India, March 10 -- The Reserve Bank of India (RBI) has, by an order dated March 04, 2025, imposed a monetary penalty of ?10.00 lakh (Rupees Ten Lakh only) on Bridge Fintech Solutions Private Limited (the company), also referred to as "Finzy", for non-compliance with certain provisions of the 'Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017' issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.
A scrutiny of the company was conducted by RBI in September 2023. Based on supervisory findings of non-compliance with RBI ...