RBI imposes penalty of ₹8.43 lakh on Union Bank over soiled notes
The RBI imposed a penalty of ₹8,43,000 on Union Bank of India, Financial Express reported. In an exchange filing, the bank disclosed that the penalty is levied for deficiencies observed in soiled notes remittances made to the RBI and for ATM cash-outs. There will be no significant impact on the bank's financial, operational, or other activities due to the penalty.