India, Aug. 12 -- The Reserve Bank of India (RBI) has, by an order dated August 06, 2025, imposed a monetary penalty of Rs 10,000 (Rupees Ten Thousand only) on Altum Credo Home Finance Private Limited, Pune, Maharashtra (the company) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 52A of the National Housing Bank Act, 1987.
The statutory inspection of the company was conducted by the National Housing Bank with reference to its financial position as on March 31, 2023 and March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a noti...