RBI imposes monetary penalty on Keertana Finserv Limited

Case Brief

By an order dated December 02, 2025, RBI imposed a monetary penalty of ₹3.10 lakh on Keertana Finserv Limited (formerly Keertana Finserv Private Limited). The penalty was imposed after RBI’s statutory inspection found non-compliance with RBI directions on governance issues: the company failed to obtain prior written permission before appointing a director, resulting in a change in management because more than 30% of its directors, excluding independent directors, changed. RBI stated that the action was taken under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934 and was based on supervisory findings and the company’s response to a show-cause notice and personal hearing.