Mumbai: In yet another setback for Byju’s, its foreign lenders have filed a petition to initiate corporate insolvency resolution proceedings against t.
Taiwan penalized Deutsche Bank AG and three other foreign lenders after a probe into speculation on the surging local currency last year involving grain companies.
Deutsche Bank’s trading approvals for Taiwan dollar deliverable forwards and non-deliverable forwards will be revoked, and it will be banned from engaging in transactions of foreign exchange derivatives for two years, the island’s central bank said in a statement Sunday.
ING Groep NV and Australia & New Zealand Banking Group Ltd. won’t be allowed to engage in Taiwan dollar deliverable forwards and non-deliverable forwards trading for nine months, while Citigroup Inc. is banned from Taiwan dollar deliverable forwards trading for two months, the central bank said. The penalties imposed on the local units will take effect on Monday.