Serbian coaches Andreja Milunović and Predrag Katić were banned from all soccer-related activities for two years following their part in the incident, while four players from the Serbian team have been given short-term suspensions.
The Under-21 side will also have to play one game behind closed doors along with the fine, which Ferdinand believes is sending out a weak message on dealing with racism within the game after the alleged abuse of Three Lions left back Danny Rose ignited the incident.
"Uefa are not serious at all on racism. Fines do not work at all. They have zero impact on federations/clubs/fans/players. #fact," Ferdinand wrote on his official Twitter account.
The 34-year-old Ferdinand believes harsher punishments are needed to deter racism from happening in all tiers of the sport and feels the people in charge of European soccer's governing body need educating in the issue.
"Uefa need to talk to this generation.....they don't seem to be up to date on this issue?? Harsh punishments needed as a deterrent #simple," Ferdinand said.