RBI imposes Rs 46 lakh penalty on three firms for non compliace

Quick Summary:

The Reserve Bank of India (RBI) fined Citibank NA, JM Financial, and Asirvad Micro Finance for regulatory non-compliance.

Citibank was penalized Rs 39 lakh for credit data breaches, JM Financial fined Rs 1.5 lakh for non-disclosure of interest rate rationale, and Asirvad Micro Finance fined Rs 6.2 lakh for failing to report borrower income and other omissions.

The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaAfghanistanCanadaSouth Africa

Topics: RBI penalty on firms JM Financial penalty Non-compliance RBI guidelines Asirwad Microfinance fine Business news CitiBank NA fine

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-22 @ 01:49:15 (14 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 741 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 26322272

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