Yes Bank

Yes Bank is confronting customer concerns following reports of unauthorised transactions on its forex card platform. The issue has reignited debate around cybersecurity safeguards, fraud detection systems and consumer protection protocols in India’s digital banking ecosystem. Affected customers have flagged suspicious overseas transactions, prompting the bank to initiate internal reviews and reinforce monitoring mechanisms. While no systemic breach has been officially confirmed, the episode underscores the operational risks associated with cross-border prepaid instruments.

YES Bank reported a strong financial turnaround in the third quarter, with net profit rising 55 percent year on year, driven largely by a sharp reduction in provisioning costs and steady core income growth. The improved performance reflected progress in asset quality, disciplined balance-sheet management, and stable lending activity. While revenue growth remained measured, the decline in credit costs significantly boosted the bottom line.

Yes Bank reported an 18.3% year-on-year increase in net profit for the second quarter of FY2024–25, reaching Rs. 654 crore, driven by robust growth in retail and SME lending, improved asset quality, and disciplined cost management. The private sector lender’s net interest income (NII) and fee-based income strengthened, reflecting increased customer engagement and expanded loan portfolios. Proactive provisioning and a focus on digital banking initiatives supported operational efficiency.