Bank of India announces leadership change, investor meeting, and rate update

Bank of India announced the elevation of Shri Raghvendra Kumar, previously chief vigilance officer (CVO) at PNB on deputation, to chief general manager of the bank, effective September 29, 2025. This change was communicated to the National Stock Exchange of India Ltd. and BSE Ltd.

In addition, the bank held a one-on-one physical meeting with a representative of Canara HSBC Life Insurance Company Ltd. on September 29, 2025, as part of an investor/analyst engagement. During this meeting, only information available in the public domain was shared.

Concurrently, Bank of India updated its lending rates, effective October 1, 2025. The marginal cost of fund based lending rate (MCLR) and repo based lending rate (RBLR) remain unchanged. However, the fixed rate spread (FRS) has been revised to 1.75% for fixed rate retail loans. Consequently, the rate of interest for fixed rate retail loans with a 3-year MCLR and FRS will be 10.75% from October 1, 2025. The MCLR rates are: overnight MCLR 7.95%, 1 month MCLR 8.30%, 3 month MCLR 8.45%, 6 month MCLR 8.70%, 1 year MCLR 8.85%, and 3 year MCLR 9.00%.