Regulatory Alerts2026-08-07
Added
RBI imposes monetary penalty on Namdev Finvest Limited
The Reserve Bank of India imposed a monetary penalty of ₹2.70 lakh on Namdev Finvest Limited for non-compliance with the Reserve Bank of India (Know Your Customer (KYC)) Directions. The penalty was levied because the company failed to implement robust software for the effective identification and reporting of suspicious transactions. This decision follows a statutory inspection and a show-cause notice issued after supervisory findings of non-compliance.
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