Union Bank of India fined by RBI for regulatory non-compliance

Union Bank of India announced on October 10, 2025, that the Reserve Bank of India (RBI) imposed a penalty of ₹1,07,000. This disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The penalty, received on October 9, 2025, stems from deficiencies observed in several areas, including shortages of notes, issues with mutilated notes, detection of counterfeit notes in soiled note remittances, and non-compliance related to incognito visits. The bank stated that the financial and operational impact of this penalty on the listed entity is "Not Significant."

In response to these findings, Union Bank of India confirmed that it has initiated necessary preventive measures to avoid the recurrence of such instances. The announcement was formally signed by Mangesh Mandrekar, company secretary, on October 10, 2025.