The Reserve Bank of India (RBI) has imposed a penalty of Rs 31.80 lakh on Yes Bank for non-compliance with certain provisions on 'Know Your Customer'.

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 31 March 2025.

In another statement, the RBI 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'.