RBI imposes monetary penalty on UCA Finvest Private Limited, New Delhi

Case Brief

The Reserve Bank of India imposed a monetary penalty on UCA Finvest Private Limited by order dated March 27, 2025. RBI said the company had failed to comply with specific conditions attached to its Certificate of Registration issued under Section 45IA(5) of the RBI Act. After reviewing the company's reply and oral submissions, RBI sustained the charge that the company had accepted public funds and had customer interface while sanctioning loans and advances, contrary to the CoR conditions. The penalty was imposed under Section 58G(1)(a) read with Section 58B(6) of the RBI Act and is without prejudice to any other action RBI may initiate.