RBI imposes monetary penalty on Fusion Finance Limited

Case Brief

By an order dated August 14, 2026, RBI imposed a monetary penalty of ₹2.70 lakh on Fusion Finance Limited. The action followed a statutory inspection as of March 31, 2025, and a show-cause notice based on supervisory findings of non-compliance with RBI directions. RBI concluded that the company failed to maintain a system for periodic review of the risk categorisation of accounts at least once every six months, in breach of the RBI’s KYC Directions. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934, after considering the company’s reply and oral submissions.