Yes Bank Limited has received a communication on March 22, 2024, from Reserve Bank of India (RBI) stating that RBI had imposed a monetary penalty of INR 2,450 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 and Currency Chests for deficiency in rendering customer service to the members of public" and Master Circular dated April 03, 2023 on "Detection and Impounding of Counterfeit Notes".