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 ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	SAPPERS FINANCE & CONSULTANCY PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA OFFERED INTEREST ON DEPOSITS OF NON-INDIVIDUAL CONSTITUENTS AT RATES APPLICABLE TO SENIOR/SUPER SENIOR CITIZENS	IMPOSED PENALTY RS.1,50,000 02-NOV-2023
2	SHRIRAM CITY UNION FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON VERIFICATION OF OWNERSHIP OF GOLD JEWELLERY CONTAINED IN NBFC RESERVE BANK OF INDA DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016 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 REPORTING OF FRAUDS CONTAINED IN MONITORING OF FRAUDS IN NBFCS RESERVE BANK OF INDA DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016	IMPOSED PENALTY RS.5,00,000 23-SEP-2020
3	SONATA FINANCE 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.15,00,000 23-MAR-2021
4	SPANDANA SPHOORTY FINANCIAL 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.2,33,00,000 05-AUG-2022
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.