Categories: Business

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms. RBI imposes fine of five lakh rupees on UCO bank

Photo: INDIA TV

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms

New Delhi. Public sector UCO Bank said on Thursday that the Reserve Bank of India has imposed a fine of Rs five lakh on it for violating government bond holding norms. The bank told the stock market that the Reserve Bank of India imposed a fine of Rs five lakh on UCO Bank due to SGL farms bouncing. RBI has to maintain a subsidiary general bookkeeping (SGL) to keep government securities and challan bills in paperless form. This account is used for trading supplies and payments.

This post was published on May 14, 2020 3:51 pm

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