Case Brief
By an order dated August 06, 2025, RBI imposed a penalty on Altum Credo Home Finance Private Limited, Pune, Maharashtra under Section 52A of the National Housing Bank Act, 1987. The penalty followed a statutory inspection by the National Housing Bank and a show-cause notice based on supervisory findings of non-compliance with RBI’s KYC directions. RBI held that the company had failed to put in place a system for periodic review of risk categorisation of accounts, with a minimum frequency of once in six months.
Action Snapshot
- Primary Impact
- Fine: Rs 10,000
- Entity Type
- NBFC
- Location
- Pune, Maharashtra
- Order Date