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 imposed a penalty of ₹1,66,868.84 on the bank. The penalty relates to discrepancies observed in soiled note remittance to RBI and ATM cash out operations. The bank received the order on 16 May 2025. The bank has stated the financial impact is 'Not Significant' and that necessary preventive measures have been taken to avoid recurrences.
The penalty amount is very small relative to the bank's size, and management has confirmed the impact is not significant, so this is unlikely to materially affect the stock price or shareholder value.