India, May 15 -- Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3.10 lakh on IIFL Finance Limited for non-compliance with provisions under the RBI's Master Direction for Non-Banking Financial Company – Scale Based Regulation Directions, 2023.
The penalty was imposed through an order dated May 11, 2026, under the provisions of the Reserve Bank of India Act, 1934.
According to RBI, the statutory inspection of the company was conducted with reference to its financial position as on March 31, 2025. Based on supervisory findings and subsequent correspondence, the central bank issued a show-cause notice to the company seeking an explanation for the regulatory lapses.
After considering the company's response and oral sub...