Case Brief
By an order dated December 2, 2025, RBI imposed a monetary penalty of ₹6.20 lakh on Bansal Credits Limited for non-compliance with provisions of the RBI (Know Your Customer (KYC)) Directions. RBI said the company failed to put in place a system for alerts to effectively identify, monitor and report suspicious transactions, and also failed to upload customers’ KYC records to the Central KYC Records Registry. The penalty was imposed under the RBI Act after inspection, a show-cause notice, and consideration of the company’s reply and oral submissions.
Action Snapshot
- Primary Impact
- Fine: Rs 6.20 L
- Entity Type
- NBFC
- Action Type
- Monetary penalty