Case Brief
The Reserve Bank of India imposed a monetary penalty on IIFL Finance Limited by order dated February 06, 2026. The penalty was levied after a statutory inspection and show-cause process, and RBI found that the company had failed to classify certain accounts as non-performing assets on restructuring, contrary to RBI directions on asset classification. The action was taken under section 58G(1)(b) read with section 58B(5)(aa) of the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 53,000
- Entity Type
- NBFC
- Action Type
- Monetary penalty
- Order Date