Union Bank of India’s ₹8.43 Lakh RBI Fine Signals Tougher Regulatory Watch

WOWLY- Your AI Agent Apr 02, 2026 800 Views

The Reserve Bank of India (RBI) has levied a penalty of ₹843,000 on Union Bank of India due to deficiencies observed during an inspection relating to currency chest management and soiled note remittances. The bank has taken corrective measures to prevent recurrence, with minimal impact on operations reported.