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RBI penalises Yes Bank for non-compliance of instructions related to Swift
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RBI penalises Yes Bank for non-compliance of instructions related to Swift

Agency News

Mumbai, Mar 5 : 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. (UNI)