|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
81
|
|
MUTHOOT VEHICLE & ASSET FINANCE LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF INFORMATION ON LIQUIDITY COVERAGE RATIO ON ITS WEBSITE
DID NOT SUBMIT DATA WITH RESPECT TO ITS GOLD LOAN CUSTOMERS TO FOUR CREDIT INFORMATION COMPANIES
DID NOT CONVEY IN WRITING THE AMOUNT OF LOAN SANCTIONED ALONG WITH TERMS AND CONDITIONS IN VERNACULAR LANGUAGE AS UNDERSTOOD BY VEHICLE LOAN BORROWERS BY MEANS OF A SANCTION LETTER OR OTHERWISE
|
IMPOSED PENALTY RS.7,90,000 FROM 11-SEP-2024
11-SEP-2024
|
|
|
82
|
|
|
MUTHOOTTU MINI FINANCIERS PVT.LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON ISSUANCE AND RENEWAL OF NON-CONVERTIBLE DEBENTURES (NCDS) AND LOAN AGAINST NCDS
DID NOT ADHERE TO FAIR PRACTICES CODE (FPC) AND DISCLOSURES IN THE BALANCE SHEET ETC.
|
IMPOSED PENALTY RS.5,00,000 FROM 24-JUL-2015
24-JUL-2015
|
|
|
83
|
|
|
MYND SOLUTIONS PVT.LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRADE RECEIVABLES DISCOUNTING SYSTEM (TREDS)
|
IMPOSED PENALTY RS.13,90,000 FROM 29-DEC-2022
29-DEC-2022
|
|
|
84
|
|
|
NABFINS LTD.
|
|
|
ADOPTED RESTRICTIVE PRACTICE OF FORCING CUSTOMERS TO GO IN ONLY FOR A PARTICULAR INSURANCE COMPANY IN RESPECT OF ASSETS FINANCED BY IT
|
IMPOSED PENALTY RS.10,00,000 FROM 15-APR-2024
15-APR-2024
|
|
|
85
|
|
|
NAVI FINSERV LTD.
|
|
|
CONTACTED CUSTOMERS AFTER 7:00 P.M. AND BEFORE 8:00 A.M. FOR RECOVERY OF OVERDUE LOANS
DID NOT FOLLOW DUE PROTOCOL WHILE SENDING MESSAGES TO CUSTOMERS
|
IMPOSED PENALTY RS.3,80,000 FROM 10-FEB-2026
10-FEB-2026
|
|
|
86
|
|
|
NDX P2P PVT.LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF REQUIRED PERSONAL DETAILS INCLUDING CREDIT ASSESSMENT AND RISK PROFILE OF BORROWERS TO PROSPECTIVE LENDERS
DISBURSED LOANS WITHOUT SPECIFIC APPROVAL OF INDIVIDUAL LENDERS
ROUTED AMOUNTS DISBURSED AND COLLECTED IN LOAN ACCOUNTS IN P2P PLATFORM THROUGH ‘CO-LENDING ESCROW ACCOUNT’ IN VIOLATION OF ‘FUND TRANSFER MECHANISM’
ALLOWED REPAYMENTS IN MERCHANT FINANCE LOANS TO BE ROUTED THROUGH NODAL ACCOUNT OF A THIRD PARTY WHICH WAS ACTING AS A LENDING SERVICE PROVIDER FOR THE COMPANY
TOOK PARTIAL CREDIT RISK BY FOREGOING SERVICE FEE PARTIALLY/FULLY WHICH WAS NOT PROVIDED UNDER THE SCOPE OF ACTIVITIES FOR NBFC-P2P COMPANIES
|
IMPOSED PENALTY RS.1,92,00,000 FROM 21-AUG-2024
21-AUG-2024
|
|
|
87
|
|
|
NISSAN RENAULT FINANCIAL SERVICES INDIA PVT.LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA
|
IMPOSED PENALTY RS.5,00,000 FROM 17-NOV-2020
17-NOV-2020
|
|
|
88
|
|
|
NORTHERN ARC CAPITAL LTD.
|
|
|
DID NOT PUT IN PLACE ANY IT SYSTEM/SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS
|
IMPOSED PENALTY RS.2,70,000 FROM 29-JAN-2026
29-JAN-2026
|
|
|
89
|
|
|
NUVAMA WEALTH FINANCE LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON ROBUST SOFTWARE TO THROW ALERTS AS PART OF EFFECTIVE IDENTIFICATION OF ACCOUNTS, MONITORING AND/OR REPORTING OF SUSPICIOUS TRANSACTIONS
|
IMPOSED PENALTY RS.9,60,000 FROM 06-MAR-2023
06-MAR-2023
|
|
|
90
|
|
|
OCEAN CAPITAL MARKET LTD.
|
|
|
DELAY IN SUBMISSION OF SEVERAL RETURNS ON XBRL PLATFORM
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON EXPOSURE LIMITS ON LENDING/INVESTMENTS IN RESPECT OF SINGLE BORROWERS AND SINGLE GROUP OF BORROWERS
DID NOT CONSTITUTE VARIOUS COMMITTEES OF THE BOARD
|
IMPOSED PENALTY RS.16,00,000 FROM 09-FEB-2024
09-FEB-2024
|
|
|
91
|
|
|
OLA FINANCIAL SERVICES PVT.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
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PREPAID PAYMENT INSTRUMENT ISSUERS (PPIS)
|
IMPOSED PENALTY RS.1,67,80,000 FROM 12-JUL-2022
12-JUL-2022
|
|
|
92
|
|
|
PAUL MERCHANTS FINANCE PVT.LTD.
|
|
|
DID NOT INTEND TO PRONOUNCE UPON VALIDITY OF ANY TRANSACTION OR AGREEMENT ENTERED INTO BY NBFC WITH CUSTOMERS
|
IMPOSED PENALTY RS.30,50,000 FROM 24-AUG-2023
24-AUG-2023
|
|
|
93
|
|
|
PAYME INDIA FINANCIAL SERVICES PVT.LTD.
|
|
|
VIOLATED SPECIFIC CONDITIONS OF THE CERTIFICATE OF REGISTRATION (ACCEPTED PUBLIC FUNDS AND CUSTOMER INTERFACE, WHEN SANCTIONING ITS LOANS AND ADVANCES)
DID NOT TAKE PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN SHAREHOLDING MORE THAN 26% OF PAID-UP EQUITY CAPITAL
|
IMPOSED PENALTY RS.2,00,000 FROM 03-JUN-2025
03-JUN-2025
|
|
|
94
|
|
|
PHOENIX ARC PVT.LTD.
|
|
|
SETTLED DUES OF CERTAIN BORROWERS HAVING AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF MORE THAN RS.1 CRORE WITHOUT THE PRIOR APPROVAL OF ITS BOARD OF DIRECTORS
|
IMPOSED PENALTY RS.52,70,000 FROM 24-MAR-2025
24-MAR-2025
|
|
|
95
|
|
|
PINNACLE CAPITAL SERVICES PVT.LTD.
|
|
|
ISSUED CREDIT LINE IN THE NATURE OF CREDIT CARD TO CERTAIN BORROWERS WITHOUT PRIOR APPROVAL FROM RBI
DISBURSED LOANS TO BORROWERS THROUGH PASS-THROUGH ACCOUNT OF THIRD PARTY
|
IMPOSED PENALTY RS.2,00,000 FROM 11-FEB-2025
11-FEB-2025
|
|
|
96
|
|
|
PINNACLE CAPITAL SOLUTIONS PVT.LTD.
|
|
|
OBTAINED DEFAULT LOSS GUARANTEE FROM LENDING SERVICE PROVIDER, WHICH EXCEEDED FIVE PERCENT OF THE AMOUNT OF OUTSTANDING LOAN PORTFOLIO
|
IMPOSED PENALTY RS.1,00,000 FROM 09-DEC-2025
09-DEC-2025
|
|
|
97
|
|
|
POONAWALLA FINCORP LTD.
|
|
|
CHARGED INTEREST ON LOANS FROM DATES PRIOR TO DATES OF DISBURSAL OF LOANS CONTRARY TO TERMS AND CONDITIONS OF LOANS COMMUNICATED TO CUSTOMERS
|
IMPOSED PENALTY RS.10,00,000 FROM 12-AUG-2024
12-AUG-2024
|
|
|
98
|
|
|
POORAM FINSERV PVT.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
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON RAISING MONEY THROUGH PRIVATE PLACEMENT OF NON-CONVERTIBLE DEBENTURES (NCDS) BY NBFCS
|
IMPOSED PENALTY RS.10,00,000 FROM 04-FEB-2022
04-FEB-2022
|
|
|
99
|
|
|
POWER FINANCE CORP.LTD.
|
|
|
DID NOT MAINTAIN PRESCRIBED LIQUIDITY COVERAGE RATIO (LCR) OF 60% AS A RESULT OF INCLUSION OF INELIGIBLE ASSETS AS HIGH QUALITY LIQUID ASSETS (HQLA) FOR COMPUTATION OF LIQUIDITY COVERAGE RATIO (LCR)
|
IMPOSED PENALTY RS.8,80,000 FROM 06-FEB-2024
06-FEB-2024
|
|
|
100
|
|
|
PURVAJA FINCAP PVT.LTD.
|
|
|
REDEEMED PRE-MATURELY SUBORDINATED DEBTS WITHOUT CONSENT OF RESERVE BANK OF INDIA
|
IMPOSED PENALTY RS.50,000 FROM 27-MAR-2025
27-MAR-2025
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
|
|
|
|
|
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