Union Bank of India has informed the Exchange about Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015, as amended.
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Union Bank of India has disclosed that the Reserve Bank of India has levied a penalty of ₹95.40 lakh (Rupees Ninety Five Lakh Forty Thousand only) on the bank, with the order dated March 27, 2026. The violations relate to failure to comply with RBI directions on (i) limiting customer liability in unauthorised electronic banking transactions, including delays beyond 10 working days in crediting amounts via shadow reversal and not providing a direct link on the website to report such transactions, and (ii) Income Recognition, Asset Classification and provisioning norms. The bank has stated that the financial impact is 'not significant' and that it has taken preventive measures to avoid recurrence.
The penalty amount is small relative to the bank's overall size and the bank itself classifies the impact as not significant, so the direct financial hit on shareholders is minimal. However, the disclosure highlights operational and compliance gaps in digital banking processes and asset classification that investors should monitor for any follow-up action or reputational concern.