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RBI cancelled the licence of M/s Margdarshak Financial Services Limited

16th busiestof 140 comparable periods· top 11%

39 RBI action records published between 1 August 2024 and 31 August 2024: 31 fresh actions, 8 extensions of existing orders and 30 monetary-penalty actions with an amount stated, totalling ₹11.77 crore. That is 39 records against 37 over the same 31 days of July 2024, and ₹11.77 crore of disclosed penalty value against ₹8.04 crore.

Period complete. 31 days covered.

Action records
39

37 in July 2024

Disclosed penalties
₹11.77 cr

₹8.04 cr in July 2024

Severe actions · S4–S5
15

17 · 45.9% previously

Orders in force
34

10 expiring in the next window

When Action Arrived

Published action records across the covered window, split into RegOversight severity bands. Empty intervals remain visible.

RBI action records by publication interval and severity band
IntervalTotalS0–S1 · lifted / lowS2–S3 · moderate / highS4–S5 · major / severe
1 Aug5230
2 Aug0000
3 Aug0000
4 Aug0000
5 Aug0000
6 Aug0000
7 Aug0000
8 Aug3201
9 Aug1001
10 Aug0000
11 Aug0000
12 Aug5032
13 Aug0000
14 Aug0000
15 Aug0000
16 Aug4112
17 Aug0000
18 Aug0000
19 Aug0000
20 Aug0000
21 Aug1001
22 Aug7322
23 Aug4004
24 Aug0000
25 Aug0000
26 Aug1100
27 Aug2200
28 Aug1001
29 Aug3120
30 Aug2011
31 Aug0000

What Stood Out

Each finding is grounded in precomputed metrics. Open it to inspect the supporting numbers and the limits of the claim.

01

Banks and NBFCs accounted for the rise in disclosed penalty value

Disclosed penalty value rose by ₹3.72 crore, from ₹8.04 crore in July 2024 to ₹11.77 crore. Banks recorded ₹6.89 crore across 4 actions, up from ₹1.32 crore across 1, while NBFCs recorded ₹4.17 crore across 8, up from ₹1.9 lakh across 1.

02

Co-operative bank share fell while NBFC share rose

Co-operative banks accounted for 66.7% of actions, down from 86.5% in July 2024, with 26 actions versus 32. NBFCs rose to 23.1% from 8.1%, with 9 actions versus 3.

03

Severe actions made up a smaller share of the enforcement mix

There were 15 severe actions, or 38.5% of the total, compared with 17 and 45.9% in July 2024. August 2024 recorded 1 cancellation and 0 supersessions, compared with 6 cancellations and 0 supersessions.

What RBI Did and Where It Landed

Amber bars show the current mix. The fine marker shows the comparable earlier period, so a change is visible rather than merely asserted.

Action mix

Primary recorded action category.

  1. Monetary penalty30 · 76.9%

    Previous 22 · 59.5%

  2. Business restriction8 · 20.5%

    Previous 9 · 24.3%

  3. Licence cancellation1 · 2.6%

    Previous 6 · 16.2%

Lifecycle

Fresh actions, extensions and withdrawals.

  1. Fresh action31 · 79.5%

    Previous 28 · 75.7%

  2. Extension8 · 20.5%

    Previous 9 · 24.3%

Entity types

Action records by regulated-entity class, not entities affected.

  1. Co-operative bank26 · 66.7%

    Previous 32 · 86.5%

  2. NBFC9 · 23.1%

    Previous 3 · 8.1%

  3. Bank4 · 10.3%

    Previous 1 · 2.7%

Why RBI acted

Overlapping themes; one action may carry several reasons.

  1. Reporting & disclosure24 · 61.5%

    Previous 16 · 43.2%

  2. Lending norms13 · 33.3%

    Previous 6 · 16.2%

  3. KYC / AML9 · 23.1%

    Previous 10 · 27%

  4. Customer protection8 · 20.5%

    Previous 8 · 21.6%

  5. Governance & oversight8 · 20.5%

    Previous 7 · 18.9%

  6. Other8 · 20.5%

    Previous 8 · 21.6%

Defining Actions

Up to four non-duplicative actions selected for monetary impact, breadth, severity or relief. Quiet periods may show fewer.

  1. RBI imposes monetary penalty on UCO Bank

    Largest disclosed penaltyS4 High
    30 Aug 2024₹2.68 croremonetary penalty

    UCO Bank

    RBI imposed a monetary penalty on UCO Bank for contravention of section 26A of the Banking Regulation Act and non-compliance with directions on advances, current accounts, deposits, and fraud reporting.

    Read case briefRBI source

  3. Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra – Extension of Period

    Highest severity, single entityS4 High
    28 Aug 2024business restriction

    Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra

    RBI extended the existing Section 35A read with Section 56 directions for Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra. The order continues unchanged, subject to review.

    Read case briefRBI source

What It Cost

30 actions had a disclosed amount. Totals and distribution shape are kept separate from action volume.

Median
₹3.05 L

Previous ₹2 L

Largest
₹2.68 cr

Previous ₹5.93 cr

Top five
₹9.74 cr

Previous ₹7.79 cr

95th percentile
₹2 cr

Previous ₹1.32 cr

Change by entity type

Arithmetic attribution of the change in disclosed value. Contributions may exceed 100% or run in the opposite direction.

Entity typeCurrentPreviousContribution
Co-operative bank₹70.83 L₹6.29 cr-149.9%
Bank₹6.89 cr₹1.32 cr149.5%
NBFC₹4.17 cr₹1.9 L111.5%
Payment entity₹0₹41.5 L-11.1%

Entity Coverage

Declared
39
Names extracted
41
Canonical links
41
First seen
20

Entity counts are breadth indicators, not action counts. One bulk order can name hundreds of companies.

Orders Still in Force

Orders
34
Entities
33
Expiring next
10
Duplicate entity rows
1

Next expiry window: 1 Sept 2024–30 Sept 2024.