Separately, RBI also imposed a Rs2 crore penalty on IDFC Bank Ltd for breaching regulations on giving loans. RBI’s bad loan assessment was 558% more than what Yes Bank had reported. RBI also said Yes Bank failed to report a cyber-security attack on its ATM network within the prescribed timeframe. Phone calls to a Yes Bank spokesperson had not elicited a response at the time of going to press. In the case of IDFC Bank, RBI said the bank failed to comply with the regulations pertainting to sanction/renewal of loans and advances.

Source: Mint October 24, 2017 14:48 UTC