Recorded RBI impact
Fine: Rs 6.20 L
Monetary penalty · Fresh imposition
Published by RBI
5 Dec 2025
Case Brief
By an order dated December 2, 2025, RBI imposed a monetary penalty of ₹6.20 lakh on Bansal Credits Limited for non-compliance with provisions of the RBI (Know Your Customer (KYC)) Directions. RBI said the company failed to put in place a system for alerts to effectively identify, monitor and report suspicious transactions, and also failed to upload customers’ KYC records to the Central KYC Records Registry. The penalty was imposed under the RBI Act after inspection, a show-cause notice, and consideration of the company’s reply and oral submissions.
Why RBI Acted
RBI imposed a monetary penalty on Bansal Credits Limited for non-compliance with certain provisions of the RBI (Know Your Customer (KYC)) Directions. The supervisory findings sustained charges that the company did not put in place any system for generating alerts for effective identification, monitoring and reporting of suspicious transactions, and did not upload customers’ KYC records to the Central KYC Records Registry. The penalty was imposed under section 58G(1)(b) read with section 58B(5)(aa) of the RBI Act, 1934, after a show-cause notice and consideration of the company’s reply and oral submissions.
Operating Impact
Bansal Credits Limited must absorb the monetary penalty and address the cited KYC control gaps. Going forward, it is expected to implement suspicious-transaction alerting and ensure timely CKYCR uploads; the release also notes that RBI may initiate other action separately if warranted.
Regulatory Basis
- section 58G(1)(b)
- section 58B(5)(aa)
- Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- Fine: Rs 6.20 L
- Order Date
- 2 Dec 2025
- Effective From
- 2 Dec 2025
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC