Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 5.00 lakh on Daimler Financial Services India Private Limited, Pune, Maharashtra. RBI found non-compliance with the Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016, specifically a delay in reporting a fraud to RBI through FMR-1. The penalty was issued under the RBI Act, 1934 after a statutory inspection, show-cause notice, and consideration of the company’s reply and personal hearing.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- NBFC
- Location
- Pune, Maharashtra
- Order Date