RBI imposes monetary penalty on Union Bank of India, worth Rs 1.20 lakh

Psu Connect Date: 22-04-25

As per the bank's statement, the reason for the penalty is Deficiencies in soiled note remittance to RBI and another deficiency observed on the Currency Chest.

The Reserve Bank of India has levied a penalty of Rs 1,20,000.00 (Rupees One lakh twenty thousand only).

According to the filing made, this is to inform that the Reserve Bank of India has imposed a penalty of Rs 1,20,000.00 (Rupees One lakh twenty thousand only).

Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel

Read Also : BEML at IREE 2025 | Showcasing the Future of Indian Railways

As per the bank's statement, the reason for the penalty is Deficiencies in soiled note remittance to RBI and another deficiency observed on the Currency Chest.

Meanwhile, the Bank has taken necessary preventive measures to avoid recurrences of such non- compliances.

Read Also : 54th Zonal Mine Rescue Competition Concludes at Mansar Mine, MOIL India

Note*: All the articles and given information on this page are information based and provided by other sources . For more read Terms & Conditions