Jumbo Finvest (India) Limited

RBI cancelled the CoR of two NBFCs: Jumbo Finvest (India) Limited and Champion Agro Finance Limited. Both entities are barred from doing NBFC business.

The two NBFCs can no longer conduct non-banking financial business. Customers and counterparties should expect the firms to cease regulated NBFC operations; any continuation of such activity would be impermissible under the RBI Act.

• Section 45-IA (6) of the Reserve Bank of India Act, 1934
• Section 45-I of the RBI Act, 1934

This RBI action affected 2 entities. This profile is linked as primary.

RBI has imposed a monetary penalty of ₹25.50 lakh on Jumbo Finvest (India) Limited, Jaipur. The penalty was for non-compliance with RBI’s NBFC and KYC directions.

The company must bear the monetary penalty of ₹25.50 lakh. The order does not invalidate customer transactions or agreements, but it reflects regulatory non-compliance and may affect supervisory scrutiny going forward.

• 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