CURRENT AFFAIRS : BANKING & FINANCE
RBI imposes Rs 20 lakhs penalty on Manappuram Finance for rule violations
- The Reserve Bank of India (RBI) has imposed ₹20 lakhs monetary penalty on Manappuram Finance for non-compliance with certain provisions of Non-Banking Financial Company (NBFC).
- This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 58G (1) (b) read with section 58B (5) (aa) of the Reserve Bank of India Act, 1934.”
