Yes Bank faces RBI action for breach of confidentiality

The RBI has now warned Yes Bank of regulatory action for disclosing the ‘nil (NPA) divergence report’, which was a violation of the confidentiality clause, the private bank told the bourses on Friday night. In banking parlance, divergence refers to the difference between what the bank quotes in its annual report and what RBI’s inspection report of the same bank’s books shows.

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