RBI Sends a Wake-Up Call: Union Bank Faces Penalty for Compliance Lapses

Unknown Apr 02, 2026 600 Views

Union Bank of India has come under regulatory scrutiny as the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.06 crore for non-compliance with critical banking norms. The penalty was levied following findings related to lapses in the bank’s adherence to RBI’s directiv...