AnyTime News 
Anytime News Network | Pooja Srivastava
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹38.60 lakh on UCO Bank for non-compliance with certain regulatory directions. The order, dated February 16, 2026, relates to violations concerning periodic payment of interest on savings deposits, locker rent refunds, and credit information reporting for Self Help Group (SHG) members.
The penalty follows the Statutory Inspection for Supervisory Evaluation (ISE 2025) conducted with reference to the bank’s financial position as of March 31, 2025. RBI found that the bank failed to pay interest on certain savings accounts, did not report SHG member-level credit data to Credit Information Companies, and did not refund proportionate advance locker rent in cases of premature surrender.
RBI clarified that the action is based on regulatory compliance deficiencies and does not affect the validity of transactions between the bank and its customers.
