institutionalizing clean and smart banking. The reform process commenced from launching the first edition of EASE 1.0 in January 2018. While the first edition EASE-1.0 laid the foundation for reforms in PSBs, the subsequent versions 2.0 to 7.0 made the reforms journey irreversible by strengthening processes and systems and driving outcomes.

The Indian economy and its currency traversed through a tumultuous FY2025 amidst unprecedented volatility and changing geostrategic conditions. The Rupee has endured between Q2 and Q3 of FY2025.significant This additional pressure on the currency was eventually reset by the RBIs intervention through a $36 billion sell off in a phased manner in the foreign exchange market. In the face of heightened global tension, the Rupee was on thin ice, facing further depreciation before it staged a sharp comeback at the close of the fiscal. In an ecosystem where resilience overweighs efficacy by a large margin, the rupees ambit will define the ability of the Indian economy to insulate itself against external headwinds.

The Union Budget 2025 directly addressed some of the key industry requirements and the initiatives proposed are growth and advancement across poisedtodrivesignificant vital segments, thereby creating a strong foundation for marked long term growth, stability and inclusiveness in the sector. Launch of the ‘Grameen Credit Score to assess the credit worthiness of the rural borrowers, proposal to roll out a revamped Central KYC system, setting up of a high level committee to review outdated regulations and streamline the compliance culture are reforms directed at positioning the banking industry for an exponential growth.

Idiosyncratic risks will continue to weigh on the BFSI module where governance lapses can impact the sentiments of the industry, pressing for enhanced vigilance about compliance, risk management and audit functions.

BUSINESS REVIEW :

1. RESOURCE MOBILISATION

There has been an overall growth of Rs.10,412 Crore in CASA during FY 2024-25 with a y-o-y growth of 3.86%. During the period, Saving Deposits have grown by Rs.8,190 Crore registering y-o-y growth of 3.46%. Bank has registered higher growth in Current Deposits which have increased by Rs. 2,222 Crore with y-o-y growth of 6.66%. The Term Deposit portfolio of the Bank has grown by Rs.55,602 Crore with y-o-y growth of 15.45%. The Total Deposit portfolio of the Bank has grown by Rs.70,581 Crore with y-o-y growth of 11.21% A total of 15,916 new HNI Savings Customers were added to our Savings Portfolio whose average balance per accounts is Rs. 5,00,000/- & above and the same has increased by 2.65% y-o-y contributing additional growth of Rs.567 Crore in overall Savings Portfolio of the Bank. Similarly, a total of 2619 new Current Deposits of HNI customers were added to our Current Account Portfolio whose average balance per account is Rs. 2,00,000/- & above and the same has increased by 2.01% y-o-y contributing to additional growth of Rs.820 Crore in overall Current Deposit portfolio of the Bank. With continued focus on CASA & thrust on customer acquisition, CASA Ratio of the Bank stood at 40.28% at the end of FY 2024-25.

2. ADVANCES:

Banks Global Gross Advances grew from 5,85,595 Crore as of 31.03.2024 to 6,66,047 Crore as of 31.03.2025, reflecting a strong year-on-year growth of 13.74%. Gross Domestic Credit saw a steady rise of 14.45%, increasing from 4,92,392 Crore to 5,63,550 Crore over the same period. Catering to the diverse financial needs of corporates and mid-sized enterprises, Bank operates nine Large Corporate Branches alongside other major branches led by Assistant General Managers and Chief Managers. To further strengthen mid-corporate lending, 10 new Emerging Corporate Credit Branches (ECCBs) were established in FY24-25 at strategic locations.

To support the national goal of green energy, Bank has established a dedicated Green Financing Cell. This specialized unit focuses on promoting sustainable investments, facilitating funding for eco-friendly projects; and driving financial solutions that contribute to a greener economy. By prioritizing green finance, Bank is actively supporting businesses and initiatives that align with the countrys clean energy transition.

To support the countrys mission of fostering a digital economy, Bank has enhanced the issuance of Electronic Bank Guarantees, ensuring faster, more secure, and efficient transactions. Additionally, we are actively working on multiple fronts to digitize service availability for our corporate clients, streamlining processes and improving accessibility. These efforts reinforce our commitment to technological innovation, helping businesses navigate the digital transition with ease and reliability.

3. RETAIL:

Retail credit portfolio of the Bank increased from Rs. 1,11,484 Crore as on 31/03/2024 to Rs. 1,33,699 Crore as on 31/03/2025, registering y-o-y growth of 19.93% with an increase of Rs.22,215 Crore. We continued with our special focus on Home Loan and vehicle loan segments during the year. The Home loan segment recorded a growth of 14.75% from Rs. 59,107 Crore to Rs. 67,826 Crore during the year. The Vehicle Loan segment recorded growth of 25.16% from Rs. 16,641 Crore to Rs. 20,828 Crore during the year. Tie-up arrangements with auto manufacturers for vehicle loans during the year helped to increase vehicle loan portfolio. Our Bank has approved Special Concessions for our retail products to the employees of corporate borrowers and the employees of other PSUs/ PSEs/ Reputed Corporates/ Institutions under tie-up arrangement with employers. In Retail loan, the growth is contributed mainly by two major loan segments like Home Loan and Vehicle loan. We are focusing more on takeovers and acquisition of customers through e-platform. In addition, we are focusing on Loan against mortgaged properties for increasing share of secured retail portfolio. We are also focusing on growth of Education Loan segment through attractive product features.

We have end to end integrated our LOS with PM Surya Ghar Portal for PM Surya Ghar scheme and with PM Vidyalakshmi portal for Education loan. Further, we have introduced digital journey for all retail loan products viz. Personal Loan, Vehicle Loan, education Loan, Loan against property and Home Loan during the year.

4. MSME ( MICRO,SMALLL AND MEDIUM ENTERPRISES)

The MSME sector is the backbone of Indian economy and plays an important role in the employment and income generation, adding to the decentralized growth of the economy with low per capita investment. MSME Sector contributes 30% to Indias GDP, 45% to manufacturing output and around 40% of total exports. Focus on programmes such as Make in India, Start Up India, Digital India, Atmanirbhar Bharat and EASE Reforms has also brought major changes in MSME Credit at Banks Level. The performance under MSME segment of the Bank is as under:

GROSS MSME ADVANCES (EXCLUDING PWO & URI)
Particulars	Mar-24	Dec-24	Mar-25	Growth YOY	Growth YOY (%)
GROSS MSME	76,559	89,134	90,639	14,080	18.39%

Highlights of FY 2024-25: l During the financial year 2024-25, 2,47,088 new accounts have been added with sanctioned limit of Rs.36,268 Cr. These new accounts have contributed Rs.24,518 Crore to the MSME book. l MUDRA Loans-During Financial year 24-25, Bank has disbursed Rs.11,005 Crore, against total sanction of Rs.12,496 Crore. l TReDS- Bank has achieved outstanding limit of Rs.6827.41 Crore, exhibiting y-o-y growth of 64.83%. l Bank of India has received prestigious SKOCH Gold Award for MSME growth l SMECC/UC Revamping: The number of SMECC

& UCs (dedicated processing centres for MSME) increased to 136 from 116 and centralized processing of all proposals of above Rs.10 Lakhs is being done smoothly. This has improved turnaround time, alongwith catering to various remote branches. l Agreement with Hinduja Leyland Finance Limited (HLFL) Bank has signed partnership agreement with Hinduja Leyland Finance Limited for developing fleet finance in the commercial vehicle segment. l Agreement with Tata Motors Finance Limited (TMFL) Bank has signed partnership agreement with Tata Motors Finance Limited for strengthening business in the commercial vehicle segment. l Agreement with Tata Power Solar Systems Limited (TPSSL) Bank has signed partnership agreement with Tata Power Solar Systems Limited to provide easy and affordable financing, contributing to accelerating installation of Rooftop Solar & EV Charging Stations. l Memorandum of Understanding has been signed between Bank of India & Small Industries Development Bank of India (SIDBI) as participating lending institution for MSE-GIFT (Green Investment & financing for Transformation) scheme & MSE-SPICE

(Scheme for Promotion & Investment in Circular Economy) scheme. l During Q4 of FY 2024-25, Bank has launched "Project Saksham" to enhance sector specific knowledge and to develop financial solutions for cluster based finance scheme. l "BOI STAR YUVA UDYAMI" scheme has been launched for providing simplified financing solutions and hassle free cash flowbased financing solutions to youth-led MSME entities. l "BOI STAR UDYAMI VANITA" scheme has been launched with a view to have an exclusive product designed with concessional credit for women entrepreneurs. l "BOI STAR MSME THALA" scheme has been launched with focus on emerging champion sectors like Travel and Tourism, Hospitality, Logistics & Infrastructure, alongwith Lease/ Rental Discounting for MSME units.

5. AGRICULTURE FINANCE: - a) Priority Sector Advances:

The bank is serving for the upliftment of the agriculture and priority sector, through its network of rural and semi-urban branches. Under Priority Sector Advances, the Bank has registered an outstanding level of Rs 2,13,227 Crore (45.05 % of March-25 ANBC).

Under Agriculture, the outstanding was Rs 1,00,126 Crore, which is 21.15% of March-25 ANBC, out of which Outstanding for SF & MF is Rs. 58,185 Crore (12.29% of March-25 ANBC). Outstanding under MSME-Micro is Rs. 46,215 Crore (9.76% of March-25 ANBC). Outstanding level in Priority sector - Education loan is Rs 2,434 Crore, Priority Sector -Housing loan is Rs 20,565 Crore and other priority sector advances is Rs 16 Crore. Bank has achieved the regulatory ratios under Priority sector, Agriculture, SF & MF, MSME

Micro and credit to weaker sections of FY 2024-25.

(Amt in Rs. Crore)

Particulars	Actual O/S Level March-24	Actual O/S Level Dec-24	Actual O/S Level March-25	Y-O-Y Growth (Mar 24/ Mar 25)		% of Mar- 25 Qtrs.
ANBC	(Audited) 4,16,035	(Audited) 4,58,281	(Audited) 4,73,348	Amt	%	ANBC	Regulatory Requirement
1) Agriculture	84,445	96,920	1,00,126	15,681	18.57	21.15	18
2) Small &	53,362	53,867	58,185	4,823	9.04	12.29	10
Marginal Farmers
3) Micro	43,128	46,630	46,215	3,087	7.16	9.76	7.5
Enterprises
Priority Sector	1,83,459	2,07,213	2,13,227	29,768	16.23	45.05	40

*Total Agriculture and Priority Sector includes outstanding of RIDF & PSLC

Under Agriculture, Bank branches disbursed Rs 74,962 Crore, whereas under Small and Marginal Farmers total disbursement during FY

2024-25 was Rs.40,959 Crore.

Our Bank has sold Rs 7,000 Crore under PSLC

SF & MF and purchased Rs 7,000 Crore under PSLC Agriculture. Net earnings by trading of PSLC was Rs 111.26 Crore, inclusive of GST during FY 2024-25.

Bank has issued 1.46 Lakh Kisan Credit Cards during the year with disbursement of Rs 9,606 Crore for flexible credit utilization. Banks credit exposure to the Minority Communities is Rs 19,393 Crore as on March 25 (9.09% of Priority Sector Lending). Under weaker sections, Amount O/S as on 31.03.2025 is Rs. 73,573 Crore (15.54 % ANBC March-25).

Banks finance to Priority - Food & Agro Industries as on 31.03.2025 is Rs. 10,321 Crore. b) Gold Loan: Gold loans registered incremental growth of Rs.7,786 Crore during FY 24-25 and reached an outstanding level at Rs. 35,339 Crore as on 31.03.2025. c) Self Help Groups (SHGs): Bank has customer base of 6.84 lakh Self Help Groups (SHGs) as on 31.03.2025 of which 3.52 lakh SHGs are credit linked, including 3.27 lakh women SHGs as on 31.03.2025. d) National Rural Livelihood Mission (NRLM): It is an important poverty eradication programme for rural poor. During the year, Bank has sanctioned amount of Rs 6,455 Crore to 95,783 SHGs. e) Agriculture Processing Centers (Star Krishi Vikas Kendra (SKVK) & Agri Desk )

To harness the potential available in cluster areas for substantial and sustainable quality growth of Agriculture credit in general and investment credit in particular while ensuring adherence to Turnaround Time (TAT), Star Krishi Vikas Kendras (SKVKs) have been established.

Presently, 160 SKVKs are functional in 63 Zones across all 13 FGMOs tagged with 3347 branches including 2816 Rural / Semi Urban Branches for the processing of loans. SKVK disbursed Rs. 15,211 Crore during FY

2024-25.

In addition to this, 134 Agri Desks are operationalized in SME City centers for focused & quality-driven growth in agriculture segment specially to cater to Food and Agro and Agri Infra business.

Agri Desk disbursed Rs 3,723 Crore during FY

2024-25.

6. FINANCIAL INCLUSION:

Bank considers Financial Inclusion as a viable business proposition and has shifted outlook from"CSR"to "economic tranche loan. MoMSME viability". ICT based solutions to support and secure sufficientlylow cost transactions are required by the financial sector. Financial inclusion drive gained momentum with Pradhan Mantri Jan Dhan Yojna (PMJDY) programme. Bank has provided banking services in unbanked rural areas through ICT led Business Correspondents model.

PMJDY and Social Security Schemes:

During FY24-25, 16.42 Lakh PMJDY accounts were opened. Bank has also actively participated in Social security schemes launched by Govt. of India. During the year (2024-25), Bank has covered 36.92 Lakh accounts under PMSBY

(Pradhan Mantri Suraksha Bima Yojana) and 18.35 Lakh accounts under PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) in this period. 5.84 Lakh new APY subscribers (Atal Pension Yojana) have been enrolled by the Bank in FY 2024-25.

Star Hawker Atamnirbhar Loan (SHAL)

Star Hawker Atamnirbhar Loan (SHAL)-PMSVANidhi was launched in June 2020 to provide hassle free Working Capital Demand Loan (WCDL) up to 10,000/-, repayable in 12 EMI to street vendors under Tranche I. Second Tranche under PMSVANidhi was for those street vendors who repaid their 1st PMSVANidhi Loan. Under Tranche II, WCDL upto Rs 20000/- (minimum Rs 15000/-) - repayable in 18 months installments was provided to street vendors. Under Tranche III, WCDL up to Rs 50000/- (Minimum Rs 30000/-) - repayable in 36 months installments has been provided to street vendors. It is discontinued from 31.12.2024, revised schemes is under progress with ministry.

Till 31/03/2025, we have sanctioned 6.84 lakh cases (98.27%) out of 6.96 lakh applications received, with total disbursement in 6.83 lakh cases (99.91% of sanctioned applications).

PM VISHWAKARMA

In September 2023, PM VISHWAKARMA was launched for the artisans and craftspeople, who work with their hands and tools, are usually self-employed and part of the informal or unorganized sector of the economy. These individuals are referred to as ‘Vishwakarmas and are primarily engaged in occupations like Blacksmiths, Goldsmiths, Potters, Carpenters, Sculptors etc. These skills or occupations are passed from generation-to-generation following a guru-shishya model of traditional training and it is aimed to ensure that these are integrated with the domestic and global value chains. It is the goal to offer holistic end-to-end support to the Vishwakarmas (18 traits), i.e. the artisans and craftspeople, to enable them to move up the value chain in their respective trades. The Scheme is being implemented by the Ministry of MSME, DFS & Ministry of Finance. MoMSME is the Nodal Ministry for the Scheme. PM Vishwakarma is initially implemented for five years up to 2027-28. Loan up to Rs. 1, 00,000/- is provided at 5% interest rate (fixed) in 1st Tranche, repayable in 18 months. Loan up to Rs. 2, 00,000/- is provided at 5% interest rate (fixed) in 2nd Tranche, repayable in 30months.Thebeneficiarywill be eligible for 2nd tranche when first tranche loan is the second loan shall not be granted before six months of providethe disbursement of first interest subvention @ 8% to the Bank as upfront.

Till 31/03/2025, we have sanctioned 17627 applications (65%) out of 27265 eligible applications and disbursed 14663 applications (84%).

Star Swarojgar Prashikshan Sansthan (RSETIs): Bank is sponsoring 44 RSETIs across the states of Jharkhand, Odisha, Uttar Pradesh, Madhya Pradesh, Maharashtra and West Bengal to impart training to Rural Youth. During the Financial year 2024-2025, RSETIs have conducted 1588 training programs and imparted training to 46,566 candidates ensuring settlement of 72.57% (33791) and providing credit linkage to 56.06% (18535) candidates to enable them for gainful employment. Out of 44 RSETIs, 43 RSETIs are graded in "AA" category by MoRD and one is a new RSETI, which is exempted from grading upto next two years.

Financial Literacy and credit Counseling Centres (FLCC) FLCC/ FLCs are established as per Reserve Bank of India guidelines at Rural and Urban centers at district locations, where Bank is having Lead Bank responsibility. Banks 49 FLCs are functional in all 49 Lead districts. The FLCs, in addition to imparting training, also undertake remedial counselling on case to case basis for the distressed borrowers, preventive counselling through media, workshops and seminars. Till 31st March 2025, total 19.77 lakh needy distressed people were given counseling.

Centre For Financial Literacy (CFL): Pilot Project In terms of communication dated December 10, 2020 from RBI, we have been advised that RBI had announced expanding the reach of CFL to every block in the Country in phased manner by March 2024. We have been associated as one of the sponsor banks since initial implementation of CFL Pilot Project which stands scaled up w.e.f. 01.12.2021. We were entrusted responsibilities for sponsoring of total 186 CFL, funded from Depositor Education and Awareness (DEA) / Financial Inclusion Fund (FIF) with some portion to be funded by sponsor bank. Accordingly, we have opened / scaled up 186 CFLs in five Odisha, Madhya Pradesh & Uttar Pradesh) in collaboration with RBI IdentifiedFive NGOs from 1st December, 2021. Put together, all 186 CFL have conducted 2,02,071 camps and total 69,10,656 distressed people have been counseled up to 31.03.2025.

Regional Rural Banks:

Post amalgamation, we are sponsoring 3 RRBs, Aryavart Bank (AB),- in Uttar Pradesh, Madhya Pradesh Gramin Bank (MPGB) in Madhya Pradesh and Vidharbha Konkan Gramin Bank (VKGB) in Maharashtra state, covering 82 districts with a network of 2554 branches as on 31.03.2025. All these sponsored RRBs are managed by the Chairmen deputed from Bank of India and the performances are being monitored by General Manager FI & RRB (Div.) from Head Office. All three RRBs have branches and administrative offices on CBS platform with system generated report facility. These RRBs are enabled on RTGS, NEFT and ATM platforms. All our RRB have a combined business mix of Rs.1,11,236 Crore as on 31.03.2025.

a) Main functions envisaged for LDMs:

Monitoring the implementation of the District

Credit Plan

Associate with the setting up of Financial Literacy Centres (FLCs), RSETIs by banks Associate with organizing financial literacy camps by FLCs and rural branches of banks States (Jharkhand, Maharashtra, Holding annual sensitization workshops for banks and Government officials with participation by NGOs/ Panchayati Raj Institutions (PRIs) Arranging for quarterly awareness and feedback public meetings, grievance redressal etc. Convening meeting of DCC/ DLRC/ BLBC in their districts/ blocks Organizing periodical meetings of DDM/ LD/ Government Officials for resolving outstanding issues Flow of credit to priority sector and weaker sections of the society Timely submission of data to SLBC/ Government/ NABARD/ RBI

Review of relief measures (in case of natural calamities wherever applicable)

S. No. Name of State	No. of Lead Districts	Name of Lead Districts
1 Jharkhand	15	West-Singhbhum, Seraikela- Kharsawan, Ranchi, Bokaro, Dhanbad, Ramgarh, Hazaribagh, Gumla, Lohardaga, East-Singhbhum, Koderma, Chatra, Giridih, Simdega and Khunti
2 Maharashtra	12	Gadchiroli, Kolhapur, Bhandara, Sindhudurg, Nagpur, Raigad, Sangli, Wardha,Ratnagiri, Chandrapur, Gondia and Solapur
3 Madhya Pradesh	13	Bhopal, Sehore, Khandwa, Khargone, Rajgarh, Dhar, Agar- Malwa, Burhanpur, Dewas, Barwani, Indore, Ujjain and Shajapur.
4 Uttar Pradesh	07	Barabanki, Unnao, Lucknow, Hardoi, Farrukhabad, Mainpuri and Kannauj
5 Odisha	02	Mayurbhanj and Keonjhar

Lead Bank Scheme:

Our Bank has Lead Bank responsibility in 49 districts of the country across five states (spread over 21 Zones), details of which are as under:

To act as business facilitator for growth of Bank in the district.

Monitoring of progress under 4 KPIs (CASA, PMJJBY, PMSBY and APY) in Aspirational Districts. Under Lead Bank Scheme, the Bank is assigned the role of coordinating the efforts of all lending institutions for a planned growth through branch network and credit deployment in the districts for sustainable growth to meet the social objectives in terms of GOI guidelines. In nutshell, Lead District Manager acts as a catalyst between the Government and Financial Institutions. LDMs are extended arm of banks for coordinating between District Administration, NABARD, RBI, other formal & non-formal agencies directly or indirectly involved in the development of the district.

7. INTERNATIONAL

The Bank has 22 Overseas Branches, 1 Representative Office at Jakarta (Indonesia), 4 Subsidiaries, 1 Associate/ Joint Venture, all spread across 15 countries in 5 Continents of all time zones. The contribution of foreign operations in Banks global business mix has been 14.75% as on 31.03.2025.

Overseas Subsidiaries and Associates: i) PT Bank of India Indonesia Tbk ii) Bank of India (Tanzania) Ltd iii) Bank of India (New Zealand) Ltd iv) Bank of India (Uganda) Ltd v) Indo-Zambia Bank Ltd. (IZB) - Joint Venture

8. CREDIT MONITORING:

Monitoring of the credit portfolio is essential in order to maintain and improve the asset quality of the bank and minimize credit risks. The main objective of Credit Monitoring is to safeguard the quality of loan portfolio and minimize the risk of loan turning into Non-Performing Assets (NPAs). It has to endeavor for roll back of identified stressed accounts/ watch list accounts in standard category. The Department is using various tools and methods for identifying and monitoring stressed accounts with signs of weakness/ potential default/ delinquencies to ensure good asset quality coupled with containment of probable slippages effectively.

Tools for efficient monitoring & control process:

Early Warning Signal:

A fully tech based EWS solution is implemented in our Bank since August 2020. Our EWS is fully automated solution with in built well defined work flow. Alerts are generated based on both internal (CBS and Rating Data) and external Data (MCA, CIC etc). The generated alerts help the Bank for identifying incipient weakness and initiate proactive timely remedial measures. The solution helps the Bank in early identification of Fraud in accounts (if any). This solution also enables the branches for close monitoring of accounts. At present, EWS alerts are being generated in the accounts with exposure above Rs. 1.00 Crore.

Credit RFA/ Fraud examination:

Department is mandatorily examining all the NPA accounts of Rs. 50 Crore and above for fraud angle, in line with DFS

directives. Further, the accounts wherever EWS indicates something suspicious, is immediately examined for Red Flag and thereafter, the process of fraud examination is initiated for decision within the regulatory timeframe.

CRILC Reporting:

Identification of the accounts in SMA category triggers mitigating steps such as follow-up for regularization, restructuring etc. In terms of RBIs revised guidelines, stressed accounts with credit limit of Rs. 5 Crore and above are reported to RBI on CRILC platform on weekly/ monthly basis.

System Asset Classification (SASCL):

A predictive program in identifying the probable slippages showing overdue of more than two months period based on record of recovery as well as for accounts showing technical irregularities such as non-submission of Stock statement over three months insufficient/ no credit in CC accounts etc. This may cause downgrading of accounts if timely corrective action is not taken. These accounts are monitored specifically by various verticals for containment of downgrading of standard assets. A new SASCL format has been devised which is more user friendly and will provide more focused information to the field. Going forward, we have moved to daily generation of SASCL and marking of NPA. At present, NPA identification and marking is taken place on daily basis. The SASCL Data is circulated on monthly basis at the beginning of the month and also Daily SASCL Reports are circulated on daily basis along with maintaining the same in internal ‘Garuda folder for access of everybody. Generally, the accounts are identified from the List of Accounts as per the Daily SASCL Reports, but while NPA marking at the EOD, all the accounts are verified and the accounts, other than the Daily SASCL are also marked, if eligible under the IRAC&P Norms, due to any modification / changes carried out during the day.

SMA Monitoring:

Apart from SASCL, focus is there on SMA monitoring. Branches have been made disciplined to start monitoring SMA 0 accounts so that the remedial actions can be taken at initial steps and the concerned account do not move further to SMA 1 or SASCL. It is observed that nearly 50% of SMA is contributed by Retail Loans and hence our department is following up for registration of ECS / eNACH mandate in the legacy accounts.

Zonal Collection Centre (ZCC):

Zonal collection Centre (ZCC) was formed in August 2023 in all the Zones. The primary objective of the ZCC is to focus on reduction of SMA and DNPA by timely collection of dues and various matters of credit monitoring to be carried out by other officials in CrMD of the Zones. The ZCC will be responsible for SMA account of Rs. 25 lakhs and above, with target of roll back of SMA to regular category.

They are required to educate and counsel the borrowers regarding consequences of account moving to SMA category with emphasis on deteriorating credit scores and lesser power to negotiate loan amount and interest rates. ZCC members are also required to insist on the borrower to pay the entire overdue and the critical amount. Prompt repayment will lead to better credit scores and ability to negotiate for better rate of interest. ZCC members should also insist the borrower to shift their primary operative account to our Bank. They should also insist for takeover of business accounts of retail borrowers; If the borrowers are not able to shift their primary operative account to our Bank, the ZCC members should obtain ECS/ NACH/e-NACH

For accounts with exposure less than Rs. 25.00 lakhs, the main responsibility of follow-up lies with the Branches, however, if necessitated, they are permitted to avail the services of ex-Staff and BCs and suitable instructions were given to the filed functionaries for the same.

Collection Management System (CMS):

We have already implemented Collection Management System, which will help us in managing SMA/DNPA portfolio by providing Digital Platform to Branch officials are the scope of work:

1. SMA Risk Gradation

2. SMA/DNPA account list with all relevant information like overdue amount / address / Contact Details etc.

3. Tracking of SMA movement (Roll Forward / Backward)

4. Updating of Collection actions & Customer response, including Promise to Pay (PTP)

5. Visibility of past communication

6. Pushing of reminder SMS/IVR/email to the borrower

7. Suggestive corrective action

8. Integrated with Call Centre to capture customer response through outbound calling

9. Geo tagging & Suggested next visits based on field officer location 10. MIS for Branch/ZO/NBG/HO for better monitoring

Credit Process Audit (CPA):

Credit Process Audit is to ensure compliance of Pre and Post disbursement terms of sanction terms / covenants, where in the disbursing officer, before parting with the Banks funds, has taken all necessary measures for creation/perfection of security with a view to ensure enforceability of the said securities. Now, CPA is Finacle integrated to monitor in real-time.

PSRS Scrutiny & Certificate:

PSRS is an important tool to evaluate and ensure the quality of sanction/ appraisal which has a bearing on the asset portfolio and in turn a healthy bottom-line of the Bank. We also timely conduct Post Sanction Review System Scrutiny for all Accounts with exposure of Rs. 5 Lakh and above in respect of sanctions accorded at FGMO level and also ensure that this exercise is conducted at FGMO and Zonal level.

Credit Inspection:

A system of review of Accounts through credit inspection has been put in place for review of Accounts with limit of Rs. 5 Lakh.

Stock Audit:

We ensure timely conduct of Stock & Receivables audit in eligible accounts and take active/preventive steps wherever warranted. The stock audit is presently applicable to standard advance accounts having working capital exposure of Rs. 5 crore and above. It is required to be conducted annually. Assets showing inherent signs of weakness, such as out of order position, overdue Bills under Letters of Credit, invocation of guarantees, review overdue etc., which pose a threat to the banks asset quality, are followed up at various platforms & levels through Tele / Video conferencing. A new menu for stock audit (STKADT) has been developed in Finacle for stock audit MIS, which will enable us to get timely information about the status of Stock Audit in any applicable account.

Daily marking of NPA:

The Banks has migrated to daily marking of NPA w.e.f. 15.04.2021 to have more transparency in identification of NPA & for compliance of regulatory guidelines.Following

Monitoring of Restructured Accounts (RFCRS portfolio):

To guard the asset quality of accounts restructured under RFCRS, a dedicated team is formed at Head Office, NBG and Zonal Officelevel, which ensures close RFCRS accounts. Apart from the same, SMS are being sent from HO level to all RFCRS borrowers including the DNPA borrowers.

Reminder calls from Call Centre:

A dedicated team of 100 people deployed at our call Centre is working for Monitoring of advances. They are engaged in outbound calling for SASCL & SMA borrowers.

Agencies for Specialised Monitoring (ASM):

As per IBA guide lines ASM (Agencies for Specialised Monitoring) is appointed in accounts having total Banking exposure of above Rs. 250 Crores and accounts with exposure of a specialised nature except in some exempted category accounts like Navaratna Accounts and PSU / Government Guaranteed accounts. We are also engaging services of ASM in stressed accounts wherever required.

IRAC&P Automation:

RBI vide their Circular No: RBI/2020-21/37 Ref No: DoS. CO.PPG./SEC.03/11.01.005/2020-21 dated 14.09.2020 advised all the Banks to put in place and upgrade their Systems by 30.06.2021 to fully automate the processes for identification, Income recognition, Asset classification of advances / investments as NPA / NPA, provisioning and generation of related returns. Accordingly, we have initiated steps to implementation of Automation of IRAC&P Norms in our Bank.

Introduction of in-house MIS System - Qlik:

With the support of HO IT & MIS, we have introduced in-house reporting system (BOI-Pulse) to avail the daily position of SMA & DNPA data on daily basis to the field functionaries. In addition to this information pertaining to our Department, seventeen reports were made available in the module viz., Latest SMA, Repetitive SMA, Valuation Expiry, Stock Statement Expiry, Review Expiry, Future Demands in TL/DL etc., to enable the FGMS / Zone / Branches to take benefit of readymade information for their effective monitoring of advances. Collection in SMA account through Pay-link: To strengthen our Recovery in SMA accounts, Bank share customized Pay-link in Reminder SMS to the SMA borrower to make instant payment through multiple payment channel. This facility enable our SMA borrower to make Payment in their loan account by debiting accounts maintain with other bank

End to end collection Services:

With adherence to the Industry best practices and EASE 8.0 suggestive reform agenda, we are considering to outsource collection activity by onboarding collection partner. In this regard, we have already running POC work with two leading service providers.

End to End collection services comprising segment specific collection strategies with best suitable collection action by deploying various available tools like: SMS, Whatsapp, Chat bot, call executives, Feet on street services. The service provide also leveraging the legal services, enabling us to serve soft reminder to SERFASI notices also help us too track legal proceedings.

Other monitoring tools:

Centralized monitoring of Pre-disbursement & post disbursement covenants implemented for strengthening Compliance level.

Policies are in place for Red Flagging of accounts on observance of EWS & examination of Fraud angle within a specified timeline in terms of regulatory guidelines. Prompt reporting is ensured once account is declared fraud, in RBIs CRILC platform. SMS & IVR are being sent to SMA borrowers and CC/OD & TL borrowers for repayment intimation. In addition to this, SMS are being sent in vernacular languages as well.

Separate list of account where review is overdue for more than a month and where stock statement is due for more than a month is being provided to branches on a monthly frequency for aversion of technical slippages.

9. NON-PERFORMING ASSETS

NPA Reduction & Performance Metrics

( Crore)

Parameter	Mar24	Mar25
	Actual	Actual
Gross NPA	29,183	21,749
Net NPA	6,845	5,359
Gross NPA (%)	4.98%	3.27%
Net NPA (%)	1.22%	0.82%

On a Year-on-Year (y-o-y) basis, Gross NPA has improved by 25.48% in absolute terms, with the GNPA ratio improving by 171 bps, from 4.98% to 3.27%. Target GNPA% for FY26: Below 3%.

Net NPA reduced by 21.71% in absolute terms; NNPA ratio improved by 40 bps, from 1.22% to 0.82%. Cash recovery and upgradation, as a percentage of opening GNPA, improved to 24.90% for FY25 from 16.73% in FY24 Total Cash recoveryfromwritten-offaccounts stood at 2,487 Crore in FY25, compared to 1,467 Crore in FY24.

Cash recovery and upgradation including UCI & URI grew by 21%, reaching 9,506 Crore in FY25 versus 7,882 Crore in FY24.

Overall Recovery Rate improved by 647 bps, reaching 20.43% from 13.96% in FY24.

One-Time Settlement (OTS) approvals crossed 2.58 lakh accounts, reflecting a 35% increase over

Strategies for Recovery Enhancement Resolution and Recovery Mechanisms

Resolution of NPA accounts is actively pursued through: l SARFAESI actions l NCLT proceedings l Enforcement of guarantor securities via SARFAESI/DRT l Sale of assets to ARC/NARCL l Mega E-Auctions l Compromise and OTS schemes Operational Initiatives 5,963 Cr recovered in FY25 due to: l Activation of field functionaries l Regular virtual recovery camps for OTS l Periodical recovery campaigns 27 Asset Recovery Branches (ARBs) established across India for early resolution.

Campaigns and Drives Ongoing initiatives include:

Samjhauta Day, Weekly Recovery Camps, Mega E-Auctions Recovery momentum sustained through consistent nationwide efforts

OTS Schemes

Special schemes Star Sanjeevani and BOI

OTS reviewed and relaunched from 01.04.2025 for FY26.

In FY25:

Star Sanjeevani and BOI OTS schemes extended until 31.03.2026 OTS approvals granted in 2,58,523 accounts with outstanding balance of 5,265 Crore Estimated cash realization: 2,312 Crore (repayment ongoing)

Written-off Accounts Recovery

Recovery strategies for PWO accounts mirror core resolution mechanisms, including: SARFAESI/DRT enforcement

NCLT resolution

Compromise settlements ARC/NARCL sales Star Sanjeevani and BOI-OTS schemes

Auction Strategy

Mega E-Auctions conducted bi-monthly. Additional focused auctions: Home Loans, LAP, ARB accounts, Vehicles.

Aim: Resolve 50% of listed properties through sale/OTS/upgradation.

Publicity undertaken at HO level through multiple channels.

CGTMSE Claim Settlement

Claim lodgement drive launched in FY25. 7,305 claims settled, resulting in NPA reduction by 339 Crore

10. TREASURY

FOREX Business: The Treasury manages the foreign exchange business of the bank, providing hedging solutions to the customers through forwards and swaps. Apart from having Centralized Treasury at Mumbai, the Bank has 1(one) satellite dealing room situated at New Delhi, 1(one) BCP site at Kolkata and 1(one) centralized back office GIFT city (Ahmedabad) so as to provide better services to the customers. During the financial year 2024-25, Merchant and Interbank turnover was Rs.1.28 lakh Crore and Rs.95.67 lakh Crore respectively. The aggregate turnover of Banks forex business during the year was Rs.96.96 lakh Crore. Aggregate forex turnover increased 60.89% compared to last FY 2023-2024. By virtue of having set-up a branch in GIFT city Gandhi Nagar, Treasury has started trading in Non-Deliverable Forwards this financial year. The Treasury actively participates in trading in Currency Futures and is one of the leading banks across all the exchanges. During the Financial Year 2024-2025, Banks Turnover in Currency Futures was USD 38.47 Bn.

Treasury Operations & Investments:

Bank continued to play an active role across all segments of the market Money market, Bonds and Derivatives in FY

2024-25. Treasury Branch actively manages liquidity through various sources of funding includingrefinances,Overnight borrowings against SLR and CD borrowings. This helped in keeping cost of funds under check and supporting sustainable Net Interest Income. Bank has maintained a higher level of investments by holding SLR investments in excess of the regulatory requirement of 18.00% of NDTL from time to time to ensure that sufficient liquidity is available by the way of borrowing against excess SLR from Repo/TREPS windows. As on 31.03.2025 the gross SLR investments were Rs. 1,99,328.43 Crore (80.58% of total Investments) and Non-SLR investments stood at Rs. 48,034.85 Crore (19.42% of total investments). The Non- SLR investments also include Recapitalization bonds of Rs.23,369.81 Crore. M-Duration of

SLR AFS portfolio stood at 3.64% as on 31.03.2025 against 2.81% as on 31.03.2024. M-duration of Total AFS portfolio as on 31.03.2025 stands at 3.11%. In concurrence with the Green initiatives taken by Government of India, RBI had issued notification for sale of Sovereign Green Bonds. As on 31.03.2025 the Banks Treasury branch has investment exposure of Rs 998.42 Crore in Sovereign Green Bonds. All the investments are made in accordance with the Board approved investment policy which is reviewed periodically to respond to market developments/regulatory requirements.

11. INFORMATION TECHNOLOGY DEPARTMENT

1) Intelligent Process Automation (IPA)

Intelligent Process Automation (IPA) aims at optimizing Banks operational manual, repetitive tasks within the Banking system and Banking operations using technologies such as Robotic Process Automation(RPA), Machine Learning(ML), APIs, Intelligent Document Processing (IDP) and other hyper automation tools. Through this Bank aims to streamline operations, enhance efficiency, optimize resource allocation, increase accuracy, freeing up human resources to focus more on strategic activity.

2) Resilience Operation Centre (ROC)

RoC is established to enhance IT infrastructure resilience and ensure continuous monitoring of critical systems at the Bank. It leverages AI-driven root cause analysis (RCA) and predictive insights to resolve incidents proactively. RoC focuses on minimizing disruptions, ensuring high availability, and maintaining compliance.

Benefits of ROC

1. Operational Excellence: Improved response and resolution times, reducing downtime and operational disruptions. Enhanced visibility into system performance and health.

2. Regulatory Compliance: On-time reporting of incidents to RBI and adherence to IT resilience guidelines.

3. Customer Trust: Consistent service delivery, improving customer satisfaction and retention.

4. Risk Mitigation: Proactive identification and resolution of risks, reducing potential financial and reputational losses.

5. Strategic Growth: Supporting the banks digital transformation journey by ensuring reliable and resilient operations.

6. EASE Compliance: The establishment of the

ROC will enable the Bank to achieve key under the EASE framework related to operational risk management and resilience, ultimately enhancing the Banks EASE ranking.

3) WhatsApp Banking: Delivering Seamless Customer Service (+91 7997987601) Our WhatsApp Banking solution is designed to provide user-friendly experience customerswithaneffortless, while aligning with our business objectives. By offering a wide range of services, we cater to the evolving needs of our clients and enhance engagement through this digital channel.

Key Services Offered

1. Balance Enquiry

Quick and easy access to account balance information.

2. Mini Statement

Instant access to the latest account transactions.

3. Loans (Retail, Agriculture, MSME)

Simplifiedloan-related inquiries and updates for retail, agricultural, and MSME segments.

4. Open Deposit Accounts

Seamless process for opening fixed, recurring, or other deposit accounts.

5. Insurance & Mutual Funds

Easy access to insurance products and mutual fund services.

6. Government Business Products

Facilitating a wide array of government-related transactions.

7. Other Services

Open Savings Accounts, Credit Card Payments, Branch Locator, Pensioners FAQs, Debit/Credit Card Hotlisting, Track Lead Status & Raise

Complaints

4) Centralised Digital Payment Processing System (CDPPS) This solution offers a centralized, integrated platform that brings together major payment rails under one umbrella, ensuring seamless transactions, enhanced control, and improved efficiency.

Key Features

1. Comprehensive Payment Integration: Supports UPI, IMPS, NACH, RTGS, NEFT, BBPS, and SWIFT, enabling seamless domestic, regional, and high-value international payments.

2. End-to-End Payment Management: Provides a centralized view of all payment processes, covering initiation, execution, messaging, and external system connectivity.

3. Multi-Tenancy Architecture: Designed for deployment across Bank of India, its Sponsored RRBs, Foreign Centres, and Indian subsidiaries, ensuring scalability and adaptability.

4. Future-Ready Infrastructure: Supports emerging technologies including Digital Currency, E-Toll, and ONDC, with CBDC already implemented. With its robust capabilities, this platform reinforces operational efficiency, enhances financial connectivity, and ensures a smarter, more secure payment ecosystem.

12. DATA ANALYTICS :

New initiatives of Data Analytics Department:

1. Project Star ADITYA (Analytics Driven Insights to Yield Actions): Building of Advanced Analytics, Data Governance and visualization capabilities and processes

The bank has undertaken a comprehensive modernization of its existing applications, integrating state-of-the-art technologies to enhance analytics, governance, and reporting capabilities.

Data Ingestion Framework: This framework ensures that most of the data sources are integrated for data extraction and processing. Bank has integrated most of the data sources with Enterprise Datawarehouse with this framework. It also involves establishing data jobs for ingesting data through different ingestion methods.

Data Storage Platform: This platform enables bank to store data of multiple variants (like Structured, semi-structured & Unstructured) of high volume for analysis and dashboarding purposes. Data Governance Solution: This framework ensures that data is accurate, consistent, and secure across the organization. It involves establishing policies and procedures for data management, ensuring compliance with regulations, and maintaining data quality.

l Data Quality Solution: This solution focuses on maintaining the accuracy, completeness, and reliability of data. It involves processes for data cleansing, and validation, ensuring that the data used for analysis and decision-making is of high quality. l Data Lineage Solution: Data lineage tools track the flow of data across systems, providing visibility into its origins, transformations, and destinations. This transparency aids in understanding data dependencies, troubleshooting issues, and ensuring compliance. l Data Catalog Solution: A data catalog is an organized inventory of data assets, making it easier for users to discover and access data. It enhances data governance and collaboration by providing metadata management and data classification capabilities.

Business Intelligence (BI) Platform: A BI platform aggregates and analyzes data to provide actionable insights. It supports decision-making by offering tools for data visualization, reporting, and dashboarding, enabling stakeholders to monitor performance and trends effectively. Bank has developed various business reports and dynamic dashboards with access upto branch level and field functionaries.

Distributed Computing Platform for Advanced Analytics:

This platform enables the processing of large datasets across multiple machines, facilitating complex analytics tasks. It supports scalable and efficient data processing, essential for advanced analytics workloads.

Generative AI (GenAI) Business Use Cases: The bank has developed GenAI use cases like Call Centre customer voice bot and some other use cases are in Proof of Concept (PoC) stage to automate and enhance business processes.

Advanced Analytics Business Use Cases: The bank has developed multiple analytics use cases in the domain of retail assets, credit monitoring, Fraud detection, customer retention, MSME and insurance, in coordination with concerned stakeholders.

Customer Communication Management: The bank has revamped customer communication medium through smart statements to enhance customer communication channels for services upliftment and product betterment. The bank has also launched "StarFinSnap" interactive smart statement for customers.

By integrating these technologies, the bank aims to transform its operations, improve decision-making, and deliver enhanced services to its customers.

2. Universal Application:

BOI Omni Neo App is a one stop platform unifying banking needs with seamless mobile-internet integration for enhanced omnichannel experience across internet banking (IB) and mobile banking (MB)

9 million+ registered users in MB with more than 6.2 lakh NTB (New to Bank) users and business generated worth more than Rs 6300 Cr since inception

440+ use cases are live in production in MB till date

240+ use cases are live in production in IB till date

116 functionalities for Mobile Banking Lite have been delivered in production

Corporate Internet Banking launched presently for proprietors with functionalities like pre-login, login & registration, trouble login, fund transfer and development of services for large corporate in progress.

Pay options:

- Fund transfer options including RTGS/ NEFT/ IMPS/ UPI

- using QR, pull Addition of beneficiary fund option, split payment option, Create group option, Repeat payment option, quick transfer etc

- Set/Modify/Delete standing instructions/NACH mandates, Bill payments.

Save options:

- Saving Account opening/Term Deposit Accounts: All the existing account holders will be able to open SB/TD accounts completely digitally via the app

Investment options:

- Purchase and redeem mutual funds from AMCs like Aditya Birla, SBI, HDFC, Franklin, Kotak, Bandhan. New fund offering option also available.

- Various insurance products like Life, health, vehicle are being offered by our partners. Additionally, we offer government insurance schemes like PMSBY, PMJJBY.

- Government investment schemes like SGB, SCSS, FRSB, APY, NPS, PPF are available on our platform.

- 3 in 1 DEMAT and trading account opening, SSO integration with trading partners like GEPL, ACM, Ajcon. ASBA-IPO option also offered.

Other features:

- Multilingual chatbot solution and conversational banking

- Account Servicing: Service options like DD/PO, FATCA, login and authentication preference, updation of email id, address, cheque services, requesting of variousstatementsandcertificates

- Admin Module is a web-based portal that can be used by bank to change configurations in UA

- Notifications, Feedback & survey, site-map, rewards, grievance redressal, credit score, Inward redirection with payment aggregators like PayU, Billdesk, SabPaisa, SBI ePay, CCavenue etc

- View/apply for gold loan, personal loan, KCC, Mudra loan, retail loans, credit card etc

- App sleep mode, Linking/De-linking of accounts, NTB customer can register on the app to increase acquisition at low cost for both, asset and liability, BOI products.

13. DIGITAL BANKING DEPARTMENT:

The Digital Product base as on 31.03.2025 is as below:

Product	As on 31.03.2025
Total Credit Card	73,016
Merchant Acquiring (POS + BHIM
	18,352
Aadhaar)
UPI based QR	12,56,582
Mobile Banking	90,46,267
Internet Banking	92,92,526
UPI	2,20,54,111

Planned launch of products in FY 2025-26 l Implementation of E-com Transactions on Rupay Gift Card: The Bank has initiated implementation of E-com transaction on its Rupay Gift card.This feature will be live by 31-05-2025. l Credit line linking to UPI: This is expected to provide a simplified user experience for the UPI credit users. One can leverage supplementary UPI features such as fee Auto Pay, one-time mandate etc. Additionally, UPI merchants can now accept UPI credit based transactions. l Biller onboarding on Bharat Connect: Bank is going to go live on BOU services, meaning, Billers can use Bharat Connect platform to collect payments from customers and faster settlements. BOUs can facilitate customer transactions through mobile app, internet banking, & assisted channels such as Bank Branches & Bank Mitras . The system supports various payment modes including Cards, UPI & wallets, ensuring seamless transactions with instant Payment confirmation. l NACH Sponsorship Service: We will facilitate NACH service to various small Banks, NBFCs, Financial Institutions (MF/Insurance), Corporates & Govt. Agencies. l EMI facility through Credit Card on E-com. l Credit Card Payment via Bharat Connect(BBPS). l We will launch co-branded Credit cards. l Fintech partnership "Credilio" for increasing credit card customer base.

New Initiatives – FY 2024-25 l E-Mandate SimplifiedAuthentication Mechanism

Presently bank is processing NACH mandates (both physical and electronic) as sponsor as well as destination to facilitate automated bulk transaction like EMI, SIP, and Utility Payment etc. under NACH

platform of NPCI. l NPCI vide its circular no NPCI/2023-24/NACH/003 dated 21st July 2023 has introduced new workflow to simplify e-Mandate registration process improving customer experience and to drive digitization of mandates. As per the new design, mandates will be authenticated based on the following factors:

1. Aadhaar Number (Last 4 digits)

2. PAN (Last 5 digits)

3. Customer ID l The same will be validated with CBS and OTP will be triggered to the customer upon successful validation for mandate registration

Internet Banking l Bank has launched New Retail Internet Banking Services with many new and enhanced features. In this regard, we propose to intimate customers for new features available for the upcoming New Retail Internet Banking on website.

Implementation of OTP Based Mandate Registration in Direct Debit Arrangement l Bank has proposed OTP based mandate registration which is a secured process, used to authenticate and verify individuals during online registration of Direct Debit Mandates.

Robust Digital Grievance Management (CRM Next) l CRM Next Complaint Management module and Service Management module has been made live across all branches. This complaint module is integrated with the Banks website. Customers can lodge and track the status of their digital transaction complaint through the Banks website. Complaints related to transactions through various digital channels like ATM, POS, UPI, IMPS, AEPS and Payment Gateway can be lodged in ensuring smooth transactions CRM Next portal.

ECOM facility in RRBs through Debit Card l Ecom facility in 3 RRBs through debit card is live. For implementing the same customisation at ATM

Switch, NPCI BEPG and ACS was done for allowing customers to transact in e - commerce website.

Additional Services in Passbook Printing Kiosk (PBK) l Bank has decided to integrate API based services into PBK. Below are the proposed API services for PBK.

	Services to be integrated in PBK
Balance Enquiry	Cheque Book request
Mini statement	Unblock Mobile banking
Account based passbook printing	Complaint Module
Term Deposit(TDR) Opening	Customer Feedback
Stop Cheque payment	Lead generation

Launch of Web journey for NACH e-mandate registration in loan accounts l On the banks 119th Foundation day, a new facility for loan account customers to register NACH e-mandate, for collection of EMIs from their operative accounts maintained in other banks, themselves without branch intervention through Web Journey was launched. l Credit Card Migration to New Platform

The Bank has migrated its Credit Card Management System from its earlier vendor, M/s Worldline to a new vendor, M/s ISG. With onboarding of the new Technology partner, the Bank is working towards revamping its existing Credit card business with focused strategies.

Automatic Termination of ECS l New functionality has been made live, in which the NACH/e-NACH mandate will be auto cancelled upon closure of loan account and branches need not upload these mandates of closed loan accounts in DMS for cancellation. This auto cancellation service is for ECS/ NACH mandate registered with other banks for our loan accounts only.

Bank has enabled its ATM acquiring switch for NFS UDIR. l UDIR stands for Unified Dispute and Issue Resolution. Customers can lodge complaint regarding failed transaction and / or dispute status through their bank. Status of the transaction will be provided to UDIR system through APIs by banks ATM switch for transactions done at the banks ATM terminals.

Portable UPI QR Sound Box Device l In order to provide real-time audio confirmation for successful UPI payments credit made using the BOI

BHIM UPI QR Code, the Bank has introduced Portable UPI QR Sound box for its existing and new merchants. l The Portable UPI QR Sound box will notify the merchant for every successful UPI payment made against the UPI QR code linked to his/her account. All the existing as well as new merchants will be eligible for Portable UPI QR Sound box Device.

Implementation and introduction of Central Bank digital currency l Bank customers can issue and use Digital currency through Banks CBDC APP. l CBDCs can act as instruments that support public policy objectives of the government by functioning as a safe and resilient means of payment. They promote an ecosystem, if properly monitored, and the risks involved are overcome through effective means. l Currently, the APP is LIVE and it is in Closed User Group for testing.

14. DIGITAL LENDING l E-Platform: During FY 2023-24 bank had garnered new business of Rs.15516 crores and the same was increased to Rs. 68,732 Crore in FY2024-25 with adoption level touching a new high of 88% in Q4.

Initiatives taken by the Digital Lending Department are as follows: l Department has done tie up with PSB alliance for fetching Land records, satellite image based cropping patterns & cropping history for Madhya Pradesh state to promote the web journeys under crop loan. l Tie-up with Digivriddhi through Reserve Bank Innovation Hub (RBIH) platform for fetching milk pouring data & income related data for Amul Society Gujarat state on pilot run for promotion of Dairy Financing. l Tie-up with Online PSB Loans (OPL) for complete STP journey for KCC Jan Samarth for state of Karnataka, Uttar Pradesh & Maharashtra. l Integration with OPL for Solar Rooftop panel under PM Surya Ghar Muft Bijli Yojana. l E- Signing & E-documentation has been implemented in state of Madhya Pradesh, Maharashtra, West Bengal, Gujarat, Telangana, Kerala and Karnataka. l Tie-up with OPL for e-NWR financing under PM

Krishi Upaj Nidhi. l Tie-up with M/s Scoreme Solutions Pvt. Ltd.: For SME sector financing our Digibiz (GST based lending) product is launched. We have successfully shifted from existing CAPS

Module to E-platform and now all the loans are being processed through our E-platform. Bank is promoting the Digital products on several social media emphasising more on generating business through web journeys. The Marketing team / Digital Lending Champions have been provided with laptops and tablets for quick turn-around for sanctioning loans like, Housing loan, Personal loans & Agri loans. This automation has reduced the TAT for sanction besides, mitigating several compliance and operational issues at field level. We have additionally started Web support team at Digital Lending Department for resolving the issues and promoting the Digital Journeys. l TReDS Business: TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of MSMEs through multiple financiers.

Bank of India is an active participant on all TReDS platforms and enjoys 7.82% of market share of inclusive and innovative payments overall throughput of TReDS business on these platforms during FY 2024-25. Banks TReDS business outstanding has grown by 64.83% during FY 2024-25 as compared to FY2023-24 and stood at the level of Rs.6827.41 Crs as on 31.03.2025. Further, substantial potential is available to grow our TReDS business as many new corporate buyers are getting enrolled on the platforms. Banks TReDS business is expected to grow at good pace during FY 2025-26 and we have targeted to grow the business at the level of Rs. 8,300 Crore by March 31, 2026. Bank has on-boarded 3 TReDS platforms viz. RXIL, Invoicemart & M1 Exchange for generating business under TReDS.

Pool Buy-out: During FY2024- 25 incremental growth of 67.63% recorded over the previous year FY 2023-24 with outstanding of Rs.5144 Crore as on 31.03.2025. Presently, we have undisbursed sanctioned limit of approximately Rs.1650 cr for pool buy-out facility. Further additional business of approx. Rs.500 Cr is under process. We are expecting to reach pool buyout business at the level of Rs. 6,500 crores by March 31, 2026. l Co-lending: - Presently, we are having tie-up with various NBFCs for co-lending in MSME & Retail products. Incremental growth during FY2024-25 is 120.51% over the previous FY 2023-24 with total outstanding of Rs.558 Crore as on 31.03.2025. During Financial Year 2024-25, we have entered into co-lending arrangement with 4 new NBFC and planning to enter into new tie up arrangement with 6 additional NBFC during current financialyear. We are estimating to reach co lending business at the level of Rs.1000 crores by March 31, 2026. SMEUC-Colending formed at Mumbai South Zone for processing & sanctioning of obligor-wise loan proposals. All Co-lending business are parked in Centralized Pool Buyout & Co-lending Cell (CPBCLC) Mumbai South Zone. l Supply Chain Finance:

During current financial year we are expecting to add supply chain finance business to the level of Rs.2000 crore. For this, we are setting up New Supply Chain Finance (SCF) Cell at Head office with Full Fledged team to scale up the business. SCF Cell has identified 76 branches including ECCBs from all the Zones for mobilizing supply chain business. HO team will be working closely with these branches for development of the business.

15. RISK MANAGEMENT: Risk and Control:

The Bank has an appropriate mechanism in place to ensure ongoing assessment of relevant risks on a Borrower Level as well as on a Portfolio level to maintain the trade-off between risks and returns. The Board of Directors of the Bank has an overall oversight of all risks in the Bank with specific Committees of the Board constituted to facilitate focused approach to specific risks. The Risk Management Committee of the Board (R.Com), is the subcommittee of the Board which is the apex body for Risk Management, supported by operational level committees of Top Executives for managing various risks, such as Asset Liability Management Committee (ALCO), CRMC (Credit Risk Management Committee), MRMC (Market Risk Management Committee) and ORMC

(Operation Risk Management Committee).

Risk Management includes process of risk identification, measurement, monitoring, mitigation and reporting of all potential risks, in all activities and products in the Bank. These processes are well elaborated under respective policies viz. on Enterprise Wide Risk Management, Credit Risk Management, Operational Risk Management, Market Risk Management, Exposure (Bank Exposure & Large

Exposure Framework), Asset Liability Management, Foreign Exchange and Dealing Room operations etc. Banks Risk Management Framework is focused on full integration of risk management into its operations and culture. The integrated risk management framework starts with a risk management cycle, consisting of several steps: setting up the risk appetite, conducting stress testing, scenario analysis, preparing full scope risk assessment of all segments. Risks are adequatelyidentified,assessed, measured, mitigated and reported. Risk Management is one of the core focus areas of the Bank. The Bank is working to ensure that it adopts global best practices in all the risk areas. This commitment is being achieved by investing both in people & systems and building an enduring risk culture. Bank deploys various tools and techniques for achieving Risk Management objectives viz. Prudential and internal limits Monitoring, Basel Compliant Credit Rating Models, Active liquidity management, ERM Scorecards, PQI etc. Credit Rating thresholds are based on the performance of the specific industry/sector. Bank uses different internal Credit Risk Assessment Models and scorecards for assessing borrowers credit worthiness. The Internal Rating Model is recently recalibrated in view of the changing economic environment and evolving business models, to better capture the risk drivers and further strengthen the onboarding & underwriting standards. In the normal course of business Banks experience various risks viz. Credit Risk, Market Risk, Operational Risk, Liquidity Risk and Interest Rate Risk. Credit Risk is the possibility of loss resulting from a borrowers failure to repay a loan or meet contractual obligations. Bank has adopted Standardized Approach (SA) for Credit Risk Computation.

Market risk is possibility of loss to the bank due to movement in market factors viz. Interest Rate, Foreign Exchange Rate, Equity Prices etc. Bank has adopted Standardized Duration Method (SDM) for Market Risk computation. Operational Risk is defined as the risk of loss resulting from inadequate or failed internal process, people and systems or external events. Operational Risk includes legal risk, but excludes strategic and reputation risk. Bank calculates Operational Risk Weighted Assets through Basic Indicator Approach (BIA). Bank is in the readiness to adopt New standardized approach for computing Operational Risk Weighted Assets, as mentioned in the draft RBI Guidelines. The Bank monitors and manages operational risks on an ongoing basis. Comprehensive set of processes, systems of internal controls, and policies are also in place, to reduce the probability and potential impact of losses from Operational

Risks.

Asset & Liability Management: Bank has adopted robust ALM Practices to mitigate financial risks resulting from mismatch of assets and liabilities. Effective Assets and Liabilities Management (ALM) is essential for a banks sustainable and qualitative growth to achieve greater efficiency ALM endeavors to strengthen the Balance Sheet by reviewing the market dynamics, picking up signals emanating therefrom, and maintaining regulatory requirements.

As a part of commitment for sound Risk Management practices, your Bank regularly reviews its Internal Policies on ‘Pricing for Loans & Advances, ‘Global Asset and Liability Management, ‘Stress Test Policy to adapt to oscillations in market conditions. Your Bank further undertakes Stress Tests and Reverse Stress Tests to address any risks that may arise as a worst-case scenario. Liquidity for the Banks domestic banking operations is directly managed at the Head Office. The overseas branches and offshore unit of the Bank independently manage their liquidity requirements with support from the Head Office. Similarly, the Banks subsidiaries independently manage their liquidity requirements with adequate oversight by Risk Management committee of the Bank. Further, the Bank maintains suitable systems and processes to monitor liquidity requirements in other currencies as appropriate.

Your Banks liquidity and interest rate risk management framework is guided by a well-defined Board approved Global Asset Liability Management Policy. As part of this process, your Bank has established various Board-approved limits for liquidity and interest rate risks in the banking book. The Asset Liability Committee (ALCO) is a decision-making unit responsible for implementing the liquidity and interest rate risk management strategy of the Bank in line with its risk management objectives and ensures adherence to the risk tolerance/limits set by the Board. ALCO reviews the policys implementation and monitoring of limits. While the maturity gap, Basel III ratios, and stock ratio limits help manage liquidity risk, Interest rate risk in the banking book is monitored and managed by assessing & acting on the potential impact of interest rates changes on Net Interest Income and economic value of equity. This is reinforced by a comprehensive Board approved stress testing programme covering both liquidity and interest rate risk.

Robust behavioral analysis is certainly the core of effective ALM Management landscape. Behavioral Studies are carried out by your Bank at regular intervals to assess customer behavior to impart proper treatment of non-contractual assets and liabilities and embedded options available to customers, which are used while managing maturity gaps and reprising risk. Behavioral studies are conducted to ensure the proper placement of outflows/inflows in liquidity and interest rate sensitivity statements, which may result from balance sheet exposures like prepayment of Term Loans/Term Deposits, run-off in CASA etc. and Off-Balance Sheet (OBS) exposures like devolvement and invocation in BGs/LCs etc. The assumptions relating to non-contractual assets and liabilities are reviewed periodically, back-tested and revised as per the outcomes of the latest studies. Further, your Bank has the necessary framework and Board Approved policy in place to manage and mitigate intraday liquidity risk.

The stock of High-Quality Liquid Assets (HQLA) and net cash outflows are monitored daily under to ensure the maintenance of LCR as prescribed by the Regulator and Banks internal Policy benchmarks. Your Bank has implemented the NSFR guidelines of RBI, measuring the long-term resilience of your Bank in terms of liquidity. Your Bank identifies the inherent risks associated with changing interest rates on its Balance Sheet (On/Off) exposures from both short-term and long-term perspectives. For this purpose, the impact of change in the interest rates on Earnings at Risk (EaR) and Economic Value of Equity (EVE) is assessedwithpre-definedtolerance limits, enabling the management to initiate appropriate preventive steps in a likely scenario of erosion in NII/ Net Worth. Your Bank constantly strives to ensure adequate monetary policy transmission through its benchmark lending rates. Your Banks Asset Liability Management Committee (ALCO) monitors and manages Liquidity and Interest Rate risks by modulating the asset-liability mix in the Balance Sheet and recalibrating the pricing of liabilities and assets from time to time. The ALCO, inter alia, regularly reviews the interest rate scenarios, the growth pattern of liability products, credit growth, competitive advantages, evolving liquidity conditions, adherence to regulatory prescriptions, etc.

Your Bank is measuring and monitoring Interest Rate Risk in the Banking Book (IRRBB) since June2023. Interest Rate Risk in Banking Book (IRRBB) refers to the current or prospective risk to banks capital and earnings arising from adverse movements in interest rates that affect its banking book positions wherein your Bank compute the impact on Economic Value of Equity and earning (NII) based on the 6 prescribed regulatory standardized interest rate shocks. The Bank undertakes Internal Capital Adequacy Assessment Process (ICAAP) on a yearly basis which contains assessment / measurement of various risks (Pillar II Risk) along with the pillar I risk, the Risk Appetite of the Bank and appropriate level of internal capital required by the bank in relation to the Banks risk profile. Stress Testing Process is in place for enhancing risk assessment by providing the Bank a better understanding of the likely impact even in extreme unfavorable circumstances. The ICAAP is the process by which the bank ensures that it operates with an appropriate level of capital. It encompasses a large part of what could be considered a complete Enterprise Risk Management (ERM) framework. The ICAAP brings together risk and capital management activities in a form that can be used to support business decisions. Bank also identify the Pillar II risks relevant for the Bank, assess and measure them and suggest the mitigation plan while reporting to risk committee. In last two and a half years year the regulation around Climate Risk, Sustainable Finance and ESG has been evolving rapidly. Bank has already identified climate risk as an pillar II risk in ICAAP. Further, as the regulation and governance around climate risk has evolved, Banks Board has adopted ESG Policy (Environment, Social and Governance) for the Bank. ESG policy include the governance structure for taking the cause ahead and also set deliverables for the various departments in the Bank. The bank has also drafted a dedicated climate risk policy, through which bank has started assessing the climate risk score of its corporate borrowers. The Climate Risk policy also specifies metrics and targets which aligns the bank with the goals of Indian Nationally Determined Contributions (NDCs).

In addition, Bank has field level Risk Managers at all geographical centers (Zones, Field General Manager Office, and Overseas Branches) to inculcate the risk culture at the field functionary level also.

Banks Information Risk Management System has clear objective to protect the bank from Information Security risks in the face of acceleration in cyber-attacks and cyber security threat, specifically to financial institutions. Information security department strengthens controls to protect the brand, reputation and assets of the Bank. Bank is vigilant of the security and privacy of the data related to its patrons and account holders and takes utmost care to protect it from cyber-attacks. Bank has put in place Captive Security Operation Centre (SOC). Bank has implemented information security tools for Real-Time monitoring of Information Security breach attempts / incidents / events on 24x7 basis in order to timely prevent, detect and respond. Advanced security tools like SIEM (Security Information and Event Management), PIM (Privilege Identity Management), DAM (Database Activity Monitoring), WAF (Web Application Firewall), NBAD (Network Behaviour Anomaly Detection), Anti-APT (Advance Persistence Threat) for Web & Email Channels and Anti-DDoS, Data DLP (Data Leakage Prevention) are some of the many security solutions are deployed. Various new security solutions focusing on threat hunting, prevention, detection and response are also put in place. The Bank is ISO 27001:2013 (ISMS) and ISO 22301:2019 (BCMS) and PCIDSS certified. Effective brand protection services are put in place to protect Banks customers from Phishing attacks by way of fake sites. Risk and vulnerability assessment exercises are regularly carried out for all systems with timely remedial activities. Security awareness campaigns, especially with respect to social engineering, are conducted across the Bank encompassing staff as well as customers through various channels of learning and communication.

16. THIRD PARTY PRODUCTS DIVISION

1. Bank of India is a Corporate Agent for Two Life Insurance companies, Four General Insurance Companies and Three Standalone Health Insurance companies.

2. Bank has adopted an Execution model for distribution of Mutual Fund products. In the Mutual Funds business, Bank follows an open architecture enabling it to enter into multiple tie-up arrangements. Accordingly, Bank has entered into a tie-up agreement with various Asset Management Companies to distribute Mutual Fund products.

3. While offering the products and services of Bancassurance & Mutual Fund AMCs, the Bank adheres to relevant guidelines of RBI / IRDAI / AMFI / SEBI or any other regulator which are binding upon it.

4. The Existing Tie up of the Bank with various Insurance companies under each category as well as with Mutual Fund AMC is as follows:

Existing Tie-ups :-

S r No . Products	Tie-up Partner
i Life Insurance	1) Star Union Dai-ichi Life Insurance Company Ltd.
	2) LIC of India
ii General Insurance	1) Reliance General Insurance Co. Ltd.
	2) Bajaj Allianz General Insurance Co.Ltd.
	3) Future General India Insurance Co.Ltd.
	4) New India Assurance Co. Ltd
iii Health Insurance	1) Star Health & Allied Insurance Co. Ltd.
	2) Care Health Insurance Co. Ltd.
	3) Niva Bupa Insurance Co. Ltd.
iv Mutual Funds	Name of AMCs
	1) Bank of India Investment Managers Pvt Ltd.
	2) UTI Asset Management Co. Pvt. Ltd.
	3) HDFC Asset Management Co. Ltd.
	4) Kotak Mahindra Asset Management Co. Ltd.
	5) Franklin Templeton Asset Mgmt. Pvt. Ltd.
	6) Bandhan Mutual Fund (Formerly IDFC Asset Management Co. Pvt. Ltd.)
	7) DSP Mutual Fund (Formerly DSP BlackRock Investment Managers Ltd.)
	8) Aditya Birla Sun Life Mutual Fund (Formerly Birla Sun Life Asset Management Co. Ltd.)
	9) Nippon India Mutual Fund (Formerly Reliance Mutual Fund).
	10) SBI Funds Management Private Limited

5. Bank has earned a total Commission Income of Rs.281.25 crore for FY 2024-25 from various segments as detailed below: (Amt. in Crore)

TPP Segment	Commission Income
Life Insurance	223.43
General Insurance	30.68
Health Insurance	18.72
Mutual Fund	8.42
Total	281.25

17. MARKETING & PUBLICITY:

Bank aims to improve visibility by spreading awareness of its products and state of the art services amongst general public, customers & all its stake holders. Publicity & PR activities are implemented across all geographies with an objective to cater to all sections of the society by bringing out several advertisements campaigns and communications through various available media viz. OOH including signage, digital hoardings, radio, television, print, digital and social media etc.

Bank has implemented different marketing approaches which are imperative not only to stay competitive but also to foster customer engagement and loyalty. Further, by adopting social media and digital marketing strategies, Bank is able to leverage the potential of online media to reach out to larger population, engage them and to translate the same into business. Marketing, Publicity, advertising & Public Relations help the bank towards sustained brand recall and recognition amongst general masses and the same is considered as an investment in brand building.

18. BUSINESS PROCESS RE-ENGINEERING (BPR) efficiency BPR Department works on improving the existing systems and processes as well as introduction of new systems and processes in the Bank and on other aspects of change management that include the organizational structure, products, & policies. The major customer centric initiatives taken during 2024-25 are as under:-

Project works/initiatives during FY (2024-25):

1. Real Time updating of Manual of Instructions:

Banks Manual of Instructions serves as the single point of reference for all operational procedures and guidelines. The manual was updated and real time updating of the manual was also implemented.

2. Identification of centres for opening of new branches: The potential of newly proposed centres was analysed and weighed based on the historical data procured from CIBIL and PIN code based deposits data available on RBI data base. 211 new branches were identified and opened on the basis of this study.

3. Rationalization of Service Charges: Service charges have been rationalized in order to make it more customer friendly and competitive. The processes have been mostly automated.

4. Re-categorization of Indian Branches: We have revised categorization norms and accordingly re-categorization of branches has been done for ensuring right staffing and ease of customer service delivery.

5. Updating of Banks website: Regular meetings have been conducted and follow-ups made to remove all irrelevant and obsolete content from banks website.

6. Modification in Organisational Structure: The Area Manager vertical was not found to be effective to the expected level and hence was wound up with effect from 30.06.2024

7. Star Paramarsh Staff Suggestion Scheme to have firsthand operational/practical suggestions from the field: We have expanded the scheme to cover all ideas & suggestions of staff given at all fora, including at conferences, conclaves, and training centers, for operational efficiency & service effectiveness.

8. Compendium of HO Departments- The Compendium provides clarity on the roles and functions of Head Office Departments. Updating of Compendium is being done on regular basis.

9. Uploading of Circulars- Regular uploading of circulars issued by departments on Public folder and

Stardesk (As directed by the Structured Committee uploading of circulars to Public Folder has been discontinued)

Enhanced Access and Service Excellence (EASE) 7.0:

EASE 7.0 was launched with an emphasis on enabling the Banks to drive national priorities, maintain a strong customer service orientation, managing operational risks effectively and capitalising new age capabilities built. The focus of EASE 7.0 is on five key themes: l Banking towards Viksit Bharat l Excellence in Customer Service l Adoption of New Age Technology and Other Advance

Capabilities l Effective Risk/ Fraud Management and Recovery l Developing Employees for Emerging Banking

Priorities

Bank of India has been ranked 6th out of 12 PSBs and ranked 1st in Best Improver category with 85.4% improvement over Baseline in Q3, FY 2024-25 under EASE 7.0. Major initiatives undertaken by the Bank under EASE 7.0 are listed hereunder

1) Champion Sector : "Tourism, Hospitality and Logistics", is identified as Champion Sector to improve MSME advances with target of Rs 2000 Cr for FY25 and Rs 3000 Cr for FY26.

2) Entrepreneurial product for Young Customers

: Youth-oriented entrepreneurial product "YUVA

UDAYMI" aimed at Young Customers (age group 18-35 years) to widening the young customer base for aligning with the idea of Viksit Bharat.

3) Green Cell Formation: A specialized unit, "Green Cell" is formed with the objective of exploring opportunities to improve Green Liabilities by adding new product offerings and to improve Green assets by formation of pathways to reduce exposure on highly polluting industries and focusing more on sustainable lending.

4) Feedback Capturing Mechanism: A Centralized Dashboard is developed to track the performance of branches on customer experience based on the feedbacks received from customers.

5) Enhance customer experience using ChatBot:

Use of AI/ML to improve customer interactions and upgrading our ChatBot functionalities to further enhance the overall customer experience.

6) QMS: Deployment of Centrally Monitored Digital QMS in high footfall branches to improve Customer Convenience.

7) Online OTS: Digital portal for OTS of small ticket loans up to Rs 10.00 lakhs made live to improve recovery in small ticket NPA loans.

8) Analytics-Driven Solutions: Offering Analytics-driven solutions to Customers for Enhanced Customer Engagement.

9) Digital Journey of RAM Products : End to End digitization of 16 products across RAM segments to increase the number of STP loan journeys from the existing 4 to 16 by March 2025.

10) HR Transformation : HR Transformation initiatives which focus on manpower planning and skill development to further strengthen our operational capabilities.

As evident from the initiatives mentioned above, digitization, digitalization and process re-engineering are the key to transform the bank as envisaged under EASE 7.0. Bank has taken a series of initiatives to create a digital ecosystem to enhance customer engagement, improved productivity and profitability.

19. LEGAL & RIGHT TO INFORMATION ACT:

Legal Department of the Bank acts as support department and provides platform for various matters of Opinion, Documentation, Litigation etc. emanating from various other functional departments at Head Office. Besides attending to referral matters of various FGMOs/ Zones, Domestic Branches/Foreign Branches and Banks subsidiaries, the Department also caters to the specific needs of specialized Departments like Information Technology Department, International Department, Treasury Department, Digital Banking Department, Digital Lending Department, Card Products Department, Transaction Banking Department etc. by Drafting/Vetting of documents of various contracts including Service Level Agreements (SLAs), agreements for Software/Hardware procurement, various types of tie-up arrangements /new products etc. The Right to Information Act has taken a pivotal role in the Society and lot many applications are received by the Bank at various levels. Bank has identifiedCentral Public Information Officer and Appellate Authority at various FGMOs/Zones/ LCBs. AGM (Law)/DGM (Law) at, Head Office is designated as the CPIO for Head Office and the General Manager, Legal Department is the Appellate Authority at Head Office. The procedure for disposing of application(s) or appeals involves collecting the desired information from various Departments and supplying the same to the applicant within the fixed duration of 30 days and also to guide the other FGMOs/ Zones on specific points.

Moreover, with a view to create awareness among the staff, Legal Department issues circulars and guidance to FGMOs/ Zones on the amendments on Statutes and new Legislations. In addition to the above, the Legal Department also attends to: l Approval of Plaints in respect of suits filed by Bank and Monitoring of said cases. l Advising on writs, cases, appeals, claims etc. filed against the Bank, vetting of the applications/affidavits etc. wherever required. l Attending to the various queries of Ministry, Reserve Bank of India and IBA on different matters including new Legislation/amendments under consideration on various Acts. l Opinion on Share transmission matters of Share Dept/ Investor Relations Dept. l Cases against Bank/Claim against Bank not acknowledged as debt/provision requirement/follow up with Zones etc. l Consolidation of Lok Adalat data received from FGMOs/Zones l Collection and compilation of data/statistics pertaining to suit filed/decreed cases/Lok Adalat, RBS date, RTI returns and submission to various authorities like Reserve Bank of India, DFS, CIC etc.

20. COMPLIANCE DEPARTMENT

Bank has an independent Compliance Department which is headed by an officer of the rank of Chief General Manager referred to as Group Chief Compliance Officer. The core function of the department is to ensure compliance of statutory, regulatory and Banks internal guidelines for both domestic as well as overseas operations. The department works as the single point of contact for RBI and ensures smooth conduct of Risk Based Supervision (RBS) as per prevalent SPARC framework. Bank has a Board approved Compliance Function Policy which is framed as per Reserve Bank of India guidelines and is reviewed & updated annually. The policy gives credence to the following components: i) Governance ii) Compliance Risk Assessment iii) Policies, Procedure and related controls iv) Compliance Monitoring and Testing v) Reporting and Communication vi) Training and use of technology to improve compliance and vii) Regulatory interaction and Coordination. The department has adopted technology in compliance to improve transparency, efficacy, oversight and effectiveness and to deal with uncertainty and manage risks, both known and unknown which can help improve the strategy, performance and offer The Department is also conducting periodic testing exercise, time both at head office and field levels, to confirm adherence and sustenance of RBI guidelines/instructions. The number of Compliance testing is in increasing trend year on year and reporting of test results are submitted to Top Management on periodic basis. Compliance testing outcomes along-with the other control measures are included for assessment of field level compliance risk assessment.

Going forward, the department is in the process of introducing a Compliance Manual for the benefit of the entire workforce across the bank. The department is also aiming to automate the compliance function in the bank, as per the RBI guidelines.

The Compliance Department is also overseeing compliance function of overseas establishments which follow their respective territory based compliance policies as well as KYC-AML-CFT Policies. Each overseas centre/ branch/subsidiary has an independent compliance officer to look after the respective compliance function. Overseas branches comply with the applicable regulatory requirements (home country /host country regulatory guidelines whichever is stringent) and submit confirmations / compliance sustainability reports. The compliance officer of each overseas branch undertakes monthly compliance testing and submits report to Head Office. To inculcate culture at down the level, field level compliance officers are posted in each zones and Field General Manager Offices (FGMOs) across India under direct reporting line of Group Chief Compliance Officer.

21. OFFICIAL LANGUAGE:

The Bank has a well established Official Language Department which ensures implementation of the provisions related to the Official Language Policy of the Government of India and progressive use of Hindi in the Bank. In accordance with the annual programme of the Government of India, for the planned implementation of the Official Language Policy of the Government, the Annual Karya Yojana 2024-25 was prepared by our bank, which was released by MD & CEO. World Hindi Day 2025 and Hindi Day 2024 were celebrated with full enthusiasm. All India Inter Bank Essay Competition was organised on the occasion of World Hindi Day. On the occasion of Hindi Diwas, many competitions were organized across the bank in which foreign branches also participated. On this occasion, a quiz related to the official language Hindi was organized on the social media handles of the bank in which customers also participated enthusiastically. Bank of India participated in the Fourth All India Official Language Conference (New Delhi), organized by the Government of India on 14th and 15th September 2024. In this, our bank was honored with the Kirti Award by the Honble Minister of State for Home Affairs, Shri Nityanand Rai and other dignitaries. Also, Narakas working in collaboration with Nagpur Zone was honored with Narakas Samman..

In the financial year 2024-25, emphasis was laid on capacity building and better performance of Official Language Officers and keeping this in mind, All India Annual Review Meeting, training program on Kanthasth 2.0 and Advanced level Official Language Workshop were organised. The e-library was inaugurated by Managing Director and Chief Executive Officer on 10.02.2025 at the Head Office. At the India level, information about the great sons of the country is sent every week in hindi through the "Eminent Personalities Series". Hindi email competition was organized in the head office throughout the year. "Rajbhasha Shield Competition" was organized for the departments of the head office and Zones. An All India Seminar has been organized by New Delhi Zone and Kolkata Zone. Further, an online seminar was organized by 11 zones. In the year 2024-25, 15 new Official Language Officers joined Our Zones and TOLIC have received 8 regional level awards from the Government of India. Also, 34 zones and branches have received awards from TOLIC during the year. Many staff members have also in All India Interbank competitions and TOLIC competitions. This year the Bank has organized a total of 210 Official Language workshops in which 5322 staff been trained. Our Bank is successfully carrying out the responsibility of convenorship of 15 TOLIC as prescribed by the Government. Our 03 offices/branches were inspected the Parliamentary Committee on Official Language during the year. All inspections were completed smoothly. To ensure the use of official language Hindi, the department promptly translates bank circulars etc. To encourage more work in the official language, the Bank is publishing Hindi magazine "BOI Varta" and house journal "Taarangan".

22. HUMAN RESOURCES, LEARNING AND DEVELOPMENT: A. HUMAN RESOURCES:

Decision making in HR is aimed to be more data- driven to reduce the likelihood of failure and bias. Bank aims to achieve consistency through building capability and continuous learning and development. l As on 31.03.2025, there were 50,564 employees on the rolls of the Bank. Out of this, there are 27,730 Officers, 18101 Clerks and 4733 Subordinate Staff During FY 2024-25, Bank recruited 799 Staff Officers in General Banking and Specialist cadre and 228 (46 under compassionate appointment) in Clerical cadre. During FY25-26, the Bank plans to recruit 1172 Officers and 1617 clerical staff. l The New Performance Management Policy for Officers has been approved by Banks Board on 29.03.2025. The Performance Management System (PMS) Policy ensures clarity, fairness, and alignment with organizational goals, encompassing key areas such as role specific KRAs, marking methodologies, cohort management, multi-hatting approach, appraisal and grading logic and appeal process. l In Succession Planning, endeavour is being made to bridge systematically the gaps of skill shortage in critical areas of Corporate Credit, Credit Monitoring, Recovery, Treasury etc and also in the emerging areas such as Infrastructure Financing and Financial Inclusion, through mapping of competencies vis-a-vis critical roles identified. l In Talent Management sphere, a focussed Talent Review & Development Process is being undertaken to ensure that the current incumbents and potential employees in these roles will be suitably trained and groomed to assume these roles in time. l Towards paperless HR, various digitisation initiatives such as Online acceptance of terminal dues applications, complaint handling, Investment dashboard for the management etc., submission of Form 12BB in HRMS have been implemented. l Bank has implemented a gender neutral Prevention of Sexual Harassment at workplace (POSH) Policy in strict compliance of Government of India instructions . as are advised from time to time, for empowerment of women. It has been the endeavour of the Bank to eliminate any form of sexual harassment and ensure awards atindividuallevel safe & conducive and harmonious work environment to guarantee that all employees enjoy equality, dignity and respect l Officers who are interested and are having flair members have of working in specialized areas like Credit, Risk Management, Treasury etc., are being identified by through ‘Star Hunt scheme. After selection, such officers are trained in the vertical they are selected for and are posted in identified fields. l To promote self-learning many courses from identified institutes as well as under MOOCS were included in the Banks Capacity Building. Customized training programmes have also been formulated in collaboration with external training institutes like CRISIL, IIBF, CAB Manipal Institute etc. for imparting trainings in areas like Credit, Compliance etc. l Bank aims to ensure seamless implementation of various HR initiatives like Job Family, Succession Planning & Talent Management Process and any other Government directive envisaged in PSB Reforms Agenda for Enhanced Access & Service Excellence (EASE). l Bank has implemented ‘Bank of India Code of Ethics & Conflict of Interest Policy towards ensuring an organization based on ethics and moral values and a work environment free of any kind of bias/ discrimination and harassment. l We are committed to strict compliance and implementation of Equal Opportunity Policy in our bank towards eliminating all forms of discrimination and ensure that the persons with disabilities enjoy equality, dignity and are empowered and better equipped to perform at par with others. l Star Pratibimb (HR Evaluation) revamped for year 2024- HR Evaluation at 3 levels i.e. Zonal Office to Zonal Office, Training Centre to Training Centre and Branch to Branch. Evaluation on 10 parameters with marking system in 100. Same would help in better objective evaluation of HR policies. l Lateral Recruitment in specialized stream initiated- Process completed for recruitment of 158 Officers in Specialist Stream (Security, Economist, IT

Officers, Law, Risk etc.). 142 Officers who have been found suitable have been selected, out of which 100 Officers have l Star Samarth an HR initiative to empower and provide assistance to the employees to share their career aspirations, goals, and other concerns is functional across all the Zones PAN India. Based on the feedback and experience gathered, the program shall be reviewed after one year. Training for the Welfare Officers has been conducted for providing effective assistance to the employees. l WhatsApp Chatbot for Banks Retirees has enabled the pensioners to get information and resolve all the basic general queries related to pension in just one click l DCPS- Change in Investment Model from Corporate CG Scheme Model to Subscriber Level Model : Option has been given to Individual Staff to change Pension Fund Manager and decide Asset Class Allocation l Three centers have been identified for Centers of Excellence (COEs) for training of staff members o MDI-Mumbai (for people and leadership) o STC-Noida (for Credit & Risk) and o ITTC-Pune (IT). l Bank has initiated the process of engagement of apprentices in the Bank on pilot basis : Bank has published notification dated 25.02.2025 for engagement of 400 apprentices. The process will be completed by 31.05.2025. Thereafter, 1000 apprentices will be engaged subsequently in a phased manner. l Transfer & Rotation Policy (as per DFS guidelines)

– The Transfer & Rotation Policy of the Bank has been reviewed in line with DFS guidelines with 3 Options given to all Officers making the process more transparent and employee friendly l Promotion Policy has been revamped to streamline the process of promotion by including online assessment test for Scale III, IV and V. The promotion process for the year 2024-25 has been completed and results have been declared. l Bank has made enhancement in limits of various Staff Loans i.e. Staff Vehicle Loan, Staff Housing Loan, Personal OD facility, etc. so as to enable the employees to avail the benefits of these loans.

l As a part of the ESG initiatives, various events were organized during the year ended 31.03.2025:- Health Check-up Camp on bone mineral density & Dental preceded by talk on Ergonomics Breast Cancer Awareness Camp. Blood Donation camp was organized in collaboration with H N Reliance. l QR based Feedback system : To enhance our customer service and enable direct feedback on the services rendered by our staff members, QR based feedback system has been introduced. l Various new modules have been introduced in HRMS such as .

- Online application of NOC for appearing in Examinations

- Online Application and processing of Staff

Term Loan

Compliance with Reservation Policy for representation of SC/ST/OBC/EWS/PwD/Ex-SM: The Bank is strictly complying with the reservation policy of Government of India. Separate cell for SC/ST and OBC has been set up at Head Office as well as in all Zonal Offices which takes exclusive care in implementing the reservation policy and redressal of grievances related to SC/ST/OBC

Employees. EWS reservation in Direct Recruitment was implemented in the Bank since 01st February 2019.

Representation of SC/ST/OBC/EWS staff as on

31.03.2025:

Cadre	SC	% to total	ST	% to total	OBC	% to total	EWS	% to total	Total
		staff						staff
OFFICER	4973	17.93%	2527	9.11%	8464	30.52%	409	1.47%	27730
CLERK	2732	15.09%	2161	11.93%	5184	28.63%	506	2.79%	18101
SUBSTAFF	1627	34.08%	567	11.87%	1332	27.90%			4733
TOTAL	9332	18.57%	5255	10.39%	14980	29.62%	915	1.80%	50564

Project StarLIGHT

A Strategic Enabler of Vision 2031

Bank of Indias HR Transformation through Project StarLIGHT is architected as a strategic lever to realize its Visionary goals , with a clear focus on performance, agility, leadership, and digital enablement. The initiative is structured around 5 transformation pillars:

1. Performance & Accountability: l Launched a new Performance Management System (PMS) for field officers, embedding outcome-based KRAs and structured review rhythms. l Revised APAR policy for OF1 OF6 levels approved by the Board, aligning performance evaluation with future roles and organizational needs. l FY26 targets were scientifically set through Target Setting tool using market intelligence from CIBIL and RBI, and cascaded institution-wide from Corporate office to Zones ensuring alignment and ownership.

2. Talent Deployment & Mobility: l The entire promotion and posting process has been digitized, including a rule-based recommendation engine for officer transfers. l Job Family framework expanded from 8 to 11 families; revised policy approved by the Board. Officer preferences (OF1 OF5) captured for personalized career mapping. l This data-backed approach enhances transparency and allocation and succession planning.

3. Capability Building at Scale: l 25,000+ officers across OF1 OF4 have undergone role-based skill assessments using a curated question bank of 5,000+ items. Key groups include BMs, credit, deposit, IT, Risk, Audit, Compliance, and other specialist streams. l Launched Star SAMVAAD, a dynamic L&D engagement platform offering leadership podcasts, sector primers, and wellness seminars clocking 1 lakh+ digital impressions. l Emphasis on targeted skilling, continuous learning, and development to support lateral mobility and future-readiness.

4. Leadership Pipeline Strengthening: l 540+ senior officers (OF5 OF7) assessed on a robust framework of 11 behavioral competencies, enabling sharper leadership diagnostics. l A revised Succession Planning policy is now Board-approved, supported by coaching interventions and talent visibility. l Leadership development is now a structured journey from competency assessment to role readiness, enabling a sustainable executive bench.

5. Governance, Compliance & EASE Alignment: l End-to-end tools for target setting, appraisal (APAR), Individual Development Plans (IDPs), Manpower planning, Postings, and Succession Planning are now implemented. l Demonstrated full compliance with EASE

7.0 benchmarks during Q3 & Q4 reviews, reinforcing the Banks commitment to institutional excellence.

l Ongoing investments in people analytics and generative AI ensure continuous feedback loops, real-time insights, and agile HR governance.

This transformation through Project StarLIGHT is not just about modernizing HR it is about building a digitally empowered, strategically aligned & future ready workforce that can anchor & propel Bank of Indias growth ahead.

23. LEARNING AND DEVELOPMENT:

Learning and Development (L&D) Department played a pivotal role in advancing the Banks strategic goals through comprehensive employee training and capacity building initiatives. As the banking landscape continues to evolve with technological advancements, regulatory updates, and shifting customer expectations, our L&D team remains focused on equipping employees with the necessary skills and knowledge to thrive in a dynamic environment. in manpower Key achievements during the year included the launch of several digital learning programs, leadership development tracks, and regulatory compliance modules. A blended learning approach combining in-person sessions, virtual classrooms, and self-paced e-learning enabled greater accessibility and flexibility across the organization. Over the year, more than 27000+ employees participated in training programs covering a broad range of topics including risk management, customer service excellence, digital banking tools, and cyber security awareness. Additionally, the department introduced specialized training pathways for high-potential talent and newly appointed DROs, aimed at fostering future leaders within the bank.

To support continuous learning, the L&D team expanded the Banks internal knowledge platform and introduced personalized learning journeys tailored to individual career paths. To enhance the capabilities of employees, Bank has made several collaborations with Training Institutes viz. CAFRAL, CAB Pune, NIBM Pune, Indian School of Business (ISB) Hyderabad & Mohali, IIM Udaipur, ASCI

Hyderabad, IDBI Training College Hyderabad, IIBF, IIBM, BIRD Lucknow & Mangalore, IRMA Anand, Xavier Institute of Management (XIMB), Bhubaneswar, NIBSCOM Noida, National Forensic Science New Delhi and Gandhinagar, Manipal Global, IMI New Delhi, Institute of Insurance and Risk Management (IIRM), Hyderabad, Indian Society for Training & Development (ISTD), New Delhi etc.

Customized trainings are being conducted at knowledge partners campuses. These trainings include important subjects like Intensive Credit, Leadership Training programme for Women Branch Heads, RBC Heads, SMECC

Heads, HR Heads, Star Krishi Vikas Kendra Heads (SKVK), Internal Auditors and Lead District Managers (LDMs). 2900+ participants attended various programmes All training colleges are collectively bringing out monthly magazine, Star Darpan. Other publications like Sandipani and Vijeta by training colleges are instrumental in the skill upgradation of employees Three training colleges have been identified as Centres of Excellence (COE) as part of HR transformation exercise

(Project Star LIGHT). The details of COEs are as under: MDI Belapur: Centre of Excellence for People & Leadership Development. ITTC Pune: Centre of Excellence for IT and Customer Service.

STC Noida: Centre of Excellence for Credit and Risk Management training.

Looking ahead, the Learning and Development Department remains committed to building a resilient, future-ready workforce by aligning training efforts with the banks transformation agenda and long-term vision.

24. CUSTOMER EXCELLENCE BRANCH BANKING:

Customer Excellence Branch Banking Department redresses the grievances raised by customer on different channels such as web portal, Call Centre, email, hand delivery etc. While ensuring effective and timely redressal of the grievances, the CEBB

Department also fosters the sense of service excellence among the customers, by way of motivating the field staff to serve the customers with smile. There are various levels for supervision and monitoring of Internal Grievance Redressal Mechanism in our Department, Customer Service Committee of the Board (CSCB) being on the Top of the ladder. A comprehensive note on the Internal Grievance Redressal Mechanism is placed before the CSB every quarter, as per regulatory requirements, for their assessment of the functionality and activities of the Department coupled with the performance on various parameters. Standing Committee on Customer Service (SCCS) meeting is conducted on monthly basis to review the grievance redressal mechanism and customer service of the Bank. The Committee is headed by Executive Director, participants being CGMs/General Managers of various verticals. Issues pertaining to different departments, which are escalated to the CEBB Department for resolution are sorted out and discussed in these meetings wherein directions by the Top Management are passed on to the respective departments for speedy, effective and conclusive redressal of the grievances. In EASE Banks performance has shown marked improvement quarter on quarter. In the ratings for the latest quarter under EASE 7.0, Bank has achieved 3rd rank in Customer Service amongst the 12 Public Sector Banks.

The Bank has robust Complaint Management System, i.e. Star Sampark (CRM Next) which captures all complaints emanating from various channels. Every complaint is having (a) unique ID which can be tracked online by the customer. Notification of updates with regard to the complaint is sent to the complainant through SMS /email on their registered mobile number/ email ID. Complainant can also reopen complaints if not satisfied with the resolution provided . bythe Bank

The CEBB Department has also implemented Feedback Capturing Mechanism through various sources to assess the satisfaction levels of our Banks services among our customers. Feedback through QR code are captured for branch visiting customers. It has also implemented robust mechanism to monitor feedback received from customers i.e. Qlik Sense Portal. Qlik Sense portal monitors the Customer Satisfaction Score (CSAT) which represents feedback responses provided by the customer of the Bank. Call Centres are situated at two seismic zones i.e. Airoli (Mumbai) and Begumpet (Hyderabad). These Call Centres also cater to various services of customers 24X7X365. The Bank is in the process of revamping the Call Centre with new state of art technology in evolving changing technology landscape.

25. BRANCH NETWORK & EXPANSION

Bank has a geographically well spread branch network in India and abroad. Bank had 5306 branches in India as on 31.03.2025. Composition of Banks domestic branch network is as under:

Category	31.03.2024		31.03.2025
	No of Branches	% to total	No of Branches	% to total
Metropolitan	990	19.23	974	18.36
Urban	830	16.12	851	16.04
Semi-Urban	1464	28.44	1573	29.65
Rural	1862	36.17	1906	35.92
Digital banking units	2	0.04	2	0.03
Total Domestic	5148	100	5306	100
Branches

During the year 2024-25, Bank has opened 211 new branches. The category wise break up of newly opened 211 branches is as under:-

Metro	Urban	Semi- Urban	Rural	Total
32	28	109	42	211

In addition, Bank has presence abroad, with 22 branches (including IFSC Banking Unit at GIFT City), 4 Subsidiaries, 1 Joint Venture and 1 Representative Office, spread across 15 countries in 5 Continents, which keep Banks presence felt in all time zones and important financial centers of the globe.

26. DOMESTIC SUBSIDIARY MANAGEMENT DIVISION: BOI Shareholding Limited (BOISL):

Bank has investment of Rs. 6.65 Crore in BOISL, a wholly owned subsidiary of the Bank. BOISL acts as Depository Participant (DP) for both the depositories - National Securities Depository Ltd. (NSDL) and the Central Depository Services (India) Ltd. (CDSL). The Company also commenced its Corporate BSA activity in April 2024.

Bank of India Investment Managers Pvt. Ltd. (BOIIMPL)

& Bank of India Trustee Services Pvt. Ltd. (BOITSPL) (Erstwhile BOI AXA Investment Managers Pvt. Ltd. and BOI AXA Trustee Services Pvt. Ltd.): These subsidiaries are in the business of Mutual Fund and Investment Advisory Services under SEBI Investment Advisor Regulations. Bank of India is holding 100% stake in BOIIMPL and BOITSPL with investment of Rs. 98.10 Crore.

BOI Merchant Bankers Limited (BOIMBL): Established in 2014, BOI Merchant Bankers Limited is engaged in merchant banking business including arranging of Syndicated Loans, Bonds and Debentures. It is a wholly owned subsidiary of the Bank with paid up capital of Rs. 10.00 Crore.

STCI Finance Limited:

Established in 1994, STCI Finance Ltd., acts as a non-deposit taking NBFC. Bank of India with 29.96% holding (investment of Rs. 130.10 Cr.) is the largest stakeholder in STCI. STCI Primary Dealer Ltd. (STCIPD) is a wholly owned subsidiary of STCI Finance Limited. STCIPD commenced its operations in June 2007 and is one of the leading primary dealers in the country.

Star Union Dai-Ichi Life Insurance Company Ltd. (SUDLIFE):

Bank of India, Union Bank of India and Dai-Ichi Life International Holdings, Japan have formed a Joint Venture "Star Union Dai-Ichi Life Insurance Company" to provide life insurance services to its clients. The company commenced insurance business in February 2009. BOI holds 27.48% (investment of Rs. 132.92 Crore), with UBI holding 25.10% and Dai-Ichi Life International Holdings holding 47.42% stake in the Company.

ASREC (India) Ltd.

ASREC (India) Ltd. was floated by the Specified Undertaking of the Unit Trust of India (SUUTI) to undertake securitization and asset reconstruction activities. Bank holds 26.02% stake (investment of Rs. 27.60 Crore), in the Company.

INVESTMENT / ALLIANCES:

National Asset Reconstruction Company Ltd (NARCL) IBA has set up Bad Bank to resolve the NPA issue in Banking Sector. Bank has invested Rs 247.50 Crore in NARCL with 9.00% holding.

India Debt Resolution Company Ltd (IDRCL) - IBA has also set up IDRCL to provide debt management service to NARCL. IDRCL brings expertise to the table with its team of sectoral experts and turnaround specialists. Bank has invested Rs. 0.80 Crore in the company with 4.00% holding.

National Commodities Management Services Ltd. (NCML) is promoted by the National Commodity and

Derivatives Exchange Ltd. (NCDEX). It was incorporated on 28.09.2004 to promote and provide collateral management services for securing, managing and controlling securities and commodities. Bank holds stake of 2.34% in the equity capital of the company with Investment of Rs. 3.00 Crore.

SWIFT India Domestic Service Pvt. Ltd. a joint venture company promoted by SWIFT and 9 major Banks including

Bank of India. SWIFT is holding 55 % equity and remaining 45% is held by 9 major Banks. Bank of India has an equity stake of 2.81% in the company with an Investment of Rs. 7.71 Crore.

Acuite Ratings & Research Limited (Earlier SME Rating Agency of India Ltd. (SMERA)) was set up during FY 2005-06 by SIDBI in association with Dun & Bradstreet, one of the leading providers of commercial data and analytics. The Companys objective is to provide comprehensive, transparent and reliable ratings which would facilitate greater and easy flow of credit to SME sector. Bank holds a stake of 1.96% in the equity capital with an investment of Rs. 0.28 Crore.

OTHER STRATEGIC INVESTMENTS:

Bank also has strategic investments in following entities: (Rs. in Crore, as on 31.03.2025)

Name of the Company	Book Value#	Face Value
SIDBI	650.53	15.10
METROPOLITAN STOCK EXCHANGE OF INDIA	0.00	5.00
ONDC	14.47	20.00
NPCI	10.00	10.00
Invent Assets Securitization and Reconstruction Pvt. Ltd	5.35	4.00
SBI DFHI LTD	29.99	4.42
CERSAI	50.70	2.16
AGRICULTURE FINANCE	1.82	1.26
CORPORATION
Central Ware Housing Corporation Ltd	39.92	1.03
PSB Alliance	1.76	2.00
CSC e-Governance services India Ltd	12.10	1.00
CCIL	14.09	0.50
U.V. Asset Reconstruction Co. Ltd	0.32	0.15

# In compliance with RBI Master Direction on Clarification, Valuation and Operation of Investment Portfolio by commercial Banks (directions) 2023 dated 12.09.2023. All investments were fair valued on initial recognition and the subsequent Appreciation / Depreciation was transformed to General Reserve as on 01.04.2024. Accordingly, the investment in unlisted strategic investment were fair valued through breakup value and Book value of investment was changed w.e.f. 01.04.2024.

27. FRAUD RISK MANAGEMENT

Good corporate governance serves as an important factor in control of fraudulent activities. It may be true that Fraud itself cannot be eliminated but fraud risks can be managed and mitigated like other business risks with a proactive framework such as - Devising and managing the Fraud Risk Management Framework with a board approved Policy, supported by Operational Manual & SOPs,

Timely Reporting of Frauds to the Regulators and the Board, Diagnosis and root cause analysis of fraud cases, and implementation of remedial measures to mitigate risks thereof in respect of product deficiencies, backing support from stake-holder departments at Head Office, Dissemination of modus operandi & reasons for occurrence of fraud by way of Circulars / instructions to avoid the risk of recurrence of frauds of similar nature, at branches, Sensitizing staff through short alert messages by of tickers / periodical messages through MMS and training/ Video Conferencing on Fraud prevention, in coordination with Learning & Development Department, Enterprise wide Fraud Risk Management Solution (EFRMS) encompassing all non-credit delivery channels except cards; which is being monitored through separate solution, has been implemented covering domestic branches and one overseas centre, with CORM approved SOP.

Working on ‘Indian Cyber Crime Coordination Centre (I4C), portal managed by LEAs to providerequired functionaries / data in coordination with Digital Banking Department and Freezing of the accounts for blocking further damage to customers, Filing of Complaints with Law Enforcement Agencies (LEAs) by branches/ controlling offices. Issuance of LOCs as per extent guidelines of IBA guided by the direction from MHA.

Highlights during the year:

Perpetration of new frauds reported during the FY 2024-25 is Rs.1073.49 Cr (excluding 5 frauds of Rs.375.72 Crore which are re-reported on reexamination) which shows increase on comparing with frauds reported in FY 2023-24 amounting to Rs.131.31 Cr. (excluding seven frauds of Rs. 735.39 Cr. which were re-reported after re-examination).

Five cases with amount involved Rs.375.72 Cr which were de-activated by RBI as per Supreme Court verdict dated 27.03.2023 are re-reported by us during FY 2024-25 after re-examination, complying with Principle of Natural Justice. Hence, excluding these 5 cases, involving amount of Rs.375.72 Cr, total amount of fraud reported in FY 2024-25 is Rs.1073.49 Cr. only.

Internal frauds due to staff involvement was amounting to Rs.7.42 Cr in FY 2024-25 which consist of 0.69% of newly reported frauds of Rs.1073.49 Cr.

28 VIGILANCE MANAGEMENT:

"VIGILANCE MANAGEMENT: Vigilance department is headed by Chief Vigilance Officer for vigilance administration in the Bank under the general superintendence of Central

Vigilance Commission (CVC). Vigilance department covers all vigilance related matters of banks officials in domestic operations, overseas operations, and subsidiaries. The Vigilance Administration of three Regional Rural banks sponsored by Bank of India, viz. Vidharbha-Konkan Gramin Bank, Aryavart Bank and Madhya Pradesh Gramin Bank are also supervised by Vigilance Department. Vigilance department works under Chief Vigilance Officer assisted by two Deputy General Managers and other officials having background / experience in the field investigation and disciplinary matters. For operational convenience, Vigilance Department has stationed one Vigilance Officer in each zone under the direct control of Vigilance Department, Head Office. Concurrent Auditors, working at overseas centres, perform the role of Vigilance Officer for overseasbranches. The Vigilance Department deals with all 3 functions of Vigilance Administration such as Preventive, Punitive and Surveillance Vigilance, with the objective of enhancing the level of managerial organisation. Communications covering gist of circulars, guidelines, and instructions etc., issued by the DFS, DoPT, Offices from CVC are circulated to field time to time along with other related subjects of preventive vigilance".

29. DIVIDEND DISTRIBUTION POLICY

In terms of Regulation 43A of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Bank has formed a Dividend Distribution Policy and the same is available on our website https://bankofindia.co.in/documents/20121/25744421/5-Dividend-Distribution-policy.pdf

ACKNOWLEDGEMENT:

The Board expresses its gratitude to the Government of India, Reserve Bank of India and Securities and Exchange Board of India and other regulatory authorities for their valuable guidance and support. The Board also thanks the financial Institutions and correspondent banks for their co-operation and support. The Board acknowledges the unstinted support of its customers, business associates, bondholders and shareholders. The Board also wishes to place on record its appreciation of staff members for their dedicated service and contribution for the overall performance of the Bank.

For and on behalf of the Board of Directors

Sd/-

Place : Mumbai Rajneesh Karnatak

Date : 9 May, 2025 MD & CEO