RBI Imposes Penalties on Shri Ram Finance and Progfin; Know the Reason Here | 📰 LatestLY

RBI Imposes Penalties on Shri Ram Finance and Progfin; Know the Reason Here | 📰 LatestLY

The RBI imposed monetary penalties on Shri Ram Finance Corporation (INR 8.10 lakh) and Progfin (INR 2.70 lakh) for governance lapses, KYC compliance failures, and inadequate customer risk categorisation systems. Scroll below to know what the Reserve Bank of India said about Shri Ram Finance and Progfin. 📰 RBI Imposes Penalties on Shri Ram Finance and Progfin; Know the Reason Here.

RBI Imposes Penalties on Profin, Shriram Finance for Regulatory Non-Compliance I Economy India

Central bank levies monetary penalties of ₹8.10 lakh on Shriram Finance Corporation and ₹2.70 lakh on Profin Mumbai (Economy India): The Reserve Bank of India (RBI) has imposed monetary penalties on Shriram Finance Corporation and Profin for non-compliance with certain regulatory requirements and directions, the central bank said on Friday. According to an RBI statement, a monetary penalty of ₹8.10 lakh has been imposed on Shriram Finance Corpor…

RBI Imposes ₹2.70 Lakh Penalty on Progfin Private Limited for KYC Compliance Violation

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.70 lakh on Progfin Private Limited for failing to comply with certain provisions of the central bank’s Know Your Customer (KYC) Directions. The post RBI Imposes ₹2.70 Lakh Penalty on Progfin Private Limited for KYC Compliance Violation appeared first on tennews.in: National News Portal.