RBI Fines Deutsche Bank & Yes Bank for Regulatory Violations

Mumbai, May 16 (PTI) The Reserve Bank on Friday said it has imposed penalties on Deutsche Bank AG, India and Yes Bank for non-compliance with certain regulatory norms.

A penalty of Rs 50 lakh has been imposed on Deutsche Bank AG, India for non-compliance with certain directions on 'Creation of a Central Repository of Large Common Exposures-Across Banks', the RBI said.


In another statement, it said a penalty of Rs 29.60 lakh has been imposed on Yes Bank for non-compliance with certain directions issued by RBI on 'Financial Statements Presentation and Disclosures'.

In both cases, the RBI said 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.

Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the banks, it added.