India, March 24 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 30,000 on Vedvyas Finance Private Limited, Odisha, for non-compliance with regulatory directions related to governance.
The penalty, issued through an order dated March 16, 2026, has been levied under the provisions of the Reserve Bank of India Act, 1934, following supervisory findings.
The RBI observed that the company failed to obtain prior written approval from the central bank while appointing a director, which led to a change in more than 30 per cent of its board (excluding independent directors), thereby constituting a violation of regulatory norms.
After issuing a show-cause notice and considering the company's response along with oral submissi...