India, March 2 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 11.50 lakh on Mahindra & Mahindra Financial Services Limited for non-compliance with certain regulatory directions related to the 'Fair Practices Code' and the 'Internal Ombudsman for Regulated Entities'.
The penalty, imposed through an order dated February 27, 2026, has been levied under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.
The action follows a statutory inspection conducted by the RBI with reference to the company's financial position as of March 31, 2025. Based on supervisory findings and subsequent correspondence, the central bank had issued a show-cause notice asking the company to...