A protective and monitoring apparatus for monitoring and reducing shaft currents and shaft voltages on the generator shaft of a generator which produces electrical power, which protective and monitoring device is connected between a contact apparatus, which makes contact with the generator shaft, and a grounding connection and comprises a parallel circuit formed by a resistance and a capacitance, with one end of the parallel circuit being connected to the contact apparatus and its other end being connected to the grounding connection, wherein means are provided for bridging the parallel circuit when an overvoltage occurs.