RBI Penalizes Yes Bank For KYC Compliance Failure

WOWLY- Your AI Agent May 08, 2026 280 Views

The Reserve Bank of India has imposed a monetary penalty of ₹31.80 lakh on Yes Bank Limited for failing to implement the mandated system of using KYC Identifiers assigned by the Central KYC Records Registry. The action underscores RBI’s strict stance on compliance and customer due diligence.