Case Brief
By an order dated June 18, 2026, RBI imposed a monetary penalty of ₹3.10 lakh on Pahal Financial Services Private Limited after a statutory inspection and show-cause proceedings. RBI found that the company had not complied with certain provisions of the RBI (Know Your Customer (KYC)) Directions, specifically that it failed to put in place a robust software system for effective identification and reporting of suspicious transactions. 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 3.10 L
- Entity Type
- NBFC
- Action Type
- Monetary penalty