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The Reserve Bank of India (RBI) has imposed a monetary penalty on two large public sector banks – the Bank of India and the Union Bank of India.
The Reserve Bank of India has imposed a penalty of ₹1,35,250.00 (Rupees One lakh thirty-five thousand two hundred and fifty only) on Union Bank of India. The penalty has been imposed due to Deficiency observed during RBI inspection in Currency Chests.
| Name of the authority | Reserve Bank of India |
|---|---|
| Nature and details of the action(s) taken, or order(s) passed | Reserve Bank of India levied penalty of ₹1,35,250.00 (Rupees One lakh thirty-five thousand two hundred and fifty only) |
| Date of receipt of direction or order | 19.11.2025 |
| Details of the violation(s) | Deficiency observed during RBI inspection in Currency Chests |
| Impact on financial/other activities | Not Significant |
The Reserve Bank of India has imposed a penalty of ₹1,00,000.00 (Rupees One lakh only) on Bank of India. The penalty has been imposed due to Shortage of notes detected in soiled note remittance of Chandrapur currency chest.
| Name of the regulatory authority | Reserve Bank of India |
|---|---|
| Nature and details of action(s) taken | Monetary penalty of Rs. 1,00,000 (Rupees One Lakh Only) imposed |
| Date of receipt of direction/order | 20.11.2025 |
| Details of violation(s) | Shortage of notes detected in soiled note remittance of Chandrapur currency chest |
| Impact on financial/operations | The monetary penalty imposed by RBI has no material impact on financial operations or activities of the Bank |
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