RBI imposes monetary penalty on Puran Associates Private Limited
Case Brief
RBI, by order dated May 27, 2026, imposed a monetary penalty on Puran Associates Private Limited after a statutory inspection and subsequent show-cause process. The company was found to have failed to comply with RBI directions on asset classification, specifically by not reclassifying certain accounts as non-performing assets upon restructuring. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934.
RBI imposed a monetary penalty under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934 after a statutory inspection found non-compliance with RBI directions on ‘Asset Classification’. The sustained charge was that the company failed to reclassify certain accounts as non-performing assets upon restructuring.
Severity Assessment
This is a monetary penalty of ₹3.10 lakh, which falls in the lowest monetary band and there is no additional operational restriction.
Puran Associates Private Limited must absorb the monetary penalty and may face further action, as RBI stated the penalty is without prejudice to any other action that may be initiated. There is no stated restriction on operations in this release.
Published as Puran Associates Private Limited
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