RBI imposes monetary penalty on Purvaja Fincap Pvt. Ltd., Tamil Nadu - আৰবিআই - Reserve Bank of India
RBI imposes monetary penalty on Purvaja Fincap Pvt. Ltd., Tamil Nadu
The Reserve Bank of India (RBI) has, by an order dated March 27, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Purvaja Fincap Pvt. Ltd., Tamil Nadu (the company) for non-compliance with certain provisions of The correspondence pertaining to the pre-mature redemption of Subordinated Debts revealed, inter-alia, non-compliance with RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia that the following charge against the company was sustained, warranting imposition of monetary penalty: (Puneet Pancholy) Press Release: 2024-2025/2513 |