Categories: Banking

RBI slaps Rs 2 crore fine on Deutsche Bank for non-compliance

The Reserve Bank of India has imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits. The central bank said the statutory inspection of Deutsche Bank’s financial position as on March 31, 2019, and the Risk Assessment Report revealed non-compliance with the ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’.

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The action was based on the deficiencies in regulatory compliance and was not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Important takeaways for all competitive exams:

Deutsche Bank CEO: Christian Sewing.
Deutsche Bank Headquarters: Frankfurt, Germany.
Deutsche Bank Founded: 10 March 1870.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.