RBI imposes monetary penalty on Manappuram Finance Limited

[{"selector":"#anim-57e88ab7-e048-4ed4-9204-ce16aacd1bea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-41d85c42-66ac-4cdc-8ced-d789f81973e6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ac2d3687-9332-40ed-993d-e50bb0e54142","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The Reserve Bank of India (RBI) has, by an order dated June 12, 2023, imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on Manappuram Finance Limited

[{"selector":"#anim-0bc19659-f21d-4f87-bb42-f388d4666da1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9e62f0d4-efa9-4bc6-b6fe-9e737bebf1be","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-361d4965-5b33-4a67-a5a4-0c99ad26729c","keyframes":{"transform":["translate3d(0px, 146.14765%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Thrissur (the company) for non-compliance with certain provisions of the “Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016

[{"selector":"#anim-1e5bba17-a261-4b0d-b6b8-b6d8965f3c1d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.552713678800501e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-5f739fcb-fbc9-48e1-a10b-a86d76470845","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ad1807ef-4feb-4503-b5ab-dc69fbadcbfe","keyframes":{"transform":["translate3d(0px, 138.30261%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The statutory inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2021 and examination of the Risk Assessment Report,

[{"selector":"#anim-575b1b21-27df-4848-b0c6-812152d12dae [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-6cef07c5-7aa4-488d-bbfb-4c9fc40b1ccf","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f23d6010-88be-4596-974c-61be42c9b554","keyframes":{"transform":["translate3d(0px, 135.43394%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Inspection Report, supervisory letter and all related correspondence pertaining to the same revealed, inter alia, non-compliance with the aforesaid directions by the company

Please Share This web story

[{"selector":"#anim-7f46cc03-e4d2-4727-ad71-e0273a27b507","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-77d40ac5-721f-4c11-8693-62cd9333d08f","keyframes":{"transform":["translate3d(0px, -390.70874%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-94a769fe-1739-4b27-87f4-5f96f119fd84","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a1f2b275-4afe-4b57-aa63-910087012a50","keyframes":{"transform":["translate3d(-118.79194%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-08b7c1d2-c43f-4e3a-b448-52b49323f8c4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e792067d-129a-49c9-b368-63eb44c9d3a8","keyframes":{"transform":["translate3d(0px, -105.22875%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-75465324-63f9-4cdc-8fe1-ee445b844bf3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7f63015d-286b-41fa-b96b-3a35257b2d70","keyframes":{"transform":["rotate(-181deg) translate3d(0px, 100.89218%, 0) rotate(181deg)","rotate(-181deg) translate3d(0px, 0px, 0) rotate(181deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3e6d483-59c9-4b36-99e5-8ea8c29c1339","keyframes":{"transform":["rotate(-308deg) translate3d(-206.70731%, 0px, 0) rotate(308deg)","rotate(-308deg) translate3d(0px, 0px, 0) rotate(308deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-03180d75-aa04-4c0a-b2e0-e86485cdde04","keyframes":{"transform":["rotate(-308deg) rotateZ(-180deg) rotate(308deg)","rotate(-308deg) rotateZ(0deg) rotate(308deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-8846c3e9-97a6-41fd-a90f-98590ed29bfa","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9576d96d-d67d-4f1b-8f1c-9526eab70d08","keyframes":{"transform":["translate3d(0px, 165.12576%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] White Frame Corner White Frame Corner Arrow Share

Other stories

[{"selector":"#anim-7c2396b9-b331-40ad-aa89-fb2bbe76196b","keyframes":{"transform":["translate3d(-131.37256%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7522d505-30e8-4312-993b-ddf9ed874134","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-78f173fb-3bb8-45cc-92fe-59ffac1d024a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-943f52bf-9e2c-4871-bf21-0f213a827a26","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7b59a981-555f-4336-9680-40ead1c7fac0","keyframes":[{"offset":0,"transform":"translate3d(0, -170.07169%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -47.824159228%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -16.258853564%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -6.105573671%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -2.6531183639999996%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] Green Leaf Green Leaf Wavy Line

Please Share This web story

Other stories

How to Get Add On Card In Sbi