OPEN APP
Home >Industry >Banking >Sebi imposes Rs2 lakh penalty on United Bank
The first notice to the bank in this case was sent on 27 February. Photo: Indranil Bhoumik/Mint
The first notice to the bank in this case was sent on 27 February. Photo: Indranil Bhoumik/Mint

Sebi imposes Rs2 lakh penalty on United Bank

United Bank of India has been fined for breaching certain regulations, including acting as a debenture trustee to one of its borrowers

Mumbai: Securities and Exchange Board of India (Sebi) on Thursday imposed a 2 lakh penalty on Kolkata-based United Bank of India (UBI) for breaching certain regulations, including acting as a debenture trustee to one of its borrowers.

In a 12-page order released on its website, the stock market regulator said the fine was because of “certain deficiencies" in the functioning of UBI. The first notice to the bank in this case was sent on 27 February.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My Reads Redeem a Gift Card Logout