Sunday, October 18
The Reserve Bank on Friday said it has imposed penalties on Deutsche Bank AG, India and Yes Bank for non-compliance with certain regulatory norms. A penalty of Rs 50 lakh has been imposed on Deutsche Bank AG, India for non-compliance with certain directions on 'Creation of a Central Repository of Large Common Exposures-Across Banks', the RBI said. In another statement, it said a penalty of Rs 29.60 lakh has been imposed on Yes Bank for non-compliance with certain directions issued by RBI on 'Financial Statements Presentation and Disclosures'. In both cases, the RBI said the penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers. Further, imposition of mon
India's economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said. The UN on Thursday launched a report titled 'The World Economic Situation and Prospects as of mid-2025'. "India remains one of the fastest growing large economies, driven by strong private consumption and public investment, even as growth projections have been lowered to 6.3 per cent in 2025," Ingo Pitterle, Senior Economic Affairs Officer, Global Economic Monitoring Branch, Economic Analysis and Policy Division, UN Department of Economic and Social Affairs (DESA), said at a press briefing here. The report said the glob
