The Reserve Bank of India (RBI) has imposed a penalty of ₹1,02,950.00 on Union Bank of India. The penalty was levied due to discrepancies observed in soiled notes remitted to RBI and other miscellaneous reasons. Union Bank has taken preventive measures to avoid recurrences.
RBI Penalty Imposed
Union Bank of India has announced that the Reserve Bank of India (RBI) has imposed a penalty on the bank amounting to ₹1,02,950.00. This was communicated on September 26, 2025.
Reason for Penalty
The penalty was imposed due to discrepancies observed in soiled notes remitted to RBI and miscellaneous reasons. The bank has classified the impact as Not Significant.
Preventive Actions
Union Bank of India has stated that it has taken the necessary preventive measures to avoid any recurrence of such instances in the future.
Source: BSE
