Recorded RBI impact
Fine: Rs 4.20 L
Monetary penalty · Fresh imposition
Published by RBI
4 Sept 2026
Case Brief
The Reserve Bank of India penalized Sammaan Finserve Limited by an order dated August 31, 2026 for non-compliance with RBI directions on 'Early Recognition of Stress and Reporting to Central Repository of Information on Large Credits (CRILC)'. Following a statutory inspection and a show-cause process, RBI concluded that the company failed to report credit information of its borrower to CRILC. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934.
Why RBI Acted
RBI imposed a monetary penalty after its statutory inspection found non-compliance with directions issued on 'Early Recognition of Stress and Reporting to Central Repository of Information on Large Credits (CRILC)'. The sustained charge was that the company failed to report credit information of its borrower to CRILC. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934.
Operating Impact
Sammaan Finserve Limited must absorb the ₹4.20 lakh penalty; the release does not mention any operational restriction, but the finding reflects a compliance lapse in CRILC reporting. RBI also notes that the penalty is without prejudice to any other action that may be initiated.
Regulatory Basis
- Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- Fine: Rs 4.20 L
- Order Date
- 31 Aug 2026
- Effective From
- 31 Aug 2026
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC