This bank is on the radar of the RBI, can be charged with heavy fine

Published On: 19, Feb 2019 | Source:

New Delhi| A bank has come to the Reserve Bank of India (RBI) radar, which can result in charge of heavy fines. The Reserve Bank of India (RBI) may penalize the bank for violating privacy standards. RBI may penalize YES Bank for violating privacy standards of exchange of information with private banks. According to the news, the RBI considers it market-centric information.

According to sources, it is similar to the penalty imposed on regulatory flaws by the government and private banks. After this decision of Reserve Bank, YES Bank had to disclose the central bank's warning, due to which the bank's shares declined by 1.72 percent to Rs 217.45. On February 14 (Thursday), the share of the bank rose by 31 percent, as Yes Bank disclosed the reserve estimation in its solution to change the NPA.

Let us know in detail that YES Bank has made public with its information public with the RBI, in which it said that the central bank did not make any changes in the non-executed assets in 2017-18. For the first time, the central bank told Yes Bank that risk assessment report is a confidential document. Recently, the Reserve Bank imposed a fine of Rs 5 crore on four public sector banks.

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