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RBI Fines Rs 76.6 Lakh on 4 NBFCs for Non-Compliance.

Banking & Finance | Dated: 10 Mar 2025

In March 2025, Mumbai (Maharashtra)-based Reserve Bank of India (RBI) imposed a penalty of Rs 76.6 lakh on four Non-Banking Financial Companies (NBFCs) for non-compliance with certain sections of its orders regarding the 'Peer-to-Peer (P2P) lending platform'.

🎯 Key Highlights:

  • - The penalties are based on deficiencies in regulatory compliance and do not impact the validity of any transactions or agreements between these entities and their customers.

💡 Other Important Facts:

  • (i) These penalties were imposed due to non-compliance with certain provisions of the 'NBFC - P2P Lending Platform (Reserve Bank) Directions, 2017'.
  • (ii) A penalty of Rs 40 lakh was imposed on Gurugram (Haryana)-based Fairassets Technologies India Private Limited, and penalties of Rs 10 lakh each were imposed on Mumbai-based Bridge Fintech Solutions Private Limited and Bengaluru (Karnataka)-based Rang De P2P Financial Services Private Limited.
  • (iii) The RBI also imposed a penalty of Rs 16.6 lakh on Mumbai-based Visionary Financepeer Private Limited.

📚 Test Your Knowledge:

Recently, how much penalty did the RBI impose on four NBFCs for non-compliance?

Correct Answer: 76.6 lakh

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai