Case Brief
The Reserve Bank of India imposed a monetary penalty on Hewlett-Packard Financial Services (India) Private Ltd by order dated August 03, 2021. RBI said the company failed to comply with certain directions under the NBFC framework and related directives on membership of Credit Information Companies and furnishing of credit information/data. The statutory inspection found issues with submission of credit information to CRILC and credit data to CICs, and RBI imposed the penalty after considering the company’s reply and oral and written submissions.
Action Snapshot
- Primary Impact
- Fine: Rs 6.00 L
- Entity Type
- NBFC
- Location
- Bengaluru
- Order Date