India, May 8 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 31.80 lakh on Yes Bank Limited for non-compliance with certain Know Your Customer (KYC) directions issued by the central bank.
The penalty was imposed through an order dated April 27, 2026, following the Statutory Inspection for Supervisory Evaluation conducted by RBI based on the bank's financial position as of March 31, 2025.
According to RBI, the bank failed to implement a system for using the KYC Identifier assigned by the Central KYC Records Registry (CKYCR) while establishing account-based relationships with customers.
The regulator stated that the action was taken due to deficiencies in statutory and regulatory compliance and does not impact the v...