Case Brief
RBI, by order dated June 3, 2025, imposed a monetary penalty of ₹2 lakh on PayMe India Financial Services Private Limited. The regulator said the company did not comply with specific conditions of its Certificate of Registration under Section 45IA(5) of the RBI Act and certain provisions of the NBFC Master Directions and Scale Based Regulation Directions. After a show-cause notice and hearing, RBI sustained charges that the company accepted public deposits in violation of its CoR conditions and failed to obtain prior written RBI permission for a shareholding change beyond 26% of paid-up equity capital.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- NBFC
- Action Type
- Monetary penalty