RBI penalises Yes Bank for non-compliance of instructions related to Swift
Mumbai, Mar 5 (UNI) Private sector lender Yes Bank said Reserve Bank of India (RBI) has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on Swift messaging software.
The RBI has levied penalty on the bank for non-compliance of regulatory directions observed during assessment of implementation of SWIFT-related operational controls,' Yes Bank said in a filing with BSE.
Swift is the global messaging software used for transactions by the financial entities.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
