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	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 24-AUG-2023
2	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 03-JUN-2025
3	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 24-MAR-2025
4	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 11-FEB-2025
5	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 12-AUG-2024
6	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 04-FEB-2022
7	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 06-FEB-2024
8	PURVAJA FINCAP PVT.LTD.		REDEEMED PRE-MATURELY SUBORDINATED DEBTS WITHOUT CONSENT OF RESERVE BANK OF INDIA	IMPOSED PENALTY RS.50,000 27-MAR-2025
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.