India, June 22 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3.10 lakh on Pahal Financial Services Private Limited for non-compliance with certain provisions of the RBI's Know Your Customer (KYC) Directions.
The penalty was levied through an order dated June 18, 2026, under the powers conferred on the RBI under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.
The action follows a statutory inspection conducted by RBI with reference to the company's financial position as of March 31, 2025. Based on supervisory findings and subsequent correspondence regarding regulatory non-compliance, the central bank issued a show-cause notice to the company.
After reviewing the company's re...