This penalty has been imposed in exercise of powers conferred on RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934.
GK and monthly revision
RBI imposes monetary penalty on Shri Ram Finance Corporation Private Limited
The Reserve Bank of India (RBI) has, by an order dated August 19, 2026, imposed a monetary penalty of ₹8.10 lakh (Rupees Eight Lakh Ten Thousand only) on Shri Ram Finance Corporation Private Limited (the company) for non-compliance with certain provisions of the directions issued by RBI on ‘Governance’ and the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions’.
Source: Reserve Bank of India (official). The summary and key points are quoted from that release; no AI is used. Check the source for the full text.
Revision structure
Monthly events and exam calendar context
Static GK and one-liner notes
Quiz and mock-test revision path
Key points
Exam-ready takeaways
The statutory inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2025.
The company failed to take prior written permission of the RBI while appointing a director resulting in change in management, on account of change in more than 30 per cent of its directors, excluding independent directors;
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