Union Bank of India faces FIU-IND penalty

Union Bank of India (BSE:UNIONBANK) announced today that the Financial Intelligence Unit-India (FIU-IND) has levied a penalty of INR 37,00,000.00 on the bank. The penalty relates to discrepancies observed in reporting of suspicious transactions during the period from 2011 to 2014. The bank received the directive on April 15, 2025. Union Bank has stated that it has taken necessary preventive measures to avoid recurrence of such non-compliances, and believes the impact on financial operations of the listed entity is not significant. The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015.