RBI penalizes Deutsche Bank and Yes Bank for non-compliance with norms

RBI Penalizes Deutsche Bank And Yes Bank For Non-Compliance With Norms

The fees are without prejudice to any other action initiated by the regulator against the entities

The Reserve Bank of India (RBI) has imposed Rs.50 lakh on Deutsche Bank AG India and Rs.29.60 lakh on Yes Bank for regulatory gaps.

While Deutsche Bank failed to follow rules on 'Creation of a Central Repository of Large Common Exposures-Across Banks', Yes Bank did not comply with 'Financial Statements Presentation and Disclosures' rules.

The penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.

The fees are without prejudice to any other action that may be initiated by the RBI against the banks.