RBI imposes monetary penalty on Bank of India and Union Bank of India

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