RBI fines YES Bank ₹31.8L, Hinduja Housing Finance ₹1.8L
Business
The Reserve Bank of India just handed out fines to YES Bank (₹31.8 lakh) and Hinduja Housing Finance (₹1.8 lakh) for not following its regulations.
YES Bank slipped up by skipping required KYC identifiers when opening new accounts, while Hinduja Housing Finance got flagged for not meeting governance standards.
RBI flags KYC and governance lapses
RBI's inspection found that YES Bank wasn't fully following Know Your Customer (KYC) rules as of March 2025, which are meant to keep banking safe and transparent.
Hinduja Housing Finance's penalty was about not sticking to the RBI's governance guidelines.
These actions show RBI is serious about keeping banks and finance companies in check: no shortcuts allowed.