RBI Enforcement Tracker

ARC

08 Sep 2026

Asset Care & Reconstruction Enterprise Limited

₹27.3 L penalty

Violated the regulatory requirement on the charging of management fees.

Prudential & Governance

NBFC-ICC

02 Sep 2026

Hinduja Leyland Finance Limited

₹6.2 L total penalty

Did not put in place a board-approved policy on the pricing of microfinance loans.

Undertook activities in the nature of synthetic securitisation, which the Securitisation of Standard Assets directions do not permit.

Multiple reasons

Fair Practices CodePrudential & Governance

CIC

31 Aug 2026

TransUnion CIBIL Limited

₹26.83 L penalty

Did not credit the compensation amount to the bank accounts of certain eligible complainants within the prescribed period.

Credit Reporting

CIC

31 Aug 2026

CRIF High Mark Credit Information Services Private Limited

₹6.9 L penalty

Did not credit the compensation amount to the bank accounts of certain eligible complainants within the prescribed period.

Credit Reporting

NBFC-HFC

31 Aug 2026

Sammaan Finserve Limited

₹4.2 L penalty

Did not report credit information of a borrower to the Central Repository of Information on Large Credits.

Credit Reporting

CIC

31 Aug 2026

Equifax Credit Information Services Private Limited

₹1.19 L penalty

Did not credit the compensation amount to the bank accounts of certain eligible complainants within the prescribed period.

Credit Reporting

NBFC-ICC

19 Aug 2026

Progfin Private Limited

₹2.7 L penalty

Did not have a system for periodic review of the risk categorisation of accounts, which must happen at least once in six months.

KYC & CKYCR

NBFC-ICC

19 Aug 2026

Shri Ram Finance Corporation Private Limited

₹8.1 L total penalty

Did not take prior written permission of RBI while appointing a director, which changed more than 30 per cent of its directors, excluding independent directors, and so amounted to a change in management.

Did not have a system to categorise its customers as low, medium or high risk.

Did not upload KYC records of certain customers onto the Central KYC Records Registry within the prescribed timeline.

Multiple reasons

Change of ControlKYC & CKYCR

NBFC-ICC

14 Aug 2026

Muthoot MCred Limited

₹3.1 L penalty

Upgraded certain non-performing loan accounts to standard without the entire arrears of interest and principal across all credit facilities being repaid.

Prudential & Governance

Bank-Private

14 Aug 2026

IndusInd Bank Limited

₹59.2 L total penalty

Paid interest on deposits held in certain current accounts.

Undertook activities in the nature of synthetic securitisation, which the Securitisation of Standard Assets directions do not permit.

Multiple reasons

Prudential & Governance

NBFC-ICC

14 Aug 2026

Northern Arc Capital Limited

₹6.2 L total penalty

Did not disclose correct and complete information about customer complaints in its annual financial statements for FY2024-25.

Did not ensure auto-escalation to its Internal Ombudsman of certain complaints that its internal grievance redress mechanism had partly or wholly rejected.

Multiple reasons

Prudential & GovernanceInternal Ombudsman

NBFC-MFI

14 Aug 2026

Fusion Finance Limited

₹2.7 L penalty

Did not have a system for periodic review of the risk categorisation of accounts, which must happen at least once in six months.

KYC & CKYCR

NBFC-ICC

11 Aug 2026

Valuefin India Credit Services Private Limited

₹1.8 L penalty

Did not obtain prior written permission of RBI for a change in shareholding exceeding 26 per cent of its paid-up equity capital.

Change of Control

NBFC-ICC

03 Aug 2026

Utsav Securities Limited

₹3.9 L total penalty

Its Key Management Personnel held office, including directorships, in other Middle Layer NBFCs.

Did not submit credit information of certain loan accounts to the Credit Information Companies.

Multiple reasons

Prudential & GovernanceCredit Reporting

NBFC-ICC

03 Aug 2026

Namdev Finvest Limited

₹2.7 L penalty

Did not put in place robust software for effective identification and reporting of suspicious transactions.

KYC & CKYCR

NBFC-ICC

03 Aug 2026

Infinity Fincorp Solutions Private Limited

₹5.4 L total penalty

Did not have a system for periodic review of the risk categorisation of accounts, which must happen at least once in six months.

Did not disclose in application forms and sanction letters the approach for gradation of risk and the rationale for charging different interest rates to different categories of borrowers.

Multiple reasons

KYC & CKYCRFair Practices Code

NBFC-ICC

15 Jul 2026

Dhani Loans and Services Limited

₹2.7 L penalty

Did not classify certain loan accounts as non-performing assets.

Prudential & Governance

NBFC-ICC

13 Jul 2026

Muthoot Vehicle and Asset Finance Limited

₹2.7 L penalty

Did not have a system for periodic review of the risk categorisation of accounts, which must happen at least once in six months.

KYC & CKYCR

NBFC-ICC

13 Jul 2026

PAN Emami Cosmed Limited

₹3.1 L penalty

Breached the prescribed regulatory limit for credit exposure to a single group of parties.

Prudential & Governance

NBFC-MFI

13 Jul 2026

Satya MicroCapital Limited

₹3.1 L penalty

Did not reclassify certain accounts as non-performing assets upon restructuring.

Prudential & Governance

NBFC-ICC

10 Jul 2026

Muthoot Finance Limited

₹5.8 L total penalty

Did not have a system for periodic review of the risk categorisation of accounts.

Did not have robust software that throws alerts when transactions are inconsistent with a customer's risk category and updated profile, as part of identifying and reporting suspicious transactions.

Multiple reasons

KYC & CKYCR

NBFC-ICC

10 Jul 2026

Avail Financial Services Limited

₹6.2 L total penalty

Its Managing Director held directorships in two other Middle Layer NBFCs.

Breached the regulatory single-party exposure limit.

Multiple reasons

Prudential & Governance

Bank-Public

30 Jun 2026

Bank of Baroda

₹63.6 L total penalty

Collected interest higher than the contracted rate in certain loan accounts.

Did not upload KYC records of certain customers onto the Central KYC Records Registry within the prescribed timeline.

Multiple reasons

Fair Practices CodeKYC & CKYCR

NBFC-HFC

24 Jun 2026

GIC Housing Finance Limited

₹3.1 L penalty

Did not have a system for periodic review of the risk categorisation of accounts, which must happen at least once in six months.

KYC & CKYCR

NBFC-MFI

18 Jun 2026

Pahal Financial Services Private Limited

₹3.1 L penalty

Did not put in place robust software for effective identification and reporting of suspicious transactions.

KYC & CKYCR

NBFC-HFC

18 Jun 2026

Can Fin Homes Limited

₹2.7 L penalty

Did not clearly indicate the split between interest and principal in the loan instalments collected from borrowers.

Fair Practices Code

NBFC-ICC

18 Jun 2026

Five Star Business Finance Limited

₹6.2 L total penalty

Did not put in place robust software for effective identification and reporting of suspicious transactions.

Did not disclose in application forms and sanction letters the approach for gradation of risk and the rationale for charging different interest rates to different categories of borrowers.

Multiple reasons

KYC & CKYCRFair Practices Code

Bank-Public

05 Jun 2026

Canara Bank

₹41.8 L total penalty

Did not upload KYC records of certain customers onto the Central KYC Records Registry within the prescribed timeline.

Classified certain accounts as inoperative even though the last customer-induced transaction in those accounts was less than one year old.

Multiple reasons

KYC & CKYCRCustomer Protection

NBFC-MFI

05 Jun 2026

IIFL Samasta Finance Limited

₹3.9 L total penalty

Did not put in place robust software for effective identification and reporting of suspicious transactions.

Did not disclose correct details of frauds reported for FY2024-25 in the notes to accounts of its financial statements.

Multiple reasons

KYC & CKYCRPrudential & Governance

NBFC-ICC

05 Jun 2026

True Credits Private Limited

₹3.1 L penalty

Did not undertake Enhanced Due Diligence for certain customers onboarded through non-face-to-face modes.

KYC & CKYCR

NBFC-HFC

05 Jun 2026

Repco Home Finance Limited

₹0.7 L penalty

Did not disclose in application forms and sanction letters the approach for gradation of risk and the rationale for charging different interest rates to different categories of borrowers.

Fair Practices Code

NBFC-ICC

27 May 2026

Puran Associates Private Limited

₹3.1 L penalty

Did not reclassify certain accounts as non-performing assets upon restructuring.

Prudential & Governance

NBFC-MFI

25 May 2026

CreditAccess Grameen Limited

₹3.1 L penalty

Did not have robust software that throws alerts when transactions are inconsistent with a customer's risk category and updated profile, as part of identifying and reporting suspicious transactions.

KYC & CKYCR

Bank-Private

20 May 2026

City Union Bank Limited

₹10.1 L total penalty

Levied loan-related charges on certain agriculture priority sector loans of up to ₹25,000.

Did not report Self Help Group member-level data to Credit Information Companies.

Multiple reasons

Customer ProtectionCredit Reporting

NBFC-ICC

18 May 2026

AKG Infin Private Limited

₹1.8 L penalty

Did not obtain prior written permission of RBI for a change in shareholding exceeding 26 per cent of its paid-up equity capital.

Change of Control

NBFC-ICC

15 May 2026

Mintifi Finserve Private Limited

₹3.1 L penalty

Did not upload KYC records of certain customers onto the Central KYC Records Registry within the prescribed timeline.

KYC & CKYCR

NBFC-ICC

15 May 2026

Newa Investments Private Limited

₹2.7 L penalty

Did not take prior written permission of RBI while appointing directors, which changed more than 30 per cent of its directors, excluding independent directors, and so amounted to a change in management.

Change of Control

NBFC-ICC

11 May 2026

IIFL Finance Limited

₹3.1 L penalty

Did not pay certain borrowers the surplus realised from auctioning pledged gold articles over and above the loan outstanding.

Customer Protection

PPI

11 May 2026

Appnit Technologies Private Limited

₹5.8 L total penalty

Allowed PPI accounts opened using Aadhaar OTP-based e-KYC to continue for more than one year without carrying out identification as required by the KYC Directions.

Did not have a system for periodic review of the risk categorisation of accounts, which must happen at least once in six months.

Multiple reasons

KYC & CKYCR

Bank-RRB

04 May 2026

Himachal Pradesh Gramin Bank

₹5 L total penalty

Did not transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time.

Did not pay interest on certain term deposits from the date of maturity until the date of repayment.

Multiple reasons

Customer Protection

Bank-Private

27 Apr 2026

Yes Bank Limited

₹31.8 L penalty

Did not put in place a system for using the KYC Identifier assigned by the Central KYC Records Registry when establishing account-based relationships with customers.

KYC & CKYCR

NBFC-HFC

27 Apr 2026

Hinduja Housing Finance Limited

₹1.8 L penalty

Did not take prior written permission of RBI before a change in management arising from a change of more than 30 per cent of its directors, excluding independent directors.

Change of Control

Bank-Payment

24 Apr 2026

Paytm Payments Bank Limited

Licence cancelled

RBI cancelled its banking licence under section 22(4) of the Banking Regulation Act, effective from close of business on 24 April 2026, finding that its affairs were conducted in a manner detrimental to the interest of the bank and its depositors, that the general character of its management was prejudicial to the interest of depositors and the public, that no useful purpose would be served by allowing it to continue, and that it had failed to comply with the conditions of its payments bank licence. RBI stated that the bank has enough liquidity to repay its entire deposit liability and that it will apply to the High Court for winding up.

Prudential & Governance

NBFC-HFC

21 Apr 2026

Muthoot Housing Finance Company Limited

₹0.8 L penalty

Did not disclose in application forms and sanction letters the approach for gradation of risk and the rationale for charging different interest rates to different categories of borrowers.

Fair Practices Code

Bank-Private

21 Apr 2026

Bandhan Bank Limited

₹41.8 L total penalty

Did not carry out periodic review of the risk categorisation of certain categories of accounts.

Sanctioned director-related loans, in contravention of section 20(1)(b)(iii) of the Banking Regulation Act.

Multiple reasons

KYC & CKYCRPrudential & Governance

PSO

17 Apr 2026

Ebix Payment Services Private Limited

₹0.8 L penalty

Did not carry out risk categorisation of its customers.

KYC & CKYCR

Bank-Payment

30 Mar 2026

Airtel Payments Bank Limited

₹31.8 L penalty

The charge of non-disclosure of certain complaints in its annual financial statements for FY 2024-25 was sustained.

Prudential & Governance

Bank-Public

27 Mar 2026

Central Bank of India

₹63.6 L total penalty

Did not upload the KYC records of certain customers onto the Central KYC Records Registry within the prescribed timeline.

Opened additional BSBD accounts for certain customers who already held BSBD accounts in the bank.

Multiple reasons

KYC & CKYCRCustomer Protection

NBFC-ICC

27 Mar 2026

Exclusive Capital Limited

₹10.3 L total penalty

Breached the permissible leverage ratio limit.

Did not submit certain supervisory returns to RBI at the prescribed frequency and within the stipulated timelines.

Did not furnish its balance sheet to RBI within the stipulated period.

Multiple reasons

Prudential & Governance

NBFC-ICC

27 Feb 2026

Mahindra & Mahindra Financial Services Ltd

₹11.5 L total penalty

Levied revised foreclosure charges on certain borrower accounts without incorporating a suitable condition in their loan agreements.

Did not ensure escalation of certain rejected complaints to the Internal Ombudsman within the prescribed time, and did not communicate the final decision to the complainant within the prescribed time in certain cases.

Multiple reasons

Fair Practices CodeInternal Ombudsman

Bank-Public

13 Feb 2026

Bank of Maharashtra

₹32.5 L total penalty

Did not report Self Help Group member-level data to Credit Information Companies.

Did not identify Beneficial Owners in certain accounts.

Multiple reasons

Credit ReportingKYC & CKYCR

NBFC-ICC

05 Jan 2026

Shaha Finlease Private Limited

₹0.1 L penalty

Failed to put in place a system of periodical review of compliance with the Fair Practices Code.

Fair Practices Code

Bank-Private

19 Dec 2025

Kotak Mahindra Bank

₹61.95 L total penalty

Opened another BSBD account for certain customers who already held a BSBD account in the bank.

Entered into an arrangement with Business Correspondents for activities outside the scope permitted for BCs.

Furnished inaccurate information for certain borrowers to Credit Information Companies.

Multiple reasons

Customer ProtectionCredit Reporting

Bank-Private

05 Dec 2025

Jammu & Kashmir Bank Ltd

₹99.3 L total penalty

Certain complaints partly/wholly rejected by the internal grievance mechanism were not escalated to the Internal Ombudsman for a final decision.

Did not send final letters to customers on complaint redressal, so customers were not made aware of their right to approach the Banking Ombudsman.

Did not transfer eligible amounts in certain accounts to the Depositor Education and Awareness Fund within the stipulated period.

Did not have face-matching technology in the Video-based Customer Identification Process and did not confirm the customer's economic/financial profile during V-CIP.

Multiple reasons

Internal OmbudsmanCustomer ProtectionKYC & CKYCR

NBFC-ICC

20 Nov 2025

Glowmore Finance Private Limited

₹4 L penalty

Failed to obtain prior written permission of RBI for a change in management resulting in change of more than 30 per cent of its directors, excluding independent directors.

Change of Control

NBFC-ICC

26 Sep 2025

Muthoot FinCorp Ltd

₹2.7 L penalty

Did not establish a system of auto-escalation of complaints partly or wholly rejected by the internal grievance redress mechanism to its Internal Ombudsman.

Internal Ombudsman

PPI

12 Sep 2025

PhonePe Limited

₹21 L penalty

End-of-day balance in the escrow account was less than the value of outstanding PPIs and payments due to merchants on certain days, and the shortfall was not reported to RBI immediately.

Prudential & Governance

NBFC-HFC

03 Jun 2025

India Home Loan Ltd

₹0.32 L total penalty

Failed to carry out periodic review of risk categorisation of accounts at least once every six months.

Failed to conduct periodic updation of KYC of its customers.

Multiple reasons

KYC & CKYCR

NBFC-ICC

29 May 2025

N.Y. Leasing Pvt Ltd

CoR cancelled

Violated RBI guidelines on outsourcing of financial services by outsourcing core decision-making functions, sourcing, due diligence, disbursement, collections, and KYC verification to a Service Provider in its digital lending operations.

Outsourcing

NBFC-P2P

23 May 2025

Transactree Technologies Pvt Ltd (Lendbox)

₹40 L total penalty

Routed amounts disbursed and collected in loan accounts through a co-lending escrow account, in violation of the laid-down Fund Transfer Mechanism.

Did not disclose the credit assessment and risk profile of borrowers to prospective lenders, and disbursed loans without the specific approval of individual lenders.

Multiple reasons

Fair Practices CodePrudential & Governance

Bank-Foreign

16 May 2025

Deutsche Bank AG

₹50 L penalty

Did not report credit information of certain borrowers to the Central Repository of Information on Large Credits (CRILC).

Credit Reporting

Bank-Public

09 May 2025

State Bank of India

₹100.72 L total penalty

Extended a bridge loan against amounts receivable from Central/State Government by way of subsidy or reimbursement.

Did not credit (shadow reversal) amounts in unauthorised electronic transactions within 10 working days, and did not compensate certain customers within 90 days of complaint.

Opened/maintained certain current accounts in contravention of regulatory requirements.

Multiple reasons

Customer ProtectionPrudential & Governance

Bank-SFB

09 May 2025

Jana Small Finance Bank

₹100 L penalty

Allotted CCPS to certain persons whose combined holding exceeded the permitted percentage of paid-up share capital, without ensuring prior RBI approval under Section 12B(1) of the BR Act.

Prudential & Governance