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RBI Imposes Rs 1 91-Crore Penalties on Yes Bank, ICICI Bank For Non-Compliance With Norms

The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on ICICI Bank, and Rs 91 lakh on Yes Bank for non-compliance with norms

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RBI slaps fine of Rs 1 crore on ICICI Bank, Rs 91 lakhs on Yes Bank for non-compliance

The central bank's inspection of ICICI Bank for the financial year 2022 revealed that the bank had granted term loans to certain entities as replacements for budgetary resources allocated for certain projects. Meanwhile, for Yes Bank it found out that the bank was breaching regulations concerning 'Customer Service in Banks' and 'Un-Authorised Operation of Internal/Office Accounts.

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RBI imposes ₹1-crore penalty on ICICI Bank, fines YES Bank ₹91 lakh

RBI imposes ₹1-crore penalty on ICICI Bank, fines YES Bank ₹91 lakh
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