Yes Bank Limited has received a communication on June 13, 2024, from Reserve Bank of India (RBI) stating that RBI had imposed a monetary penalty of INR 100/- on the Bank for discrepancies observed during processing of Soiled Note Remittances. This penalty has been imposed in accordance with Master Direction DCM (CC) No. G- 3/03.44.01/2023-24 dated April 03, 2023 on "Scheme of Penalties for bank branches including Currency Chests for deficiency in rendering customer service to the members of public" and Master Direction DCM (FNVD)/G-1/16.01.05/2023-24 dated April 03, 2023 on "Counterfeit Notes, 2023- Detection, Reporting and Monitoring".

Name of the authority: Issue Department, Reserve Bank of India. Details of the violation(s)/contravention(s) committed or alleged to be committed: Non-compliance with RBI requirement for discrepancies observed during processing of Soiled Note Remittances.