**Executive Summary**
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹6.20 lakh on Bansal Credits Limited, effective December 2, 2025, due to non-compliance with KYC directions issued by RBI. The decision follows a statutory inspection of the company's financial position as of March 31, 2024, and subsequent review of the company's response to a show cause notice. This penalty is without prejudice to any further action by the RBI.
**Key Points / Main Content**
* **Penalty Imposition:**
* RBI imposed a monetary penalty of ₹6.20 lakh on Bansal Credits Limited.
* The penalty was imposed on December 2, 2025.
* The penalty is for non-compliance with certain provisions of the 'Reserve Bank of India (Know Your Customer (KYC)) Directions'.
* The penalty is imposed under powers conferred on RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934.
* **Reasons for Penalty:**
* The statutory inspection as of March 31, 2024 revealed non-compliance with RBI directions.
* Bansal Credits failed to implement a system for throwing alerts for effective identification, monitoring, and reporting of suspicious transactions.
* Bansal Credits failed to upload customer KYC records onto the Central KYC Records Registry.
* **Disclaimer:**
* The action is based on regulatory compliance deficiencies and does not impact the validity of Bansal Credit's transactions with its customers.
**Impact Analysis**
**Bansal Credits Limited**
* **Impact**
* The company is subject to a monetary penalty of ₹6.20 lakh.
* This impacts the company's financial standing and reputation.
* This action is without prejudice to any further action that may be initiated by RBI against the company.
* **Action Required**
* Pay the imposed penalty.
* Review and strengthen compliance with RBI's KYC directions.
* Implement a system for throwing alerts for suspicious transactions.
* Ensure customer KYC records are uploaded to the Central KYC Records Registry.
Key Entities Referenced
Reserve Bank of India (RBI): Imposed monetary penalty on Bansal Credits Limited for non-compliance with certain provisions.
Reserve Bank of India (Know Your Customer (KYC)) Directions: RBI directions that Bansal Credits Limited failed to comply with.
Bansal Credits Limited: Company on which RBI imposed a monetary penalty of ₹6.20 lakh for non-compliance.
Reserve Bank of India Act, 1934: The legal act under which the penalty was imposed, specifically sections 58G(1)(b) and 58B(5)(aa).
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
December 05, 2025
RBI imposes monetary penalty on Bansal Credits Limited
The Reserve Bank of India (RBI) has, by an order dated December 2, 2025,
imposed a monetary penalty of ₹6.20 lakh (Rupees Six Lakh Twenty Thousand only)
on Bansal Credits Limited (the company) for non-compliance with certain provisions
of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions’ issued by
RBI. 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.
The statutory inspection of the company was conducted by RBI with reference to
its financial position as on March 31, 2024. Based on the supervisory findings of non-
compliance with RBI directions and related correspondence in that regard, a notice
was issued to the company advising it to show cause as to why penalty should not be
imposed on it for failure to comply with the said direction.
After considering the company’s reply to the notice and oral submissions made
during the personal hearing, RBI found, inter alia, that the following charges against
the company were sustained, warranting imposition of monetary penalty:
i) The company failed to put in place any system for throwing alerts for effective
identification, monitoring and reporting of suspicious transactions; and
ii) The company failed to upload the customers’ KYC records onto Central KYC
Records Registry.
This action is based on deficiencies in regulatory compliance and is not intended
to pronounce upon the validity of any transaction or agreement entered into by the
company with its customers. Further, imposition of this monetary penalty is without
prejudice to any other action that may be initiated by RBI against the company.
(Brij Raj)
Press Release: 2025-2026/1650 Chief General Manager