SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

NBFC: DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	MANAPPURAM FINANCE LTD.		DID NOT CLASSIFY CERTAIN GOLD LOAN ACCOUNTS WITH OVERDUES OF MORE THAN NINETY DAYS AS NON-PERFORMING ASSETS (NPAS) DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS	IMPOSED PENALTY RS.20,00,000 12-JUN-2023
2	MUTHOOT FINANCE 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 ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA DID NOT OBTAIN PERMANENT ACCOUNT NUMBER (PAN) CARD WHILE GRANTING GOLD LOANS IN EXCESS OF RS.5.00 LACS	IMPOSED PENALTY RS.10,00,000 19-NOV-2020
3	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 24-JUL-2015
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.