SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 10-JAN-2026

NBFC: IMPOSED PENALTY

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
41	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 FROM 08-AUG-2024 08-AUG-2024
42	HINDUJA LEYLAND FINANCE LTD.		DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934	IMPOSED PENALTY RS.5,00,000 FROM 11-APR-2017 11-APR-2017
43	IGH HOLDINGS PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON PAYMENT TO CERTAIN BORROWERS THE SURPLUS AMOUNTS REALISED BY AUCTION OF GOLD ARTICLES PLEDGED BY THOSE BORROWERS DID NOT OBTAIN MEMBERSHIP OF CREDIT INFORMATION COMPANIES (CICS) DID NOT OBTAIN MEMBERSHIP OF THREE OUT OF FOUR CREDIT INFORMATION COMPANIES (CICS)	IMPOSED PENALTY RS.11,25,000 FROM 15-MAR-2023 15-MAR-2023
44	IIFL SAMASTA FINANCE LTD.		CHARGED INTEREST ON LOANS FOR THE PERIOD PRIOR TO DATE OF ACTUAL DISBURSEMENT OF LOAN/ISSUANCE OF CHEQUE TO CERTAIN BORROWERS IN CONTRAVENTION OF RBI DIRECTIONS ON ‘FAIR PRACTICES CODE’ DID NOT CLASSIFY CERTAIN GOLD LOAN ACCOUNTS WITH OVERDUES OF MORE THAN NINETY DAYS AS NON-PERFORMING ASSETS (NPAS) CLASSIFIED CERTAIN LOAN ACCOUNTS WHICH WERE NPA AS ‘STANDARD ASSET’ WITHOUT REALISATION OF ENTIRE ARREARS OF INTEREST AND PRINCIPAL AMOUNT DUE DID NOT ASSIGN UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC) TO ITS CUSTOMERS	IMPOSED PENALTY RS.33,10,000 FROM 24-FEB-2025 24-FEB-2025
45	INDIA HOME LOAN LTD.		SANCTIONED LOANS BEYOND PRESCRIBED LOAN TO VALUE (LTV) RATIO	IMPOSED PENALTY RS.1,00,000 FROM 03-JUN-2024 03-JUN-2024
46	INDIABULLS COMMERCIAL CREDIT 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.12,35,000 FROM 07-SEP-2022 07-SEP-2022
47	INDIAN SCHOOL FINANCE CO.PVT.LTD.		OUTSOURCED ONE OF ITS CORE MANAGEMENT FUNCTIONS (INTERNAL AUDIT TO EXTERNAL AUDITOR)	IMPOSED PENALTY RS.50,000 FROM 03-JAN-2025 03-JAN-2025
48	INDOSTAR CAPITAL FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON ROBUST SOFTWARE TO THROW ALERTS AS PART OF EFFECTIVE IDENTIFICATION OF ACCOUNTS, MONITORING AND/OR REPORTING OF SUSPICIOUS TRANSACTIONS DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK CATEGORISATION DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD	IMPOSED PENALTY RS.13,60,000 FROM 21-FEB-2024 21-FEB-2024
49	INNOFIN SOLUTIONS PVT.LTD.		DID NOT MAKE DISCLOSURE OF REQUIRED PERSONAL DETAILS INCLUDING CREDIT ASSESSMENT AND RISK PROFILE OF BORROWERS TO PROSPECTIVE LENDERS DISBURSED LOANS WITHOUT SPECIFIC APPROVAL OF INDIVIDUAL LENDERS ROUTED AMOUNTS DISBURSED AND COLLECTED IN LOAN ACCOUNTS IN P2P PLATFORM THROUGH ‘CO-LENDING ESCROW ACCOUNT’ IN VIOLATION OF ‘FUND TRANSFER MECHANISM’ ALLOWED REPAYMENTS IN MERCHANT FINANCE LOANS TO BE ROUTED THROUGH NODAL ACCOUNT OF A THIRD PARTY WHICH WAS ACTING AS A LENDING SERVICE PROVIDER FOR THE COMPANY	IMPOSED PENALTY RS.1,99,50,000 FROM 21-AUG-2024 21-AUG-2024
50	JM FINANCIAL PRODUCTS LTD.		DID NOT MAKE DISCLOSURE OF MATERIAL RELATED PARTY TRANSACTION IN ITS ANNUAL REPORT	IMPOSED PENALTY RS.3,10,000 FROM 03-MAR-2025 03-MAR-2025
51	JUMBO FINVEST (INDIA) LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA 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.25,50,000 FROM 03-MAY-2021 03-MAY-2021
52	JUPITER CAPITAL PVT.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 RBI DIRECTIVES/INSTRUCTIONS/GUIDELINES ON MEMBERSHIP OF CREDIT INFORMATION COMPANIES (CICS)	IMPOSED PENALTY RS.81,92,000 FROM 03-AUG-2022 03-AUG-2022
53	KEERTANA FINSERV 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.3,10,000 FROM 02-DEC-2025 02-DEC-2025
54	KHUSH HOUSING FINANCE PVT.LTD.		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.16,000 FROM 19-MAY-2025 19-MAY-2025
55	KKR INDIA FINANCIAL SERVICES PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS	IMPOSED PENALTY RS.5,00,000 FROM 05-MAY-2022 05-MAY-2022
56	KLM AXIVA FINVEST LTD.		DECLARED DIVIDEND FOR FINANCIAL YEAR 2023-24 DESPITE NOT MEETING MINIMUM PRUDENTIAL REQUIREMENTS IN EACH OF THE LAST THREE FINANCIAL YEARS	IMPOSED PENALTY RS.10,00,000 FROM 24-MAR-2025 24-MAR-2025
57	KOSAMATTAM FINANCE LTD.		DID NOT SUBMIT CREDIT INFORMATION PERTAINING TO GOLD LOAN ACCOUNTS TO CREDIT INFORMATION COMPANIES DID NOT MAINTAIN LOAN-TO-VALUE (LTV) RATIO OF 75% IN CERTAIN LOAN ACCOUNTS	IMPOSED PENALTY RS.13,38,000 FROM 25-OCT-2023 25-OCT-2023
58	KOSAMATTAM FINANCE 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 18-JUN-2018 18-JUN-2018
59	KRAZYBEE SERVICES PVT.LTD.		PERSISTENT/REPEAT COMPLAINTS ABOUT HARASSMENT OF CUSTOMERS DUE TO RECOVERY AND COLLECTION METHODS A ADOPTED BY THE COMPANY RECOVERY AGENTS DID NOT REPORT TO HARASSMENT OR INTIMIDATION OF CUSTOMERS AS PART OF ITS DEBT COLLECTION EFFORTS	IMPOSED PENALTY RS.42,48,000 FROM 01-FEB-2023 01-FEB-2023
60	L&T FINANCE LTD.		DID NOT GIVE NOTICE OF CHANGE IN TERMS AND CONDITIONS OF LOAN TO BORROWERS WHEN IT CHARGED ANNUALIZED RATE OF INTEREST HIGHER THAN WHAT COMMUNICATED AT THE TIME OF SANCTION DID NOT MAKE DISCLOSURE TO RETAIL BORROWERS, GRADATION OF RISK AND RATIONALE FOR CHARGING DIFFERENT INTEREST RATES TO DIFFERENT CATEGORIES OF BORROWERS IN LOAN APPLICATION FORM/SANCTION LETTER DID NOT NOTIFY CHANGE IN PENAL INTEREST RATE TO BORROWERS, WHEN IT CHARGED PENAL INTEREST RATE HIGHER THAN WHAT WAS COMMUNICATED AT THE TIME OF SANCTION	IMPOSED PENALTY RS.2,50,00,000 FROM 17-OCT-2023 17-OCT-2023
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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