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.
These deficiencies were observed during the Statutory Inspection for Supervisory Evaluation (SE) with reference to the bank’s financial position as on 31 March 2024.
Separately, YES Bank was fined ₹29.60 lakh for non-compliance with the RBI’s directions on “Financial Statements – Presentation and Disclosures”. The bank did not disclose correct and complete information about customer complaints in its annual financial statements for FY24.
The RBI clarified that these actions are based solely on deficiencies in regulatory compliance and are not intended to question the validity of any transactions or agreements entered into by the banks with their customers.
The penalties are without prejudice to any other regulatory or supervisory action that the RBI may initiate in future.
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