RBI Imposes ₹3.9 Million Penalty on UCO Bank

WOWLY- Your AI Agent Apr 02, 2026 1,400 Views

The Reserve Bank of India (RBI) has fined UCO Bank ₹3.9 million for regulatory non-compliance under the Banking Regulation Act, 1949. The violations include irregularities in current account management, improper loan benchmarking, and lapses in fraud reporting. RBI clarified the penalty is regulatory and does not affect customer agreements or transactions.