Daimler Financial Services India Private Limited

RBI imposed a ₹10 lakh penalty on Mercedes-Benz Financial Services India Private Limited, Pune, for KYC non-compliance. The company had failed to perform ongoing due diligence and periodic KYC updation for high-risk customers.

The company must absorb the ₹10 lakh penalty; the release does not describe any operational restriction, but it underscores the need to strengthen KYC controls, especially ongoing due diligence and periodic KYC updates for high-risk customers. No direct restrictions are imposed on customers or counterparties.

• clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934
• Reserve Bank of India (Know Your Customer (KYC)) Direction, 2016

RBI imposed a Rs 5 lakh penalty on Daimler Financial Services India Private Limited, Pune. The company had delayed reporting a fraud to RBI in breach of fraud-monitoring directions for NBFCs.

The company must bear the monetary penalty and ensure future compliance with RBI’s fraud-reporting requirements for NBFCs. The action does not itself restrict operations or invalidate any customer transaction, but it signals regulatory scrutiny over reporting controls.

• clause (b) of sub-section (1) of section 58 G
• clause (aa) of sub-section (5) of section 58 B of the Reserve Bank of India Act, 1934

RBI imposed a ₹10 lakh penalty on Daimler Financial Services India Private Limited, Pune. The penalty was for non-compliance with RBI directions on commercial paper and NBFC regulations.

The company must absorb the ₹10 lakh penalty; the order does not itself suspend or restrict its business operations, but it records regulatory non-compliance and may affect supervisory scrutiny going forward. No direct operational cap or customer-facing restriction is stated in this release.

• clause (b) of sub-section (1) of section 58 G
• clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934