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
1	VANCHINAD FINANCE PVT.LTD.		DECLARED DIVIDEND IN EXCESS OF PRESCRIBED DIVIDEND PAYOUT RATIO	IMPOSED PENALTY RS.1,00,000 FROM 03-MAR-2025 03-MAR-2025
2	VILLAGE 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	IMPOSED PENALTY RS.5,00,000 FROM 11-AUG-2021 11-AUG-2021
3	VISIONARY FINANCEPEER PVT.LTD.		DISBURSED LOANS TO INDIVIDUAL BORROWERS WITHOUT SPECIFIC APPROVAL OF INDIVIDUAL LENDERS DID NOT ENSURE THAT EACH INDIVIDUAL LENDER AND BORROWER HAD SIGNED A LOAN AGREEMENT DID NOT MAKE DISCLOSURE OF REQUIRED DETAILS OF THE BORROWERS TO THE LENDERS DID NOT HAVE BOARD APPROVED POLICY FOR PRICING OF SERVICES PROVIDED 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 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.16,60,000 FROM 25-FEB-2025 25-FEB-2025
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.