UCO Bank penalized ₹38.60 lakh by RBI for non-compliance
UCO Bank has been fined ₹38.60 lakh by the RBI. The penalty is for non-compliance with RBI directions on savings deposit interest, locker rent, and SHG credit reporting. The bank has implemented corrective actions.
The penalty amount of ₹38.60 lakh is considered non-material for a bank of UCO Bank's size, and the bank has indicated that the financial implications are not significant.
The bank has received a monetary penalty from the central bank, which is a negative development.
UCO Bank has disclosed that the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹38.60 lakh on the bank.
This penalty is for non-compliance with certain provisions of directions issued by RBI concerning the periodicity of interest payment on savings deposits, locker rent, and credit information reporting for Self Help Group (SHG) members. The non-compliance was identified during the Statutory Inspection for Supervisory Evaluation (ISE 2025) conducted by RBI, with reference to the bank's financial position as of March 31, 2025.
The bank has stated that the expected financial implications are non-material. UCO Bank has taken necessary preventive actions to strengthen its internal processes and prevent recurrence of such events.
What to do with a filing like this
UCO Bank filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by UCO Bank. Read the original for the full detail.