SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 21-NOV-2024

NBFC: DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	ANAND RATHI GLOBAL FINANCE LTD.		DID NOT DO RISK CATEGORISATION OF ITS CUSTOMERS DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.20,00,000 30-OCT-2023
2	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 07-DEC-2023
3	ECL FINANCE LTD.		DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.4,90,000 04-DEC-2023
4	HINDUJA LEYLAND FINANCE LTD.		DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.4,90,000 08-AUG-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.