The Reserve Bank of India (RBI) has levied a penalty of ₹1,96,800.00 on Union Bank of India. This penalty is related to deficiencies observed in mutilated and soiled note remittance, CCTV-related issues, storing branch cash, and non-conduct of surprise verification. Union Bank has taken steps to prevent future occurrences.
RBI Imposes Penalty on Union Bank
The Reserve Bank of India has imposed a penalty of ₹1,96,800.00 (Rupees One lakh ninety-six thousand eight hundred only) on Union Bank of India, according to an announcement dated September 23, 2025.
Details of the Penalty
The penalty was levied due to the following deficiencies:
- Observed deficiencies in mutilated and soiled note Remittance
- CCTV related issues
- Issues related to storing branch cash
- Non-Conduct of Surprise Verification
Date of Direction
The date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority is 22.09.2025.
Impact
The impact on financial, operation, or other activities of the listed entity is considered Not Significant.
Preventive Measures
Union Bank of India has taken necessary preventive measures to avoid recurrences of such instances.
Source: BSE
