RBI Penalties: Deutsche and Yes Bank Fined for Regulatory Lapses
The Reserve Bank of India (RBI) has fined Deutsche Bank AG, India, and Yes Bank due to non-compliance with specific regulatory directives. Deutsche Bank faces a penalty of Rs 50 lakh, while Yes Bank has been fined Rs 29.60 lakh. The penalties address deficiencies in regulatory compliance but do not affect the validity of any bank transactions or agreements.
- Country:
- India
The Reserve Bank of India has sanctioned penalties against Deutsche Bank AG, India, and Yes Bank for failure to comply with regulatory guidelines.
Deutsche Bank's penalty of Rs 50 lakh results from non-adherence to directives concerning a 'Central Repository of Large Common Exposures-Across Banks', according to the RBI.
Meanwhile, Yes Bank has been fined Rs 29.60 lakh for breaching RBI's instructions on 'Financial Statements Presentation and Disclosures', as specified in another statement by the bank.
The RBI clarified that these penalties reflect lapses in regulatory adherence and do not call into question the legality of any transactions or agreements the banks have executed with their clients.
Moreover, these penalties are administered without prejudice to any further actions the RBI might pursue.
(With inputs from agencies.)
Google News