RBI Imposes 6 Crore Monentary Penalty on YES Bank and 2 Crore Penalty on IDFC Bank
IDFC Bank
A monetary penalty of ₹ 20 million on IDFC Bank Limited (the bank) for contravention of regulatory restrictions pertaining to loans and advances
YES Bank Ltd.
A monetary penalty of ₹ 60 million on Yes Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition Asset Classification (IRAC) norms and delayed reporting of information security incident involving ATMs of the bank.
This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949,
Jose J. Kattoor
Chief General Manager
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