SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-AUG-2025

NBFC: DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF KYC (KNOW YOUR CLIENTS) OF CERTAIN CUSTOMERS WITHIN PRESCRIBED PERIODICITY

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	HEWLETT PACKARD FINANCIAL SERVICES (INDIA) PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF KYC (KNOW YOUR CLIENTS) OF CERTAIN CUSTOMERS WITHIN PRESCRIBED PERIODICITY DID NOT MAKE DISCLOSURE TO RETAIL BORROWERS, GRADATION OF RISK AND RATIONALE FOR CHARGING DIFFERENT INTEREST RATES TO DIFFERENT CATEGORIES OF BORROWERS IN LOAN APPLICATION FORM/SANCTION LETTER DID NOT FORM IT STRATEGY COMMITTEE AND IT STEERING COMMITTEE	IMPOSED PENALTY RS.10,40,000 03-SEP-2024
2	SHRIRAM FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF KYC (KNOW YOUR CLIENTS) OF CERTAIN CUSTOMERS WITHIN PRESCRIBED PERIODICITY DID NOT ENSURE THAT ITS AGREEMENTS WITH CERTAIN DIRECT SALES AGENTS HAD A CLAUSE REGARDING RBI’S RIGHT TO INSPECT BOOKS AND ACCOUNTS OF SERVICE PROVIDERS DID NOT SHARE INFORMATION ABOUT RELATIONSHIP SEGMENT OF CORPORATES TO CREDIT INFORMATION COMPANIES	IMPOSED PENALTY RS.5,80,000 10-FEB-2025
3	SUNDARAM HOME FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CARRYING OUT PERIODIC UPDATION OF KYC (KNOW YOUR CLIENTS) OF CERTAIN CUSTOMERS WITHIN PRESCRIBED PERIODICITY	IMPOSED PENALTY RS.1,50,000 09-MAY-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.