SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-NOV-2025

NBFC: IMPOSED PENALTY

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
21	DHANI LOANS & SERVICES LTD.		ALLOWED OPERATIONS AND DID NOT CLOSE SEVERAL ACCOUNTS OPEN USING OTP BASED E-KYC IN NON-FACE-TO-FACE MODE, EVEN AFTER EXPIRY OF ONE YEAR WITHOUT CONDUCTING CUSTOMER DUE DILIGENCE PROCEDURE	IMPOSED PENALTY RS.7,60,000 FROM 06-JUL-2022 06-JUL-2022
22	EARLY SALARY SERVICES PVT.LTD.		DID NOT PUT IN PLACE SYSTEM OF INTERNAL AUDIT OF ALL OUTSOURCED ACTIVITIES	IMPOSED PENALTY RS.3,20,000 FROM 15-SEP-2023 15-SEP-2023
23	ECL FINANCE LTD.		DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.4,90,000 FROM 04-DEC-2023 04-DEC-2023
24	EKO INDIA FINANCIAL SERVICES PVT.LTD.		DID NOT ADHERE TO INSTRUCTIONS OF RBI AND REPORTED WRONGLY	IMPOSED PENALTY RS.5,00,000 FROM 21-MAR-2017 21-MAR-2017
25	ESAF SMALL FINANCE BANK LTD.		ALLOWED BASIC SAVINGS BANK DEPOSIT (BSBD) ACCOUNT HOLDERS TO OPEN SAVINGS BANK DEPOSIT ACCOUNT DID NOT CLOSE SAVINGS BANK DEPOSIT ACCOUNTS WITHIN THIRTY DAYS FROM THE DATE OF OPENING OF BASIC SAVINGS BANK DEPOSIT (BSBD) ACCOUNTS	IMPOSED PENALTY RS.29,55,000 FROM 05-JAN-2024 05-JAN-2024
26	EXCELLENT CO-OPERATIVE BANK LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE UNCLAIMED FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND WITHIN PRESCRIBED PERIOD	IMPOSED PENALTY RS.1,00,000 FROM 07-MAR-2024 07-MAR-2024
27	FAIRASSETS TECHNOLOGIES INDIA PVT.LTD.		DISBURSED LOANS TO INDIVIDUAL BORROWERS WITHOUT SPECIFIC APPROVAL OF INDIVIDUAL LENDERS TOOK PARTIAL CREDIT RISK BY FOREGOING SERVICE FEE PARTIALLY/FULLY WHICH WAS NOT PROVIDED UNDER THE SCOPE OF ACTIVITIES FOR NBFC-P2P COMPANIES DID NOT UNDERTAKE AND DISCLOSE CREDIT ASSESSMENT AND RISK PROFILE OF BORROWERS TO PROSPECTIVE LENDERS DID NOT ADHERE TO RBI’S DIRECTIONS ON ‘FUND TRANSFER MECHANISM’, WHEN IT ALLOWED REPAYMENTS TO LENDERS FROM FRESH FUNDS PROVIDED BY NEW/ EXISTING LENDERS OR THROUGH REPAYMENTS POOLED FROM BORROWERS RATHER THAN FROM A SPECIFIC BORROWER TO A SPECIFIC LENDER	IMPOSED PENALTY RS.40,00,000 FROM 11-FEB-2025 11-FEB-2025
28	FEDBANK FINANCIAL SERVICES LTD.		DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD	IMPOSED PENALTY RS.8,80,000 FROM 20-SEP-2023 20-SEP-2023
29	FEDBANK FINANCIAL SERVICES LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS	IMPOSED PENALTY RS.15,00,000 FROM 22-MAR-2021 22-MAR-2021
30	FINQUEST FINANCIAL SOLUTIONS PVT.LTD.		DID NOT DO RISK CATEGORISATION OF ITS CUSTOMERS DID NOT MAKE GOOD SHORTFALL IN LTV RATIO OF 50% FOR LOANS GRANTED AGAINST COLLATERAL WITHIN SEVEN WORKING DAYS DID NOT SUBMIT DATA TO ANY OF THE FOUR CREDIT INFORMATION COMPANIES (AT MONTHLY AND/OR SHORTLY INTERVALS)	IMPOSED PENALTY RS.1,20,000 FROM 15-SEP-2023 15-SEP-2023
31	FORTUNE INTEGRATED ASSETS FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS	IMPOSED PENALTY RS.2,00,000 FROM 31-JAN-2020 31-JAN-2020
32	GLOWMORE FINANCE PVT.LTD.		DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS	IMPOSED PENALTY RS.4,00,000 FROM 13-NOV-2025 13-NOV-2025
33	GOCAPITAL FINANCE LTD.		DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS	IMPOSED PENALTY RS.1,00,000 FROM 07-OCT-2024 07-OCT-2024
34	GPT SONS PVT.LTD.		DID NOT TRANSFER 20% OF ITS NET PROFIT TO STATUTORY RESERVE	IMPOSED PENALTY RS.25,000 FROM 14-NOV-2024 14-NOV-2024
35	GREWAL BROTHERS FINANCE CO.PVT.LTD.		DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS	IMPOSED PENALTY RS.50,000 FROM 09-MAY-2025 09-MAY-2025
36	HDB FINANCIAL SERVICES LTD.		DID NOT OBTAIN PERMANENT ACCOUNT NUMBER (PAN) CARD DETAILS OR FORM 60/61	IMPOSED PENALTY RS.4,20,000 FROM 01-OCT-2025 01-OCT-2025
37	HERO FINCORP LTD.		DID NOT CONVEY TERMS & CONDITIONS OF LOANS IN WRITING TO BORROWERS IN VERNACULAR LANGUAGE UNDERSTOOD BY THEM	IMPOSED PENALTY RS.3,10,000 FROM 22-MAY-2024 22-MAY-2024
38	HEWLETT PACKARD FINANCIAL SERVICES (INDIA) PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF KYC (KNOW YOUR CLIENTS) OF CERTAIN CUSTOMERS WITHIN PRESCRIBED PERIODICITY DID NOT MAKE DISCLOSURE TO RETAIL BORROWERS, GRADATION OF RISK AND RATIONALE FOR CHARGING DIFFERENT INTEREST RATES TO DIFFERENT CATEGORIES OF BORROWERS IN LOAN APPLICATION FORM/SANCTION LETTER DID NOT FORM IT STRATEGY COMMITTEE AND IT STEERING COMMITTEE	IMPOSED PENALTY RS.10,40,000 FROM 03-SEP-2024 03-SEP-2024
39	HEWLETT-PACKARD FINANCIAL SERVICES (INDIA) PVT.LTD.		DID NOT ADHERE TO RBI DIRECTIVES/INSTRUCTIONS/GUIDELINES ON MEMBERSHIP OF CREDIT INFORMATION COMPANIES (CICS) DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON DATA FORMAT FOR FURNISHING OF CREDIT INFORMATION TO CREDIT INFORMATION COMPANIES AND OTHER REGULATORY MEASURES	IMPOSED PENALTY RS.6,00,000 FROM 03-AUG-2021 03-AUG-2021
40	HINDUJA LEYLAND FINANCE LTD.		DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.4,90,000 FROM 08-AUG-2024 08-AUG-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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