Case Brief
RBI, by order dated February 10, 2026, imposed a monetary penalty on Navi Finserv Limited after a statutory inspection and supervisory review found non-compliance with RBI directions on 'Recovery Agents'. The sustained charge was that the company contacted customers after 7:00 p.m. and before 8:00 a.m. for recovery of overdue loans and did not follow the due protocol while sending messages to customers. The penalty was imposed under section 58G(1)(b) read with section 58B(5)(aa) of the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 3.80 L
- Entity Type
- NBFC
- Action Type
- Monetary penalty