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S.No.
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ENTITY |
PERSONS |
REGULATORY CHARGES
|
REGULATORY ACTION(S) / DATE OF ORDER
|
FURTHER DEVELOPMENTS
|
|
1
|
|
M.L.SECURITIES & FINANCE PVT.LTD.
|
|
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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
11-MAR-2022
|
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|
2
|
|
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MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD.
|
|
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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
21-APR-2025
|
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3
|
|
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MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD.
|
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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
05-APR-2023
|
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4
|
|
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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
16-DEC-2024
|
|
|
5
|
|
|
MANAPPURAM FINANCE LTD.
|
|
|
DID NOT SUBMIT APPLICABLE RETURNS AND STATUTORY AUDITOR’S CERTIFICATE TO RBI
|
IMPOSED PENALTY RS.42,78,000
31-OCT-2023
|
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6
|
|
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MANAPPURAM FINANCE LTD.
|
|
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DID NOT CLASSIFY CERTAIN GOLD LOAN ACCOUNTS WITH OVERDUES OF MORE THAN NINETY DAYS AS NON-PERFORMING ASSETS (NPAS)
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS
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IMPOSED PENALTY RS.20,00,000
12-JUN-2023
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|
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7
|
|
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MANAPPURAM FINANCE LTD.
|
|
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DID NOT ADHERE TO CERTAIN DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON ISSUANCE AND OPERATION OF PPIS IN 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.17,63,965
18-APR-2022
|
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8
|
|
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MANAPPURAM FINANCE LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON VERIFICATION OF OWNERSHIP OF GOLD JEWELLERY CONTAINED IN NBFC RESERVE BANK OF INDA DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016
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
19-NOV-2020
|
|
|
9
|
|
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MERCEDES-BENZ FINANCIAL SERVICES INDIA PVT.LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK
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IMPOSED PENALTY RS.10,00,000
30-OCT-2023
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10
|
|
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MIKHAEL CAPITALIZE PVT. LTD.
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DID NOT TAKE PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN SHAREHOLDING MORE THAN 26% OF PAID-UP EQUITY CAPITAL
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON APPOINTMENT OF INDEPENDENT DIRECTORS/CHIEF INFORMATION OFFICER/CHIEF TECHNOLOGY OFFICER
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IMPOSED PENALTY RS.1,00,000
25-MAR-2025
|
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11
|
|
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MULAMOOTTIL FINANCIERS LTD.
|
|
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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.20,00,000
24-NOV-2021
|
|
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12
|
|
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MUTHOOT FINANCE LTD.
|
|
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ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS
|
IMPOSED PENALTY RS.1,90,000
15-JUL-2024
|
|
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13
|
|
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MUTHOOT FINANCE LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA
DID NOT OBTAIN PERMANENT ACCOUNT NUMBER (PAN) CARD WHILE GRANTING GOLD LOANS IN EXCESS OF RS.5.00 LACS
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IMPOSED PENALTY RS.10,00,000
19-NOV-2020
|
|
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14
|
|
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MUTHOOT MONEY PVT.LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON FRAUDS MONITORING AND REPORTING MECHANISM
|
IMPOSED PENALTY RS.10,50,000
06-APR-2023
|
|
|
15
|
|
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MUTHOOT VEHICLE & ASSET FINANCE LTD.
|
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DID NOT MAKE DISCLOSURE OF INFORMATION ON LIQUIDITY COVERAGE RATIO ON ITS WEBSITE
DID NOT SUBMIT DATA WITH RESPECT TO ITS GOLD LOAN CUSTOMERS TO FOUR CREDIT INFORMATION COMPANIES
DID NOT CONVEY IN WRITING THE AMOUNT OF LOAN SANCTIONED ALONG WITH TERMS AND CONDITIONS IN VERNACULAR LANGUAGE AS UNDERSTOOD BY VEHICLE LOAN BORROWERS BY MEANS OF A SANCTION LETTER OR OTHERWISE
|
IMPOSED PENALTY RS.7,90,000
11-SEP-2024
|
|
|
16
|
|
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MUTHOOTTU MINI FINANCIERS PVT.LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON ISSUANCE AND RENEWAL OF NON-CONVERTIBLE DEBENTURES (NCDS) AND LOAN AGAINST NCDS
DID NOT ADHERE TO FAIR PRACTICES CODE (FPC) AND DISCLOSURES IN THE BALANCE SHEET ETC.
|
IMPOSED PENALTY RS.5,00,000
24-JUL-2015
|
|
|
17
|
|
|
MYND SOLUTIONS PVT.LTD.
|
|
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRADE RECEIVABLES DISCOUNTING SYSTEM (TREDS)
|
IMPOSED PENALTY RS.13,90,000
29-DEC-2022
|
|
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The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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