Banking regulator cracks down on Yes Bank
Banking regulator cracks down on Yes Bank

Yes Bank fined for non-compliance in Swift operations

ANI | Updated: Mar 05, 2019 14:31 IST

Mumbai (Maharashtra) [India], Mar 5 (ANI): The Reserve Bank of India (RBI) has imposed a fine of Rs 1 crore on Yes Bank for non-compliance of directions on Swift messaging software.
"The RBI has levied an aggregate penalty of Rs 10 million on the bank for non-compliance of regulatory directions observed during assessment of implementation of SWIFT-related operational controls," Yes Bank informed stock exchanges in regulatory filings on Tuesday.
On Monday, the banking regulator had imposed a total fine of Rs 8 crore on three banks -- Karnataka Bank Ltd, United Bank of India and Karur Vysya Bank Ltd -- for non-compliance of directions on Swift messaging software.
Last week too, four banks -- State Bank of India, Union Bank of India, Dena Bank and IDBI Bank Ltd -- had informed exchanges about penalties imposed on them for non-compliance with various directions. (ANI)

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