India, May 25 -- Reserve Bank of India has imposed a monetary penalty of Rs 3.10 lakh on Mintifi Finserve Private Limited for non-compliance with certain Know Your Customer (KYC) directions issued by the central bank.
The penalty was imposed through an order dated May 15, 2026, under provisions of the Reserve Bank of India Act, 1934.
According to RBI, the action follows a statutory inspection conducted with reference to the company's financial position as of March 31, 2025. Based on supervisory findings and related correspondence, the central bank issued a show-cause notice to the company regarding regulatory non-compliance.
After reviewing the company's written response and oral submissions made during the personal hearing, RBI found th...