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	AMRIT MALWA CAPITAL LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI VIDE NON-BANKING FINANCIAL COMPANY-RETURNS (RESERVE BANK) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016	IMPOSED PENALTY RS.10,00,000 28-SEP-2021
2	ANAND RATHI GLOBAL FINANCE LTD.		DID NOT DO RISK CATEGORISATION OF ITS CUSTOMERS DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.20,00,000 30-OCT-2023
3	APTUS FINANCE INDIA PVT.LTD.		DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS	IMPOSED PENALTY RS.3,10,000 20-JAN-2025
4	ASHOKA VINIYOGA LTD.		DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS	IMPOSED PENALTY RS.3,10,000 08-AUG-2024
5	ASIRVAD MICRO FINANCE PVT.LTD.		DID NOT REPORT HOUSEHOLD INCOME OF CERTAIN BORROWERS TO CREDIT INFORMATION COMPANIES DID NOT PROVIDE FACTSHEETS TO CERTAIN GOLD LOAN CUSTOMERS DID NOT ESTABLISH SYSTEM OF AUTO-ESCALATION OF ALL COMPLAINTS THAT WERE PARTLY OR WHOLLY REJECTED BY ITS INTERNAL GRIEVANCE REDRESS MECHANISM TO INTERNAL OMBUDSMAN FOR A FINAL DECISION	IMPOSED PENALTY RS.6,20,000 20-FEB-2025
6	AYODHYA FINLEASE LTD.		DID NOT TAKE PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN SHAREHOLDING MORE THAN 26% OF PAID-UP EQUITY CAPITAL	IMPOSED PENALTY RS.1,00,000 14-AUG-2025
7	BAHADUR CHAND INVESTMENTS PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON OUTSOURCING DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON APPOINTMENT OF INDEPENDENT DIRECTORS/CHIEF INFORMATION OFFICER/CHIEF TECHNOLOGY OFFICER DID NOT MAKE DISCLOSURE OF COMPONENTS OF ADJUSTED NET WORTH AND OTHER RELATED INFORMATION IN ITS ANNUAL FINANCIAL STATEMENTS	IMPOSED PENALTY RS.30,00,000 06-JAN-2023
8	BAJAJ FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS DELAY IN REPORTING OF FRAUDS TO RBI AND/OR NABARD	IMPOSED PENALTY RS.8,50,000 28-SEP-2023
9	BAJAJ FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON CREDIT CARD OPERATIONS OF BANKS READ WITH GUIDELINES ON MANAGING RISKS AND CODE OF CONDUCT IN OUTSOURCING OF FINANCIAL SERVICES BY BANKS DID NOT ADHERE TO THE SPECIFIC DIRECTION OF RBI TO ENSURE FULL COMPLIANCE WITH FAIR PRACTICES CODE (FPC) IN LETTER AND SPIRIT	IMPOSED PENALTY RS.2,50,00,000 05-JAN-2021
10	BAJAJ FINANCE LTD.		VIOLATED FAIR PRACTICES CODE OF MASTER DIRECTION DNBR.PD.008/03.10.119/2016-17 DATED 01/09/2016	IMPOSED PENALTY RS.1,00,00,000 14-JAN-2019
11	BAJAJ HOUSING FINANCE LTD.		DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS	IMPOSED PENALTY RS.5,00,000 29-JAN-2024
12	BAJIRAO APPA SAHAKARI BANK LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL INTER-BANK (GROSS) EXPOSURE LIMITS AND/OR INTER-BANK COUNTER PARTY EXPOSURE LIMITS DID NOT ADHERE TO “KNOW YOUR CUSTOMER” DIRECTIVES/INSTRUCTIONS/GUIDELINES IN OPENING AND/OR OPERATING THE ACCOUNTS DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS	IMPOSED PENALTY RS.2,00,000 29-MAY-2023
13	BALAJI INSTALMENTS LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI VIDE NON-BANKING FINANCIAL COMPANY-RETURNS (RESERVE BANK) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2016 DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON NON-BANKING FINANCIAL COMPANY-ACCEPTANCE OF PUBLIC DEPOSITS (RESERVE BANK) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 1998	IMPOSED PENALTY RS.9,50,000 03-MAY-2021
14	BELSTAR MICROFINANCE LTD.		OUTSOURCED DECISION-MAKING FUNCTIONS OF DETERMINING COMPLIANCE WITH KYC (KNOW YOUR CUSTOMER) NORMS TO CERTAIN OUTSOURCED AGENTS	IMPOSED PENALTY RS.3,10,000 09-MAY-2024
15	BERAR FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC REVIEW OF RISK CATEGORISATION OF CUSTOMERS AND/OR ACCOUNTS DID NOT PUT IN TO USE ANY ROBUST SOFTWARE AS A PART OF EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS	IMPOSED PENALTY RS.10,54,000 07-DEC-2023
16	BRIDGE FINTECH SOLUTIONS 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 ENSURE THAT ITS AGREEMENTS WITH SERVICE PROVIDERS INCLUDED CLAUSES TO RECOGNIZE THE RIGHT OF RBI TO CAUSE INSPECTION TO BE MADE OF THE SERVICE PROVIDERS AND UNDERTAKE ANNUAL REVIEW OF THE SERVICE PROVIDERS DID NOT CONDUCT PERIODIC REVIEW OF COMPLIANCE OF FAIR PRACTICES CODE AND FUNCTIONING OF GRIEVANCES REDRESSAL MECHANISM	IMPOSED PENALTY RS.10,00,000 04-MAR-2025
17	DAIMLER FINANCIAL SERVICES INDIA PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON MONITORING OF FRAUDS IN NBFCS	IMPOSED PENALTY RS.5,00,000 05-MAY-2022
18	DAIMLER FINANCIAL SERVICES INDIA PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI BY CHANGING ITS MANAGEMENT WITHOUT PRIOR APPROVAL OF RESERVE BANK OF INDIA DID NOT ADHERE TO RBI COMMERCIAL PAPER DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2017	IMPOSED PENALTY RS.10,00,000 19-MAY-2021
19	DATSON EXPORTS LTD.		OUTSOURCED ONE OF ITS DECISION-MAKING FUNCTIONS VIZ. SANCTION OF LOANS TO ITS DIGITAL LENDING APPLICATION (DLA) PARTNER	IMPOSED PENALTY RS.1,00,000 15-JAN-2025
20	DHANI LOANS & SERVICES LTD.		DID NOT IDENTIFY BENEFICIAL OWNER IN RESPECT OF ENTITIES ONBOARDED BY IT TO PROVIDE PAYOUT SERVICES DID NOT ALLOT UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC) TO INDIVIDUALS CUSTOMERS	IMPOSED PENALTY RS.20,00,000 14-SEP-2023
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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