The Reserve Bank of India (RBI) has imposed penalties on Yes Bank and ICICI Bank for failing to comply with regulatory guidelines. Yes Bank was fined Rs 91 lakh for charging customers fees on zero or insufficient balance savings accounts and for unauthorized use of internal accounts. ICICI Bank faced a Rs 1 crore penalty for sanctioning loans without proper due diligence, substituting budgetary resources for project funding. These violations were identified during the RBI's FY22 inspection, prompting the regulator to issue these penalties after seeking the banks' responses.