The Reserve Bank of India (RBI) has levied a penalty of ₹1,35,250 on Union Bank of India due to deficiencies observed during an RBI inspection related to currency chests. The bank has stated that it has taken necessary preventive measures to avoid recurrences of similar instances. The information regarding the penalty was disclosed on November 20, 2025.
RBI Penalty Imposed
Union Bank of India has been penalized by the Reserve Bank of India (RBI). The penalty amount is ₹1,35,250 (Rupees One lakh thirty-five thousand two hundred and fifty only). This was announced on November 20, 2025.
Reason for the Penalty
The penalty was imposed due to deficiencies observed during an RBI inspection. These deficiencies were specifically related to Currency -Chests. The announcement does not elaborate on the exact nature of these deficiencies.
Bank’s Response
Union Bank of India has stated that it has taken necessary preventive measures to avoid recurrences of such instances. The bank has not provided further details regarding the measures implemented.
Source: BSE
