MUMBAI, India, July 17 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated July 13, 2026, imposed a monetary penalty of ₹3.10 lakh (Rupees Three lakh ten thousand only) on PAN Emami Cosmed Limited (formerly known as Midkot Investments Private Limited) (the company) for non-compliance with certain directions issued by RBI on 'Credit / investment concentration Norms'. 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 supervisor...