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RBI Penalizes IIFL Samasta Finance Limited for Regulatory Non-Compliance!

  • 08-Mar-2025
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The Reserve Bank of India (RBI) has imposed a ₹33.10 lakh monetary penalty on IIFL Samasta Finance Limited for failing to adhere to regulatory norms.

🔍 Key Violations Identified:
❌ Charging interest before loan disbursement
❌ Misclassifying NPAs, leading to inaccurate financial reporting
❌ Non-compliance with KYC norms, risking customer identification issues

This action follows RBI’s inspection of the company’s financial status as of March 31, 2023, reinforcing the regulator’s strict stance on:
✅ Fair lending practices
✅ Accurate financial reporting
✅ Strong KYC & compliance measures

📢 A Wake-Up Call for NBFCs!
Non-compliance can lead to heavy penalties & reputational damage. NBFCs must adopt transparent and responsible financial practices to stay compliant and avoid regulatory scrutiny.

📌 Need expert guidance on NBFC compliance & risk management? Book a Free Consultation!
📲 +91 93113 47006

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