RBI Penalties: YES Bank & Hinduja Housing

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May 08, 2026 19:46

RBI imposes penalties on YES Bank for KYC non-compliance and Hinduja Housing Finance for governance issues. Find details here.

RBI Penalties: YES Bank & Hinduja Housing

Photograph: Dannish Siddiqui/Reuters

Mumbai, May 8 (PTI) A penalty of Rs 31.80 lakh has been imposed on YES Bank for non-compliance with certain provisions on 'Know Your Customer', the Reserve Bank of India (RBI) said on Friday.

The RBI said the bank failed to put in place a system of using KYC Identifier assigned by Central KYC Records Registry for the purpose of establishing an account-based relationship with customers.

Earlier, a statutory inspection for supervisory evaluation of the bank was conducted by the RBI with reference to its financial position as on March 31, 2025.

In another statement, it said a penalty of Rs 1.8 lakh has been imposed on Hinduja Housing Finance Ltd for non-compliance with certain directions issued by RBI, relating to 'governance'.

Source: PTI By Rediff Money Desk, Mumbai

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