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)
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