On January 5, 2026, the Reserve Bank of India (RBI) announced a monetary penalty of ₹10,000/- on Shaha Finlease Private Limited, Mumbai, for non-compliance with directions issued by RBI on ‘Fair Practices Code’. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934. The penalty was warranted because the company failed to put in place a system of periodical review of compliance of the 'Fair Practices Code'. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered by the company with its customers and is without prejudice to any other action that may be initiated by RBI against the company. The press release number is 2025-2026/1853. For communication, contact the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. Phone: 022 - 2266 0502. Website: www.rbi.org.in, email: helpdoc@rbi.org.in. Brij Raj, Chief General Manager.
Key Entities Referenced
Reserve Bank of India Act, 1934: Act under which the RBI imposed the penalty.
RBI: The regulator imposing the monetary penalty.
Shaha Finlease Private Limited, Mumbai: The company on which the monetary penalty was imposed.
Fair Practices Code: RBI directions with which the company failed to comply.
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
January 05, 2026
RBI imposes monetary penalty on Shaha Finlease Private Limited, Mumbai
The Reserve Bank of India (RBI) has, by an order dated January 02, 2026,
imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Shaha
Finlease Private Limited, Mumbai (the company), for non-compliance with certain
directions issued by RBI on ‘Fair Practices Code’. 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 onsite scrutiny of the company was conducted by RBI. Based on 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 its failure to comply with RBI directions on
‘Fair Practices Code’. After considering the company’s reply to the notice, additional
submissions made by it and oral submissions made during the personal hearing, RBI
found, inter alia, that the following charge against the company was sustained,
warranting imposition of monetary penalty:
The company failed to put in place a system of periodical review of compliance of
the ‘Fair Practices Code’.
This action is based on deficiencies in regulatory compliance and is not intended
to pronounce upon the validity of any transaction or agreement entered by the
company with its customers. Further, imposition of monetary penalty is without
prejudice to any other action that may be initiated by RBI against the company.
(Brij Raj)
Press Release: 2025-2026/1853 Chief General Manager