Case Brief
By an order dated March 27, 2025, RBI imposed a monetary penalty of ₹50,000 on Purvaja Fincap Pvt. Ltd. for non-compliance with the Master Direction - Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023. RBI found that the company had prematurely redeemed subordinated debts without RBI's consent. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934, after considering the company's reply and oral submissions.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- NBFC
- Location
- Tamil Nadu
- Order Date