REGULATING NON-BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country’s financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.

Press Release

(147 kb)

Date : Jan 14, 2019

RBI imposes monetary penalty on Bajaj Finance Ltd

The Reserve Bank of India (RBI) has imposed, by an order dated January 03, 2019, a monetary penalty of ₹ 10.0 million on Bajaj Finance Ltd. (the NBFC) for violation of Fair Practices Code of Master Direction DNBR. PD. 008/03.10.119/2016-17 dated September 01, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the NBFC with its customers.

Anirudha D. Jadhav
Assistant Manager

Press Release : 2018-2019/1645

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