Union Bank of India has informed the Exchange about General Updates
UNIONBANK · price
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Awaiting price reaction for this filing.
The Reserve Bank of India has imposed a penalty of ₹4,00,000 on Union Bank of India on May 8, 2025. The reason cited was that the bank's ATMs remained out of cash for more than 10 hours in a month, which is a violation of RBI's operational guidelines. The bank has classified the financial impact as 'Not Significant' and stated that it has already taken preventive measures to avoid such instances in the future. The disclosure was made to the exchanges under SEBI's Listing Obligations and Disclosure Requirements (Regulation 30).
The penalty amount is negligible compared to the bank's overall scale and is unlikely to affect the stock price. However, it signals that the RBI is actively monitoring ATM uptime and cash availability compliance across the banking sector.