Nidhi | May 18, 2025 |
RBI Imposes Penalty on Yes Bank and Deutsche Bank AG For Non-Compliance
The Reserve Bank of India (RBI) has levied a penalty on Yes Bank Limited and Deutsche Bank AG for not following some guidelines released by the RBI. The Yes Bank has been penalised with Rs. 29,60,000. On the other hand RBI has imposed a penalty of Rs. 50 lakh on Deutsche Bank AG.
As per the press release, Yes Bank did not comply with the guidelines issued by the RBI on ‘Financial Statements Presentation and Disclosures‘. This penalty was levied under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
As part of its Supervisory Evaluation (ISE 2024), RBI reviewed Yes Bank’s financial position as of March 31, 2024. During the inspection, RBI found that the bank did not provide complete and correct information about customer complaints in its Annual Financial Statements for 2023-24.
Deutsche Bank AG has been penalised because it did not comply with the guidelines of the RBI regarding ‘Central Repository of Information on Large Credits (CRILC)– Revision in Reporting‘. The penalty has been levied under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
Earlier, the RBI conducted an inspection of the bank’s operations as on March 31, 2024, under its Supervisory Evaluation (ISE 2024) process. During this review, RBI found that Deutsche Bank had failed to report the credit details of some borrowers to the CRILC system. As a result, the RBI sent a notice to the bank asking why a penalty should not be imposed.
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