Recorded RBI impact
Fine: Rs 10,000
Monetary penalty · Fresh imposition
Published by RBI
4 Nov 2025
Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹10,000 on Viva Home Finance Limited, Palghar, Maharashtra, under Section 52A of the National Housing Bank Act, 1987. The penalty followed supervisory findings and a show-cause process in which RBI concluded that the company failed to obtain prior written permission for the appointment of a Whole-time Director, resulting in a change of more than 30% of the directors excluding independent directors, in breach of applicable RBI directions for NBFC-HFCs.
Why RBI Acted
RBI imposed a monetary penalty under Section 52A of the National Housing Bank Act, 1987 after supervisory findings showed non-compliance with RBI directions applicable to NBFC-HFCs. The sustained charge was that the company appointed a Whole-time Director without prior written permission of RBI, leading to a change of more than 30% of the directors of the company excluding independent directors.
Operating Impact
The company must absorb the monetary penalty, and the order serves as a regulatory censure for deficient compliance with governance-related directions. The release does not impose any new operating restriction, but it signals that RBI may take further action if similar breaches recur.
Regulatory Basis
- Section 52A of the National Housing Bank Act, 1987
Action Facts
- Primary Impact
- Fine: Rs 10,000
- Order Date
- 23 Oct 2025
- Effective From
- 23 Oct 2025
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC