RBI imposes monetary penalty on Manappuram Finance Limited

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 

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 

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, 

Inspection Report, supervisory letter and all related correspondence pertaining to the same revealed, inter alia, non-compliance with the aforesaid directions by the company  

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