RBI imposes Rs 1 crore penalty on Union Bank of India for non-compliance with certain provisions of its directions
New Delhi [India], November 29 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on the Union Bank of India (UBI) for non-compliance with certain provisions of its directions relating to fraud classification and reporting and sale of stressed assets.
According to a statement issued by the RBI on November 25, it has imposed a monetary penalty of Rs 1 Crore on Union Bank of India (the bank)