RBI penalises Deutsche Bank, J&K Bank for flouting norms
The Reserve Bank of India on Wednesday said it has imposed penalties on Deutsche Bank A.G. of Germany and The Jammu & Kashmir Bank Ltd for violating varous norms.
The RBI action has been taken under relevant sections of the Banking Regulation Act, 1949, taking into account the failure of both banks to adhere to the apex bank's directions. Image courtesy: Reuters