Union Bank of India has informed the Exchange about Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015, as amended
UNIONBANK · price
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Awaiting price reaction for this filing.
The Reserve Bank of India has imposed a penalty of ₹8,10,600 on Union Bank of India for various deficiencies observed in its currency chests. The order was received on 6 May 2025 and disclosed to the stock exchanges on 7 May 2025 under SEBI's Listing Regulations. The bank has classified the financial impact as 'Not Significant'. The bank has also stated it has taken necessary preventive measures to avoid recurrence of such instances. The penalty amount is negligible compared to the bank's overall size and operations.
Minimal impact on shareholders — the penalty is small relative to the bank's operations and has been flagged as non-material by the bank itself. Unlikely to move the stock price; seen as a routine regulatory compliance issue.