The Reserve Bank of India (RBI) has levied financial penalties on two institutions—Union Bank of India and Transactree Technologies Pvt. Ltd. (operating under the brand Lendbox)—for lapses in regulatory compliance. The Union Bank of India was fined Rs. 63.6 lakh for violations linked to agricultural lending norms and provisions of the Banking Regulation Act, 1949. Separately, Lendbox faced a Rs. 40 lakh penalty for failing to adhere to the RBI’s guidelines governing peer-to-peer lending platforms.