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The Financial Intelligence Unit (FIU) has slapped a ₹37 lakh penalty on Union Bank of India for discrepancies in reporting suspicious transactions for 2011-2014.
In a regulatory filing on Wednesday, Union Bank said it "has taken necessary preventive measures to avoid recurrences of such non-compliances".
Financial Intelligence Unit-India (FIU-IND) in its order dated April 15 imposed a penalty of ₹37 lakh for "discrepancies observed in a matter for the year 2011 to 2014 in reporting of suspicious transaction".
Shares of Union Bank were trading at ₹24.70, up 1.88 per cent over previous close on BSE.
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 "Rs, Rupee, Indian Currency")
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 "Anmol Singh Jaggi, Puneet Singh Jaggi, gensol engineering")
