Bank of India releases capital post Regional Rural Bank amalgamation

Bank of India (BSE: BANKINDIA) has announced the release of capital following the amalgamation of Regional Rural Banks (RRBs), according to a regulatory filing dated April 9, 2025. As part of the amalgamation process, Bank of India has transferred INR32,945,344,410 to State Bank of India, the transferor RRB's sponsor bank, at face value, as advised by NABARD's National Level Project Monitoring Unit. This transfer relates to the Madhya Pradesh Gramin Bank, where Bank of India acts as the sponsor bank. Post-transfer, the shareholding structure of Madhya Pradesh Gramin Bank will remain unchanged, with 50% held by the Central Government, 15% by the MP State Government, and 35% by Bank of India. Additionally, Bank of India will receive a total of INR656,355,610 back, with INR450,460,3120 coming from Bank of Maharashtra for the Vidharbha Konkan Gramin Bank and INR205,895,2990 from Bank of Baroda for the Aryavart Bank. In a separate announcement dated April 30, 2025, Bank of India also revised its Marginal Cost of Funds based Lending Rate (MCLR), effective May 1, 2025, with overnight rates adjusted to 8.15%. The Repo Based Lending Rate (RBLR) remains unchanged.