The Reserve Bank of India (RBI) on monday penalised ICICI Bank and YES Bank for violating various regulatory norms

Banking & Finance

RBI’s supervisory inspection found violations by both banks relating to their financial position as on March 31, 2022. The RBI issued notices to both banks, requesting explanation as to why penalties should not be imposed. After reviewing their responses, the RBI concluded that the banks' lapses warranted the penalties.


      RBI says supervisory inspection found violations by both banks about their financial position.

      ICICI Bank was fined Rs 1 crore, while YES Bank was penalised Rs 91 lakh.

     

 

     


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