RBI penalises Deutsche Bank, YES Bank for breaching compliance norms

Deutsche Bank and YES Bank fined ₹50 lakh and ₹29.6 lakh respectively for violating RBI directions on credit reporting and disclosure of customer complaints The Reserve Bank of India (RBI) has impose

A penalty of ₹50 lakh was levied on Deutsche Bank for violating RBI directives on the ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ and the ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’. The bank failed to report credit information of certain borrowers to the CRILC.