RBI imposes monetary penalty on Jupiter Capital Private Limited, Bengaluru

Case Brief

By an order dated August 03, 2022, RBI imposed a monetary penalty of ₹81.92 lakh on Jupiter Capital Private Limited, Bengaluru. The penalty was levied for non-compliance with provisions of the Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016 and RBI directions on Membership of Credit Information Companies, based on inspection findings that the company did not comply with requirements for submission of credit information to CRILC and to CICs. RBI issued a show-cause notice, considered the company’s reply, and then concluded that the non-compliance was substantiated and warranted the penalty.