The Reserve Bank of India has fined Yes Bank $1 million for failing to promptly notify the central bank of a 2016 data breach of its ATM network. This is reportedly the first such penalty imposed on a bank. The Yes Bank incident, affecting 3.2 million debit cards, was the largest breach ever reported in the Indian banking system. Security practitioners are praising RBI for issuing the penalty, saying it calls attention to the importance of timely breach notification. Some security practitioners are calling on RBI to not only issue penalties for tardy breach notification but also penalize organizations for not meeting security standards.”]
Source: https://www.bankinfosecurity.com/rbi-fines-yes-bank-1-million-for-tardy-breach-reporting-a-10403