Case Brief
By an order dated May 03, 2021, RBI imposed a monetary penalty on Jumbo Finvest (India) Limited, Jaipur. The company was found non-compliant with certain provisions of the NBFC Directions, 2016 and the RBI KYC Directions, 2016, based on findings from a statutory inspection as of March 31, 2019. After a show-cause process, RBI concluded the contraventions were substantiated and imposed the penalty under the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 25.5 L
- Entity Type
- NBFC
- Location
- Jaipur
- Order Date