India, March 27 -- The Reserve Bank of India (RBI) has, by an order dated March 23, 2026, imposed a monetary penalty of ?95.40 lakh (Rupees Ninety Five Lakh Forty Thousand only) on Union Bank of India (the bank) for non-compliance with certain directions issued by RBI on 'Limiting Liability of Customers in Unauthorised Electronic Banking Transactions', and 'Automation of Income Recognition, Asset Classification and Provisioning processes'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.The Statutory Inspection for Supervisory Evaluation of the bank was conducted by RBI with reference to its financial pos...