Case Brief
RBI, by an order dated February 10, 2025, imposed a monetary penalty of ₹6.70 lakh on Ujjivan Small Finance Bank Limited. The penalty was imposed for non-compliance with RBI directions on 'Loans and Advances - Statutory and Other Restrictions'. According to the press release, the bank failed to issue loan agreements to certain borrowers at the time of sanction/disbursement of loans. RBI stated that the action was based on supervisory findings from ISE 2023 and was taken under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 6.70 L
- Entity Type
- Bank
- Action Type
- Monetary penalty