SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-AUG-2026

NBFC: DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	ANAND RATHI GLOBAL FINANCE LTD.		DID NOT DO RISK CATEGORISATION OF ITS CUSTOMERS DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.20,00,000 FROM 30-OCT-2023 30-OCT-2023
2	BERAR FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF “KNOW YOUR CLIENTS” OF CUSTOMERS AS PER RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.10,54,000 FROM 07-DEC-2023 07-DEC-2023
3	ECL FINANCE LTD.		DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.4,90,000 FROM 04-DEC-2023 04-DEC-2023
4	HINDUJA LEYLAND FINANCE LTD.		DID NOT UNDERTAKE ONGOING CUSTOMER DUE DILIGENCE AND PUT INTO USE ROBUST SOFTWARE FOR GENERATING ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH CUSTOMER PROFILE DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.4,90,000 FROM 08-AUG-2024 08-AUG-2024
5	MUTHOOT FINANCE LTD.		DID NOT PUT IN PLACE A SYSTEM OF RISK CATEGORISATION OF ACCOUNTS DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.5,80,000 FROM 10-JUL-2026 10-JUL-2026
6	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
7	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
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.