RBI Imposed A Fine Of Rs 2 Crore On Deutsche Bank
RBI imposed a fine of Rs 2 crore on Deutsche Bank, case of non-compliance of interest rate on deposits The RBI has imposed a penalty of Rs 2 crore on Deutsche Bank AG.
The Central Bank has imposed this penalty for violating certain provisions of its instructions on the interest rate on deposits. The Reserve Bank has issued a notice to the bank.
In fact, after looking at the financial position and risk assessment report of Deutsche Bank on 31 March 2019, it was revealed that the interest rate directive on Reserve Bank deposits 2016 was not complied with, the central bank reported this.
The apex bank issued a notice to the bank stating why it should not be fined for not following the instructions.
After the investigation, the bank’s reply to the notice and in-person oral hearing revealed that the Reserve Bank will impose a monetary penalty on the charges of not following the above instructions. Subsequently, the Reserve Bank imposed a fine of Rs 2 crore on Deutsche Bank AG.
It is worth noting that the Central Bank has recently canceled the license of Vasantdada Nagari Cooperative Bank located in Osmanabad, Maharashtra. After this, the bank will not be able to return the depositors’ entire money according to their current financial situation.
The license of the co-operative bank will be deemed canceled after the business ends. After this, the cooperative bank will not be able to operate. On this matter, the Reserve Bank said on returning the depositors’ money, that the process of returning the money will start with the process of liquidation.
After this, the depositor will be allowed to withdraw up to five lakh rupees from the Credit Guarantee Corporation. Then more than 99 percent of depositors will be able to withdraw the entire amount.
The government is giving a chance to win Rs 5 crore, will have to give information about illegal foreign money and benami property If you have information about an illegal property, Benami property, or tax evasion of a person or company abroad, then you can send the information to the government.
The Income Tax Department has introduced a new ‘online’ facility for this. The Central Board of Direct Taxes (CBDT) gave this information on Tuesday.
The person giving information will also get a reward. As per the scheme in force at present, there is a provision to award up to one crore rupees in the case of Benami property and up to five crore rupees in the case of tax evasion, including keeping black money abroad
