SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-AUG-2025

NBFC: IMPOSED PENALTY

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	FAIRASSETS TECHNOLOGIES INDIA 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 UNDERTAKE AND DISCLOSE CREDIT ASSESSMENT AND RISK PROFILE OF BORROWERS TO PROSPECTIVE LENDERS DID NOT ADHERE TO RBI’S DIRECTIONS ON ‘FUND TRANSFER MECHANISM’, WHEN IT ALLOWED REPAYMENTS TO LENDERS FROM FRESH FUNDS PROVIDED BY NEW/ EXISTING LENDERS OR THROUGH REPAYMENTS POOLED FROM BORROWERS RATHER THAN FROM A SPECIFIC BORROWER TO A SPECIFIC LENDER	IMPOSED PENALTY RS.40,00,000 11-FEB-2025
2	FEDBANK FINANCIAL SERVICES LTD.		DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD	IMPOSED PENALTY RS.8,80,000 20-SEP-2023
3	FEDBANK FINANCIAL SERVICES LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS	IMPOSED PENALTY RS.15,00,000 22-MAR-2021
4	FINQUEST FINANCIAL SOLUTIONS PVT.LTD.		DID NOT DO RISK CATEGORISATION OF ITS CUSTOMERS DID NOT MAKE GOOD SHORTFALL IN LTV RATIO OF 50% FOR LOANS GRANTED AGAINST COLLATERAL WITHIN SEVEN WORKING DAYS DID NOT SUBMIT DATA TO ANY OF THE FOUR CREDIT INFORMATION COMPANIES (AT MONTHLY AND/OR SHORTLY INTERVALS)	IMPOSED PENALTY RS.1,20,000 15-SEP-2023
5	FORTUNE INTEGRATED ASSETS FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS	IMPOSED PENALTY RS.2,00,000 31-JAN-2020
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.