SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 29-APR-2025

NBFC: TOOK PARTIAL CREDIT RISK BY FOREGOING SERVICE FEE PARTIALLY/FULLY WHICH WAS NOT PROVIDED UNDER THE SCOPE OF ACTIVITIES FOR NBFC-P2P COMPANIES

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	BRIDGE FINTECH SOLUTIONS PVT.LTD.		DISBURSED LOANS TO INDIVIDUAL BORROWERS WITHOUT SPECIFIC APPROVAL OF INDIVIDUAL LENDERS TOOK PARTIAL CREDIT RISK BY FOREGOING SERVICE FEE PARTIALLY/FULLY WHICH WAS NOT PROVIDED UNDER THE SCOPE OF ACTIVITIES FOR NBFC-P2P COMPANIES 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 DID NOT CONDUCT PERIODIC REVIEW OF COMPLIANCE OF FAIR PRACTICES CODE AND FUNCTIONING OF GRIEVANCES REDRESSAL MECHANISM	IMPOSED PENALTY RS.10,00,000 04-MAR-2025
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.