SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 11-OCT-2025

NBFC: DID NOT CONDUCT DUE DILIGENCE ON LENDING SERVICE PROVIDERS (LSPS) TO ASSESS THEIR COMPETENCE, SECURITY AND INTERNAL CONTROLS, ULTIMATE BENEFICIAL OWNERS, NATIONALITY/ SHAREHOLDING PATTERN ETC.

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	ZAVRON FINANCE PVT.LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON CODE OF CONDUCT IN OUTSOURCING OF FINANCIAL SERVICES IN ITS DIGITAL LENDING OPERATIONS BY OUTSOURCING CORE DECISION-MAKING FUNCTIONS DID NOT CONDUCT DUE DILIGENCE ON LENDING SERVICE PROVIDERS (LSPS) TO ASSESS THEIR COMPETENCE, SECURITY AND INTERNAL CONTROLS, ULTIMATE BENEFICIAL OWNERS, NATIONALITY/ SHAREHOLDING PATTERN ETC. DID NOT CARRY OUT PERIODIC REVIEW OF SECURITY PRACTICES/CONTROL PROCESSES DEPLOYED BY LSPS TO SECURE CONFIDENTIALITY/SECURITY OF CUSTOMER DATA DID NOT PROVIDE COPY OF LOAN AGREEMENT AND SANCTION LETTER IN VERNACULAR LANGUAGE TO CUSTOMERS	CANCELLED CERTIFICATE OF REGISTRATION FROM 02-DEC-2024 02-DEC-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.