Regulatory Alerts2026-08-21
Added
RBI imposes monetary penalty on Shri Ram Finance Corporation Private Limited
The Reserve Bank of India imposed a monetary penalty of ₹8.10 lakh on Shri Ram Finance Corporation Private Limited for non-compliance with directions on Governance and Know Your Customer (KYC). The penalty addresses failures to obtain prior written permission for appointing a director when more than 30 percent of directors changed, the absence of a customer risk categorization system, and the failure to upload KYC records to the Central KYC Records Registry within the prescribed timeline.
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