Fedbank Financial Services Limited

RBI imposed a ₹8.80 lakh penalty on Fedbank Financial Services Limited, Mumbai. The penalty was for delayed reporting of a fraud to RBI in violation of the Monitoring of Frauds in NBFCs Directions.

Fedbank Financial Services Limited must absorb the monetary penalty and address the compliance lapse identified by RBI. The order does not describe an operational restriction, but it signals supervisory scrutiny over fraud-reporting controls and compliance processes for future reporting obligations.

• clause (b) of sub-section (1) of Section 58G
• clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934
• Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016

RBI imposed a ₹15 lakh penalty on Fedbank Financial Services Limited, Mumbai, for non-compliance with its fraud-monitoring directions for NBFCs. The violation was upheld after inspection and hearing.

Fedbank Financial Services Limited must absorb the ₹15 lakh penalty and ensure future compliance with RBI's fraud-monitoring directions for NBFCs. The action has no stated direct change to customer contracts, but it signals heightened regulatory scrutiny over the company's compliance processes.

• 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