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

Banking & Finance

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'.


      - 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.

     

     

Main Point :-   (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.
About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai
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