RBI imposes monetary penalty on Utsav Securities Limited

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( 308 kb ) Date : Aug 07, 2026 RBI imposes monetary penalty on Utsav Securities Limited

The Reserve Bank of India (RBI) has, by an order dated August 03, 2026, imposed a monetary penalty of ₹3.90 lakh (Rupees Three lakh ninety thousand only) on Utsav Securities Limited (the company) for non-compliance with certain provisions of the directions issued by RBI on ‘Governance’ and ‘Submission of data to Credit Information Companies (CICs)’. This penalty has been imposed in exercise of powers conferred on RBI under section 58(G)(1)(b) read with section 58(B)(5)(aa) of the Reserve Bank of India Act, 1934 and section 25(1)(iii) read with section 23(4) of Credit Information Companies (Regulation) Act, 2005.

The Statutory Inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2025. Based on the supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions.

After considering the company’s reply to the notice, RBI found that the following charges against the company were sustained, warranting imposition of monetary penalty:

i. The Key Management Personnel (KMP) of the company held office (including directorship) in other NBFCs-Middle Layer; and

ii. The company failed to submit credit information of certain loan accounts to the CICs.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

(Brij Raj)

Chief General Manager

Press Release: 2026-2027/839

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