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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-APR-2026

NATIONALISED BANKS: RESORTED TO MANUAL INTERVENTION IN THE SYSTEM-BASED ASSET CLASSIFICATION PROCESS IN CERTAIN KISAN CREDIT CARD (KCC) ACCOUNTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person UNION BANK OF INDIA
  DID NOT CREDIT (SHADOW REVERSAL) THE AMOUNT INVOLVED IN UNAUTHORISED ELECTRONIC TRANSACTIONS TO CERTAIN CUSTOMER ACCOUNTS WITHIN TEN WORKING DAYS FROM THE DATE OF NOTIFICATION BY THE CUSTOMER

DID NOT PROVIDE 24X7 ACCESS THROUGH MULTIPLE CHANNELS TO REPORT UNAUTHORISED ELECTRONIC TRANSACTIONS THAT HAD TAKEN PLACE AND/OR LOSS OR THEFT OF PAYMENT INSTRUMENT SUCH AS CARD ETC.

RESORTED TO MANUAL INTERVENTION IN THE SYSTEM-BASED ASSET CLASSIFICATION PROCESS IN CERTAIN KISAN CREDIT CARD (KCC) ACCOUNTS   		IMPOSED PENALTY RS.95,40,000 FROM 23-MAR-2026

23-MAR-2026 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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