RBI imposes penalty on Yes Bank for violating PPI norms

The Reserve Bank of India (RBI) has imposed a penalty on prepaid payment instrument (PPI) issuer Yes Bank for non-compliance with regulatory norms. A penalty of Rs 11.25 lakh has been imposed on the Bank.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.