Case Brief
RBI imposed a monetary penalty on Vedvyas Finance Private Limited, Odisha by order dated March 16, 2026. The penalty was for non-compliance with RBI directions on governance: the company appointed a director without obtaining prior written permission from RBI, which resulted in a change in management due to change in more than 30% of its directors (excluding independent directors). RBI issued a show-cause notice, considered the company’s reply and oral submissions, and then imposed the penalty under the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 30,000
- Entity Type
- NBFC
- Location
- Odisha
- Order Date