Union Bank of India Fined ₹1.28 Lakh by RBI for Currency Note Violations
Union Bank of India fined ₹1.28 lakh by RBI for deficiencies in handling currency notes and shortages in currency chest balances. The bank stated the impact is not significant and has taken preventive measures.
The penalty amount is very small relative to the bank's size and operations, and the bank has indicated no significant impact.
The penalty is a routine regulatory action and the bank has indicated it's not significant and has taken corrective actions.
Union Bank of India has been penalized by the Reserve Bank of India (RBI) with a fine of ₹1,28,750. This action follows an RBI inspection that identified deficiencies related to the detection of counterfeit and mutilated currency notes, and shortages in currency chest balances.
The penalty was communicated to the bank on June 9, 2026, with the official order received on the same date. The bank has stated that the impact of this penalty on its financial or operational activities is not significant.
Union Bank of India has assured that necessary preventive measures have been implemented to avoid any recurrence of such instances. The disclosure has been made in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015.
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Union Bank of India 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 Union Bank of India. Read the original for the full detail.