RBI penalises Yes Bank for non-compliance of instructions related to Swift

3/5/2019

Mumbai, 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.