Penalty

RBI imposes penalties on Muthoot Finance, others for compliance violations

The Reserve Bank of India (RBI) on Friday announced that it has imposed monetary penalties on six companies, including non-bank lender Muthoot Finance, for non-compliance with various regulatory norms. The central bank imposed a Rs 5.80 lakh penalty on Muthoot Finance, Rs 3.10 lakh each on Satya MicroCapital and PAN Emami Cosmed, Rs 2.70 lakh each on Dhani Loans and Services and Muthoot Vehicle and Asset Finance, and Rs 6.20 lakh on Avail Financial Services, notifications said. Muthoot Finance was penalised for failing to put in place a system of periodic review of risk categorisation of accounts and non-deployment of robust software for effective identification and reporting of suspicious transactions, the RBI said. The monetary penalty on Avail Financial Services was imposed as the managing director of the company held directorship in two other NBFCs-Middle Layer, and the company had breached the regulatory single party exposure limit. The central bank imposed a monetary penalty

RBI's penalties on regulated entities at 5-year low of ₹26.33 crore in FY26

RBI's penalties on regulated entities fell to a five-year low of ₹26.33 crore in FY26, with enforcement action taken against 241 entities

Vedanta faces ₹233 crore notice over 'illegal' river water extraction

Odisha alleges unauthorised extraction from Bheden river for nearly a year; Vedanta denies wrongdoing, says assessment is flawed and operations comply with norms

Sebi slaps ₹10 lakh penalty on Coffee Day for financial misstatements

Sebi has fined Coffee Day Enterprises and nine individuals for alleged financial misstatements, stating the company understated losses by not accounting for over ₹489 crore in interest expenses

RBI fines Bank of Maharashtra, Navi Finserv, CSB Bank for non-compliance

The Reserve Bank of India (RBI) on Friday imposed monetary penalties on Bank of Maharashtra, DCB Bank and CSB Bank for non-compliance with directions. The central bank imposed Rs 32.50 lakh fine on Bank of Maharashtra, Rs 29.60 lakh on DCB Bank, and Rs 63.60 lakh on CSB Bank, RBI said in a release. The RBI also penalised Navi Finserv with Rs 3.80 lakh, and slapped a Rs 5.30 lakh fine on IIFL Finance, the release added. The monetary penalty on the Bank of Maharashtra was imposed, as the lender did not report Self Help Group member-level data to credit information companies and did not identify beneficial owners in certain accounts. CSB Bank was penalised as it entered into an arrangement with business correspondents for undertaking activities outside the scope of activities that can be undertaken by them, and levying charges in certain savings bank accounts without ensuring that customers were made aware of such charges upfront, the RBI said. In the case of DCB Bank, the RBI found

Budget 2026: Govt introduces penalty framework for crypto trading entities

The Union Budget 2026-27 proposes a penalty framework for crypto-asset reporting, including daily fines for non-filing and a flat ₹50,000 penalty for inaccurate disclosures, effective April 1, 2026

Budget 2026 softens penalty, prosecution norms for individual taxpayers

Budget 2026 signals a shift towards trust-based taxation by easing penalties, limiting prosecution for small and technical lapses

61% airline travellers say DGCA penalty on IndiGo not sufficient: Survey

The DGCA imposed a record penalty of ₹22.20 crore on IndiGo for regulatory non-compliance, mainly linked to failures in implementing revised Flight Duty Time Limitation (FDTL) norms

IndiGo loses appeal against DGCA penalty order over pilot training lapses

IndiGo on Friday said an appellate authority has rejected its appeal against regulator DGCA's penalties on two senior executives of the airline for alleged failure to use qualified simulators for pilot training at certain airports. In September last year, the Directorate General of Civil Aviation (DGCA) imposed a fine of Rs 20 lakh each on the Director Flight Operations and Director Training of IndiGo. The DGCA Appellate Authority, through an order dated January 7, has dismissed the appeal. "The matter has been disposed of by reinstating the penalty of Rs 20 lakh each on the Director Flight Operations and Director Training of the company," IndiGo's parent InterGlobe Aviation said in a filing to BSE. The watchdog had imposed the penalty for the airline's alleged failure to use qualified simulators for pilot training at Category C aerodromes. Generally, pilots require additional training for operating flights to and from Category C airports as they might have operational ...

Sebi drops adjudication proceedings against Nuvama Wealth and Investment

Regulator finds lapses not serious enough for penalty

Aviation watchdog slaps ₹20 lakh fine on IndiGo for training lapses

IndiGo parent InterGlobe Aviation said it is in the process of contesting the order before an appellate authority and that there has been no material impact on its financials due to the DGCA order

New India Assurance ordered to pay ₹2,379 crore by tax authority

The order comes after the state-owned insurer was accused of having failed to pay taxes on premiums it received in its co-insurance business

Telecom major Vodafone Idea slapped with tax penalty of ₹6.47 crore

The company is accused of wrongly taking CENVAT credit, which is a type of tax credit businesses can claim for taxes paid on equipment or capital goods

HKMA penalises IOB's Hong Kong branch for breaching AML regulations

The Hong Kong Monetary Authority imposes a penalty on Indian Overseas Bank's Hong Kong branch for violating anti-money laundering regulations from May 2021 to January 2024

RBI fines HDFC Bank, Shriram Finance for violations of regulatory norms

The Reserve Bank of India imposed a penalty of ₹2.70 lakh on Shriram Finance and ₹4.88 lakh on HDFC Bank for violating regulatory norms

Sebi may rationalise penalties on brokers, says WTM Kamlesh Varshney

Sebi's Kamlesh Varshney says penalty rationalisation for brokers is likely soon and that a common reporting portal and designated exchange for penalties are under review

Ferrari hits traffic bump in Bengaluru, pays ₹1.4 cr after tax-free ride

Ferrari SF90 Stradale, registered in Maharashtra, seized in Bengaluru for unpaid Karnataka road tax; owner clears ₹1.42 crore dues after RTO finds car used for over 18 months

SAT quashes Sebi order against ex-Care Ratings MD & CEO Rajesh Mokashi

The tribunal said Sebi caused reputational and financial damage to Mokashi and wasted judicial time, while ignoring Justice BN Srikrishna's exoneration in the ratings case

3 Shemaroo Entertainment staffers get Bombay HC relief in GST case

The dispute originated from an input tax credit (ITC) issue involving Rs 70 crore, which tax authorities alleged Shemaroo had falsely claimed

CCI imposes penalties on UFO Moviez, others for anti-competitive practice

This comes after it was alleged that UFO Moviez entered into anti-competitive agreements with CTOs to help and assist the business of Scrabble Digital, as per the CCI order