|
S.No.
|
ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
1
|
|
BAHADUR CHAND INVESTMENTS PVT.LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OUTSOURCING
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON APPOINTMENT OF INDEPENDENT DIRECTORS/CHIEF INFORMATION OFFICER/CHIEF TECHNOLOGY OFFICER
DID NOT MAKE DISCLOSURE OF COMPONENTS OF ADJUSTED NET WORTH AND OTHER RELATED INFORMATION IN ITS ANNUAL FINANCIAL STATEMENTS
|
IMPOSED PENALTY RS.30,00,000 FROM 06-JAN-2023
06-JAN-2023
|
|
|
2
|
|
|
BAJAJ FINANCE LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS
DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD
|
IMPOSED PENALTY RS.8,50,000 FROM 28-SEP-2023
28-SEP-2023
|
|
|
3
|
|
|
BAJAJ FINANCE LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON CREDIT CARD OPERATIONS OF BANKS READ WITH GUIDELINES ON MANAGING RISKS AND CODE OF CONDUCT IN OUTSOURCING OF FINANCIAL SERVICES BY BANKS
DID NOT ADHERE TO THE SPECIFIC DIRECTION OF RBI TO ENSURE FULL COMPLIANCE WITH FAIR PRACTICES CODE (FPC) IN LETTER AND SPIRIT
|
IMPOSED PENALTY RS.2,50,00,000 FROM 05-JAN-2021
05-JAN-2021
|
|
|
4
|
|
|
BAJAJ FINANCE LTD.
|
|
|
VIOLATED FAIR PRACTICES CODE OF MASTER DIRECTION DNBR.PD.008/03.10.119/2016-17 DATED 01/09/2016
|
IMPOSED PENALTY RS.1,00,00,000 FROM 14-JAN-2019
14-JAN-2019
|
|
|
5
|
|
|
BAJAJ HOUSING 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.5,00,000 FROM 29-JAN-2024
29-JAN-2024
|
|
|
6
|
|
|
BAJIRAO APPA SAHAKARI BANK LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL INTER-BANK (GROSS) EXPOSURE LIMITS AND/OR INTER-BANK COUNTER PARTY EXPOSURE LIMITS
DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS
|
IMPOSED PENALTY RS.2,00,000 FROM 29-MAY-2023
29-MAY-2023
|
|
|
7
|
|
|
BALAJI INSTALMENTS LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI VIDE NON-BANKING FINANCIAL COMPANY-RETURNS (RESERVE BANK) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON NON-BANKING FINANCIAL COMPANY-ACCEPTANCE OF PUBLIC DEPOSITS (RESERVE BANK) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 1998
|
IMPOSED PENALTY RS.9,50,000 FROM 03-MAY-2021
03-MAY-2021
|
|
|
8
|
|
|
BELSTAR MICROFINANCE LTD.
|
|
|
OUTSOURCED DECISION-MAKING FUNCTIONS OF DETERMINING COMPLIANCE WITH KYC (KNOW YOUR CUSTOMER) NORMS TO CERTAIN OUTSOURCED AGENTS
|
IMPOSED PENALTY RS.3,10,000 FROM 09-MAY-2024
09-MAY-2024
|
|
|
9
|
|
|
BERAR FINANCE LTD.
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS
DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS
|
IMPOSED PENALTY RS.10,54,000 FROM 07-DEC-2023
07-DEC-2023
|
|
|
10
|
|
|
BRIDGE FINTECH SOLUTIONS 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 ENSURE THAT ITS AGREEMENTS WITH SERVICE PROVIDERS INCLUDED CLAUSES TO RECOGNIZE THE RIGHT OF RBI TO CAUSE INSPECTION TO BE MADE OF THE SERVICE PROVIDERS AND UNDERTAKE ANNUAL REVIEW OF THE SERVICE PROVIDERS
DID NOT CONDUCT PERIODIC REVIEW OF COMPLIANCE OF FAIR PRACTICES CODE
AND FUNCTIONING OF GRIEVANCES REDRESSAL MECHANISM
|
IMPOSED PENALTY RS.10,00,000 FROM 04-MAR-2025
04-MAR-2025
|
|
|
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
|
