The Reserve Bank of India (RBI) has imposed monetary penalties on two major banks – Deutsche Bank AG, India, and Yes Bank Limited – for violations of regulatory norms.

Deutsche Bank AG has been penalised 50 lakh rupees for non-compliance with RBI directions regarding 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. RBI found that Deutsche Bank had failed to report credit information of certain borrowers to the CRILC system. After considering the bank’s reply and submissions during a personal hearing, RBI determined that the violation warranted a monetary penalty.

In a separate order, RBI imposed a penalty of 29.60 lakh rupees on Yes Bank Limited for failing to comply with directions on financial statements presentation and disclosures. RBI noted that the bank did not provide correct and complete information regarding customer complaints in its Annual Financial Statements for the year 2023-24. This action was also taken under the same provisions of the Banking Regulation Act.

The RBI clarified that both actions are based solely on deficiencies in regulatory compliance and are not intended to question the validity of any customer-related transactions or agreements.