The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹50 lakh (Rupees Fifty Lakh only) on Deutsche Bank AG, India for non-compliance with certain directions issued by RBI on Creation of a Central Repository of Large Common Exposures - Across Banks read with Central Repository of lnformation on Large Credits (CRlLC) – Revision in Reporting.
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| RBI Imposes Rs 50 Lakh Penalty on Deutsche Bank AG, India |
RBI Imposes ₹50 Lakh Penalty on Deutsche Bank AG, India
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹50 lakh on Deutsche Bank AG, India for non-compliance with certain directions issued by RBI on Creation of a Central Repository of Large Common Exposures - Across Banks read with Central Repository of lnformation on Large Credits (CRlLC) – Revision in Reporting.
This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
Apart from this, the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹29.60 lakh on YES BANK.
RBI Imposes Penalty on Deutsche Bank AG, India: Background
The Statutory Inspection for Supervisory Evaluation (ISE 2024) of the bank was conducted by RBI with reference to its financial position as on March 31, 2024.
RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:
- The bank (Deutsche Bank AG, India) did not report credit information of certain borrowers to the Central Repository of Information on Large Credits (CRILC).
The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.
About Deutsche Bank
Deutsche Bank is a leading global investment bank. A leader in Germany and Europe, the Bank is continuously growing in North America and Asia. With more than 90,130 employees in over 57 countries worldwide.
Deutsche Bank in India is a fully integrated financial services provider to Indian corporate, institutional and individual clients.
Deutsche Bank AG India provides services including on-shore investment banking, institutional equities broking, asset and private wealth management, retail banking and business processes outsourcing.
Reserve Bank of India (RBI)
The Reserve Bank of India was established on April 1, 1935 according to the provisions of the Reserve Bank of India Act, 1934. The headquarters of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
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Initially the bank was privately owned, but since nationalization in 1949 it is fully owned by the Government of India.
Governor of RBI
The current Governor of the Reserve Bank of India is Sanjay Malhotra. He replaced Shaktikanta Das as the governor.
Deputy Governor of RBI
The 4 Deputy Governors are appointed in the Reserve Bank of India (RBI), who are as follows.
- M. Rajeshwar Rao
- T. Rabi Sankar
- Swaminathan J
- Dr Poonam Gupta
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Static Current Affairs related to RBI for upcoming exams
- Establishment: 1 April 1935
- Headquarters: Mumbai, Maharashtra
- Governor: Sanjay Malhotra
- Deputy Governor: Swaminathan J, M. Rajeshwar Rao, T. Rabi Sankar and Poonam Gupta
- Ownership: Ministry of Finance , Government of India
Static Current Affairs related to Deutsche Bank for upcoming exams
- Formation: 10 March 1870
- Founders: Ludwig Bamberger; Adelbert Delbrück
- Headquarters: Frankfurt, Germany
- Chief Executive Officer (CEO): Christian Sewing
- Chairman of Supervisory Board: Alexander Wynaendts
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