Union Bank of India Fined ₹3.08 Lakh by RBI for Currency Note Violations
Union Bank of India received a penalty of ₹3.08 lakh from the Reserve Bank of India. The penalty is for issues related to counterfeit, mutilated currency notes, and currency shortages found during an RBI inspection. The bank has assured that the impact is not significant and preventive measures are in place.
The penalty amount is small relative to the bank's size, and the bank itself stated the impact is not significant.
The company received a penalty from a regulatory authority, which is a negative event.
Union Bank of India has been penalized ₹3,08,795 by the Reserve Bank of India (RBI) for violations detected during an RBI inspection. The penalty pertains to the detection of counterfeit and mutilated currency notes, and shortages of currency. The RBI communicated this order on August 17, 2026.
The bank has stated that the impact of this penalty on its financial, operational, or other activities is not significant. Union Bank of India has also confirmed that necessary preventive measures have been implemented to prevent any recurrence of such instances. The disclosure was 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.