RBI Fines YES Bank and Hinduja Housing Finance
Sure! Here’s a rewritten version of the content: MUMBAI: The Reserve Bank of India (RBI) has imposed a penalty of ₹31.80 lakh on YES Bank for failing to comply with ‘Know Your Customer’ (KYC) regulations. The RBI noted that YES Bank did not establish a system to utilize the KYC Identifier assigned by the Central KYC Records Registry for creating account-based relationships with customers. Previously, the RBI conducted a statutory inspection of the bank to evaluate its financial status as of March 31, 2025. Additionally, a fine of ₹1.8 lakh was imposed on Hinduja Housing Finance Ltd for non-compliance with…