Case Brief
By an order dated July 13, 2026, RBI imposed a monetary penalty of ₹2.70 lakh on Muthoot Vehicle and Asset Finance Limited. The penalty followed a statutory inspection and show-cause process, and RBI found that the company had failed to put in place a system for periodic review of risk categorisation of accounts at least once in six months, in violation of RBI’s KYC Directions issued under the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 2.70 L
- Entity Type
- NBFC
- Action Type
- Monetary penalty
- Order Date