Case Brief
RBI, by order dated March 03, 2025, imposed a monetary penalty on JM Financial Products Limited after a statutory inspection and show-cause process found non-compliance with RBI directions applicable to systemically important NBFCs. RBI sustained the charge that the company did not disclose a material related party transaction in its Annual Report. The action was taken under Section 58G read with Section 58B of the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 3.10 L
- Entity Type
- NBFC
- Action Type
- Monetary penalty
- Order Date