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

NBFC: DID NOT UNDERTAKE AND DISCLOSE CREDIT ASSESSMENT AND RISK PROFILE OF BORROWERS TO PROSPECTIVE LENDERS

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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
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.