RBI Imposes Rs 2.68 Crore Penalty on UCO Bank.

Banking & Finance

The Reserve Bank of India (RBI) has imposed a penalty of Rs 2.68 crore on UCO Bank. The penalty is related to non-compliance with regulatory guidelines and deficiencies in the bank’s operations. This action reflects the RBI's ongoing efforts to ensure adherence to banking norms and maintain financial discipline within the sector. UCO Bank is expected to address the issues highlighted by the RBI and implement corrective measures to prevent such lapses in the future. The RBI’s regulatory framework aims to uphold the integrity and stability of the banking system in India.


      UCO Bank must submit a compliance report to the RBI within 30 days.

      The penalty underscores the RBI's commitment to strict regulatory enforcement.

     

 

     


About UCO Bank,

MD & CEO: Ashwani Kumar
Headquarters: Kolkata
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