SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-AUG-2026

NBFC: IMPOSED PENALTY

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
61	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
62	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
63	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
64	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
65	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
66	KHUSH HOUSING FINANCE PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS	IMPOSED PENALTY RS.16,000 FROM 19-MAY-2025 19-MAY-2025
67	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
68	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
69	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
70	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
71	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
72	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
73	LAXMAN LEAFIN LTD.		DID NOT ADHERE TO PROVISIONS ON ISSUANCE OF NON-CONVERTIBLE DEBENTURES (RESERVE BANK) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2010	IMPOSED PENALTY RS.2,00,000 FROM 28-JAN-2016 28-JAN-2016
74	M.L.SECURITIES & 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.2,50,000 FROM 11-MAR-2022 11-MAR-2022
75	MAANAVEEYA DEVELOPMENT & FINANCE PVT.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 27-FEB-2026 27-FEB-2026
76	MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD.		LEVIED FORECLOSURE CHARGES DESPITE THERE WAS NO CLAUSE IN LOAN AGREEMENT FOR LEVY OF PREPAYMENT PENALTY ON LOANS RECALLED/FORECLOSURE INITIATED BY BANK DELAY IN ESCALATION OF CERTAIN COMPLAINTS, PARTLY/ WHOLLY REJECTED BY COMPANY’S INTERNAL GRIEVANCE REDRESS MECHANISM TO ITS INTERNAL OMBUDSMAN DELAY IN COMMUNICATION OF FINAL DECISION TO THE COMPLAINANT	IMPOSED PENALTY RS.11,50,000 FROM 27-FEB-2026 27-FEB-2026
77	MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD.		DID NOT MAKE DISCLOSURE OF PROCESSING FEES AND OTHER CHARGES IN CERTAIN LOAN APPLICATION FORMS DID NOT FURNISH COPIES OF LOAN AGREEMENTS AND DID NOT CONVEY DETAILS OF LOANS IN SANCTION LETTERS TO CERTAIN BORROWERS DID NOT GIVE FINAL CHANCE TO CERTAIN BORROWERS TO REPAY LOANS BEFORE SALE/AUCTION OF VEHICLES ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS	IMPOSED PENALTY RS.71,30,000 FROM 21-APR-2025 21-APR-2025
78	MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON STATUTORY REQUIREMENTS OF TRANSFER OF 20% OF NET PROFIT AS DISCLOSED IN ITS PROFIT AND LOSS ACCOUNT TO RESERVE FUND	IMPOSED PENALTY RS.6,77,00,000 FROM 05-APR-2023 05-APR-2023
79	MANAPPURAM FINANCE LTD.		PAID ENTIRE VARIABLE PAY UPFRONT TO CERTAIN KEY MANAGERIAL PERSONNEL WITHOUT ANY DEFERMENT	IMPOSED PENALTY RS.2,70,000 FROM 09-MAR-2026 09-MAR-2026
80	MANAPPURAM FINANCE LTD.		DID NOT UNDERTAKE VERIFICATION OF PAN OF CUSTOMERS FROM VERIFICATION FACILITY OF THE ISSUING AUTHORITY AT THE TIME OF CUSTOMER ACCEPTANCE ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS	IMPOSED PENALTY RS.20,00,000 FROM 16-DEC-2024 16-DEC-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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