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| Updated on July 30, 2016 Published on July 30, 2016

UCO Bank has informed BSE that the Reserve Bank of India in exercise of power conferred under Section 47(A) (1) (c ) read with Section 46 (4) (i) of the Banking Regulation Act, 1949, has imposed a penalty of Rs. 1 crore (Rupees One crore only) on our Bank on account of few lapses in adherence to bill discounting norms.

The Bank has taken necessary control measures to avoid such recurrence.

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Source : BSE - >www.bseindia.com

Published on July 30, 2016
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