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The Financial Intelligence Unit (FIU) plays a crucial role in combating financial crimes such as money laundering and terrorist financing. Established as an independent agency, FIUs operate globally to monitor, analyze, and report suspicious financial transactions, ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.

NeSL serves as a centralized repository for financial information, enabling lenders, borrowers, and regulators to access authenticated credit data. By digitizing financial records and ensuring their accuracy, NeSL enhances the credit ecosystem, reducing disputes and expediting insolvency proceedings.

Timely submission of credit data is crucial for maintaining accurate and up-to-date credit records, ensuring lenders have the most recent borrower information for improved credit assessment. It also helps financial institutions comply with RBI guidelines, reducing discrepancies in credit reports and preventing errors that could affect lending decisions.

'Outsourcing' is defined as the NBFC’s use of a third party (either an affiliated entity within a corporate group or an entity that is external to the corporate group) to perform activities on a continuing basis that would normally be undertaken by the NBFC itself, now or in the future. ‘Continuing basis' includes agreements for a limited period.

Fair Practices Code NBFCs having customer interface shall adopt the following guidelines: For the purpose of this paragraph, the term ‘personal loans’ shall have the same meaning as defined in the Annex to the circular on ‘XBRL Returns – Harmonization of Banking Statistics’ dated January 04, 2018.

These Directions shall be called the Master Direction- Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023.

The Reserve Bank of India (RBI) has, by an order dated June 3, 2025, imposed a monetary penalty of ₹2 lakh (Rupees Two Lakh only) on PayMe India Financial Services Private Limited (the company) for non-compliance with specific conditions of Certificate of Registration (CoR) issued by RBI under Section 45IA(5) of Reserve Bank of India Act, 1934 (RBI Act)

The Reserve Bank of India (RBl) has, by an order dated June 3, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Poornawadi Nagarik Sahakari Bank Maryadit Beed, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Management of Advances - UCBs’ and ‘Know Your Customer (KYC)’.

RBI imposes monetary penalty on Ratanchand Shah Sahakari Bank Limited

The Reserve Bank of India (RBI) has, by an order dated June 4, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Adilabad District Co-operative Central Bank Ltd., Telangana (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act

The Reserve Bank of India (RBI) has imposed, by an order dated May 30, 2025, a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on The Bathinda Central Co-operative Bank Ltd., Bathinda, Punjab (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).

The Reserve Bank of India (RBI) has, by an order dated May 30, 2025, imposed a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on The Citizen Co-operative Bank Ltd., Noida

The Reserve Bank of India (RBI) has, by an order dated May 19, 2025, imposed a monetary penalty of ₹16,000 (Rupees Sixteen Thousand only) on Khush Housing Finance Private Limited, Mumbai, Maharashtra (the company) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’.

Date: Jun 03, 2025. Srinagar The Reserve Bank of India (RBI) has, by an order dated May 30, 2025, imposed a monetary penalty of ₹2 lakh...

The Reserve Bank of India (RBI) has, by an order dated May 27, 2025, imposed a monetary penalty of ₹32,000 (Rupees Thirty Two Thousand only) on India Home Loan Ltd.,