RBI Cracks Down on Union Bank & Lendbox Why Were They Fined?

Union Bank Fined

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Reason 1: Inactive Funds

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Collateral Taken on Small Agri Loans

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Lendbox Also Fined

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P2P Violations

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Why It Matters

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RBI’s Message

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For the Public

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The Bottom Line

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RBI Cracks Down on Union Bank & Lendbox Why Were They Fined?

Union Bank Fined

₹63.6 Lakh Penalty to Union Bank

Reason 1: Inactive Funds

Delayed Transfer to RBI’s DEAF Fund

Collateral Taken on Small Agri Loans

Reason 2: Agri Loan Violation

Lendbox Also Fined

₹40 Lakh Penalty to Lendbox

P2P Violations

Funds Misrouted & Poor Transparency

Why It Matters

Your Data. Your Money. Your Rights.

RBI’s Message

Regulations Apply to All

For the Public

RBI is Watching to Protect You

The Bottom Line

Follow Rules — Or Pay the Price