MUMBAI, India, March 13 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated March 09, 2026, imposed a monetary penalty of ₹2.70 lakh (Rupees Two Lakh Seventy Thousand only) on Manappuram Finance Limited (the company) for non-compliance with certain directions issued by RBI on 'Guidelines on Compensation of Key Managerial Personnel - Deferral of variable pay'. This penalty has been imposed in exercise of powers conferred on RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934.
The statutory inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2025. Based on the supervisory findi...