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RBI cancels four NBFC registrations, barring NBFI business

7th busiestof 47 comparable periods· top 15%

108 RBI action records published between 1 July 2024 and 30 September 2024: 82 fresh actions, 26 extensions of existing orders and 73 monetary-penalty actions with an amount stated, totalling ₹24.44 crore. That is 108 records against 117 over the same 92 days of Q2 2024, and ₹24.44 crore of disclosed penalty value against ₹11.20 crore.

Period complete. 92 days covered.

Action records
108

117 in Q2 2024

Disclosed penalties
₹24.44 cr

₹11.2 cr in Q2 2024

Severe actions · S4–S5
46

49 · 41.9% previously

Orders in force
34

33 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 Jul8314
8 Jul6024
15 Jul12912
22 Jul11227
29 Jul5230
5 Aug4202
12 Aug9144
19 Aug12327
26 Aug9432
2 Sept6231
9 Sept182610
16 Sept3120
23 Sept4103
30 Sept1100

What Stood Out

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

01

The upper end of disclosed penalties widened

The largest disclosed penalty rose to ₹5.93 crore from ₹1.46 crore in Q2 2024. The 90th percentile rose to ₹1.27 crore from ₹59.1 lakh, while the top five accounted for 59.1% of disclosed value, up from 47.6%.

02

Co-operative banks accounted for the largest share of the increase

Co-operative banks accounted for 36.7% of the increase, NBFCs for 30.7%, banks for 29.5% and a payment entity for 3.1%. The increase was split across these entity types, with co-operative banks holding the largest share.

03

NBFCs took a larger share of action records

NBFCs made up 18.5% of action records, up from 8.5% in Q2 2024. Their count was 20, compared with 10 previously, a 10.0 percentage-point shift.

04

The severe-action share edged higher

Severe actions accounted for 42.6% of records, up from 41.9% in Q2 2024. There were 46 severe actions, against 49 in Q2 2024.

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 penalty73 · 67.6%

    Previous 75 · 64.1%

  2. Business restriction27 · 25%

    Previous 37 · 31.6%

  3. Licence cancellation8 · 7.4%

    Previous 4 · 3.4%

Lifecycle

Fresh actions, extensions and withdrawals.

  1. Fresh action82 · 75.9%

    Previous 87 · 74.4%

  2. Extension26 · 24.1%

    Previous 29 · 24.8%

Entity types

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

  1. Co-operative bank78 · 72.2%

    Previous 95 · 81.2%

  2. NBFC20 · 18.5%

    Previous 10 · 8.5%

  3. Bank9 · 8.3%

    Previous 12 · 10.3%

  4. Payment entity1 · 0.9%

Why RBI acted

Overlapping themes; one action may carry several reasons.

  1. Reporting & disclosure58 · 53.7%

    Previous 66 · 56.4%

  2. Lending norms28 · 25.9%

    Previous 30 · 25.6%

  3. Other25 · 23.1%

    Previous 29 · 24.8%

  4. Capital & exposure norms24 · 22.2%

    Previous 30 · 25.6%

  5. KYC / AML24 · 22.2%

    Previous 12 · 10.3%

  6. Customer protection22 · 20.4%

    Previous 24 · 20.5%

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 The Mehsana Urban Co-operative Bank Ltd., Gujarat

    Largest disclosed penaltyS4 High
    12 Jul 2024₹5.93 croremonetary penalty

    The Mehsana Urban Co-operative Bank Ltd., Gujarat

    This was the period's largest disclosed penalty. RBI imposed a monetary penalty for multiple compliance failures, including director-related lending, cyber security control lapses, NPA classification issues, multiple UCIC allotments, and donations to an interested trust/institution.

What It Cost

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

Median
₹2.5 L

Previous ₹2.5 L

Largest
₹5.93 cr

Previous ₹1.46 cr

Top five
₹14.44 cr

Previous ₹5.33 cr

95th percentile
₹1.92 cr

Previous ₹96.4 L

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₹7.84 cr₹2.98 cr36.7%
NBFC₹4.74 cr₹68.4 L30.7%
Bank₹11.43 cr₹7.53 cr29.5%
Payment entity₹41.5 L₹03.1%

Entity Coverage

Declared
113
Names extracted
116
Canonical links
116
First seen
59

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
33
Duplicate entity rows
1

Next expiry window: 1 Oct 202431 Dec 2024.