RBI imposes monetary penalty on Bansal Credits Limited

**Executive Summary** This press release, dated December 5, 2025, announces that the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹6.20 lakh on Bansal Credits Limited for non-compliance with certain provisions of the RBI's 'Know Your Customer (KYC) Directions'. The penalty follows a statutory inspection of the company's financial position as of March 31, 2024, and subsequent show-cause notice. The order imposing the penalty was dated December 2, 2025. **Key Points / Main Content** * **Penalty Imposition:** * RBI imposed a monetary penalty of ₹6.20 lakh on Bansal Credits Limited. * The penalty is for non-compliance with certain provisions of the 'Reserve Bank of India (Know Your Customer (KYC)) Directions'. * The imposition is based on powers conferred on RBI under specific sections of the Reserve Bank of India Act, 1934. * **Background:** * The statutory inspection of Bansal Credits Limited was conducted by RBI with reference to its financial position as of March 31, 2024. * A show-cause notice was issued to the company due to supervisory findings of non-compliance with RBI directions. * **Reasons for Penalty:** * The company failed to put in place a system for generating alerts for effective identification, monitoring, and reporting of suspicious transactions. * The company failed to upload customers' KYC records onto the Central KYC Records Registry. * **Disclaimer:** * The action is based on deficiencies in regulatory compliance. * The imposition of the penalty does not affect the validity of any transaction or agreement entered into by the company with its customers. * The penalty is without prejudice to any other action that may be initiated by RBI against the company. **Impact Analysis** **Bansal Credits Limited** * **Impact:** Faces a monetary penalty of ₹6.20 lakh. Reputational damage may be incurred. May be subject to further action by RBI. * **Action Required:** Pay the penalty. Correct the deficiencies that led to the penalty, specifically regarding alert systems for suspicious transactions and uploading KYC records. **Customers of Bansal Credits Limited** * **Impact:** No direct impact on the validity of transactions or agreements with the company. * **Action Required:** No action required. **Reserve Bank of India (RBI)** * **Impact:** Responsible for enforcing compliance with regulations. * **Action Required:** Continue to monitor Bansal Credits Limited and take further action if needed.

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