(PTI)
Public sector lender UCO Bank said the Reserve Bank has imposed a penalty of Rs 5 lakh for violating norms on government bond holding. The Reserve Bank of India has imposed a penalty of Rs 5 lakh on UCO Bank for bouncing of SGL forms, the bank said in a regulatory filing. A subsidiary general ledger (SGL) account is maintained with the RBI for holding government securities and treasury bills in paperless form. The account is used for facilitating delivery and payment trades.
