Case Brief
The Reserve Bank of India imposed a monetary penalty on Sahara Housingfina Corporation Limited, West Bengal, after finding non-compliance with RBI directions on Know Your Customer (KYC). The specific lapse sustained was the company’s failure to upload customer KYC records to the Central KYC Records Registry (CKYCR) within the prescribed timeline. The action was taken under Section 52A of the National Housing Bank Act, 1987, following a statutory inspection by the National Housing Bank and subsequent show-cause proceedings.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- NBFC
- Location
- West Bengal
- Order Date