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
101	NAMDEV FINVEST LTD.		DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.2,70,000 FROM 03-AUG-2026 03-AUG-2026
102	NAVI FINSERV LTD.		CONTACTED CUSTOMERS AFTER 7:00 P.M. AND BEFORE 8:00 A.M. FOR RECOVERY OF OVERDUE LOANS DID NOT FOLLOW DUE PROTOCOL WHILE SENDING MESSAGES TO CUSTOMERS	IMPOSED PENALTY RS.3,80,000 FROM 10-FEB-2026 10-FEB-2026
103	NDX P2P 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 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.1,92,00,000 FROM 21-AUG-2024 21-AUG-2024
104	NEWA INVESTMENTS 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.2,70,000 FROM 15-MAY-2026 15-MAY-2026
105	NISSAN RENAULT FINANCIAL SERVICES INDIA 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.5,00,000 FROM 17-NOV-2020 17-NOV-2020
106	NORTHERN ARC CAPITAL LTD.		DID NOT DISCLOSE CORRECT AND COMPLETE INFORMATION ABOUT CUSTOMER COMPLAINTS IN ANNUAL FINANCIAL STATEMENTS DID NOT ESTABLISH SYSTEM OF AUTO-ESCALATION OF ALL COMPLAINTS THAT WERE PARTLY OR WHOLLY REJECTED BY ITS INTERNAL GRIEVANCE REDRESS MECHANISM TO INTERNAL OMBUDSMAN FOR A FINAL DECISION	IMPOSED PENALTY RS.6,20,000 FROM 14-AUG-2026 14-AUG-2026
107	NORTHERN ARC CAPITAL LTD.		DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.2,70,000 FROM 29-JAN-2026 29-JAN-2026
108	NUVAMA WEALTH 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	IMPOSED PENALTY RS.9,60,000 FROM 06-MAR-2023 06-MAR-2023
109	OCEAN CAPITAL MARKET LTD.		DELAY IN SUBMISSION OF SEVERAL RETURNS ON XBRL PLATFORM DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON EXPOSURE LIMITS ON LENDING/INVESTMENTS IN RESPECT OF SINGLE BORROWERS AND SINGLE GROUP OF BORROWERS DID NOT CONSTITUTE VARIOUS COMMITTEES OF THE BOARD	IMPOSED PENALTY RS.16,00,000 FROM 09-FEB-2024 09-FEB-2024
110	OLA 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 DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PREPAID PAYMENT INSTRUMENT ISSUERS (PPIS)	IMPOSED PENALTY RS.1,67,80,000 FROM 12-JUL-2022 12-JUL-2022
111	PAHAL FINANCIAL SERVICES PVT.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	IMPOSED PENALTY RS.3,10,000 FROM 18-JUN-2026 18-JUN-2026
112	PAN EMAMI COSMED LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRESCRIBED REGULATORY LIMIT FOR CREDIT EXPOSURE IN RESPECT OF SINGLE GROUP OF PARTIES	IMPOSED PENALTY RS.3,10,000 FROM 13-JUL-2026 13-JUL-2026
113	PAUL MERCHANTS FINANCE PVT.LTD.		DID NOT INTEND TO PRONOUNCE UPON VALIDITY OF ANY TRANSACTION OR AGREEMENT ENTERED INTO BY NBFC WITH CUSTOMERS	IMPOSED PENALTY RS.30,50,000 FROM 24-AUG-2023 24-AUG-2023
114	PAYME INDIA FINANCIAL SERVICES PVT.LTD.		VIOLATED SPECIFIC CONDITIONS OF THE CERTIFICATE OF REGISTRATION (ACCEPTED PUBLIC FUNDS AND CUSTOMER INTERFACE, WHEN SANCTIONING ITS LOANS AND ADVANCES) DID NOT TAKE PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN SHAREHOLDING MORE THAN 26% OF PAID-UP EQUITY CAPITAL	IMPOSED PENALTY RS.2,00,000 FROM 03-JUN-2025 03-JUN-2025
115	PHOENIX ARC PVT.LTD.		SETTLED DUES OF CERTAIN BORROWERS HAVING AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF MORE THAN RS.1 CRORE WITHOUT THE PRIOR APPROVAL OF ITS BOARD OF DIRECTORS	IMPOSED PENALTY RS.52,70,000 FROM 24-MAR-2025 24-MAR-2025
116	PINNACLE CAPITAL SERVICES PVT.LTD.		ISSUED CREDIT LINE IN THE NATURE OF CREDIT CARD TO CERTAIN BORROWERS WITHOUT PRIOR APPROVAL FROM RBI DISBURSED LOANS TO BORROWERS THROUGH PASS-THROUGH ACCOUNT OF THIRD PARTY	IMPOSED PENALTY RS.2,00,000 FROM 11-FEB-2025 11-FEB-2025
117	PINNACLE CAPITAL SOLUTIONS PVT.LTD.		OBTAINED DEFAULT LOSS GUARANTEE FROM LENDING SERVICE PROVIDER, WHICH EXCEEDED FIVE PERCENT OF THE AMOUNT OF OUTSTANDING LOAN PORTFOLIO	IMPOSED PENALTY RS.1,00,000 FROM 09-DEC-2025 09-DEC-2025
118	POONAWALLA FINCORP LTD.		CHARGED INTEREST ON LOANS FROM DATES PRIOR TO DATES OF DISBURSAL OF LOANS CONTRARY TO TERMS AND CONDITIONS OF LOANS COMMUNICATED TO CUSTOMERS	IMPOSED PENALTY RS.10,00,000 FROM 12-AUG-2024 12-AUG-2024
119	POORAM FINSERV 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 DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON RAISING MONEY THROUGH PRIVATE PLACEMENT OF NON-CONVERTIBLE DEBENTURES (NCDS) BY NBFCS	IMPOSED PENALTY RS.10,00,000 FROM 04-FEB-2022 04-FEB-2022
120	POWER FINANCE CORP.LTD.		DID NOT MAINTAIN PRESCRIBED LIQUIDITY COVERAGE RATIO (LCR) OF 60% AS A RESULT OF INCLUSION OF INELIGIBLE ASSETS AS HIGH QUALITY LIQUID ASSETS (HQLA) FOR COMPUTATION OF LIQUIDITY COVERAGE RATIO (LCR)	IMPOSED PENALTY RS.8,80,000 FROM 06-FEB-2024 06-FEB-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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