India, Feb. 13 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5.30 lakh on IIFL Finance Limited for non-compliance with RBI directions related to asset classification norms.
The penalty, imposed through an order dated February 6, 2026, follows RBI's statutory inspection of the company based on its financial position as of March 31, 2024. The central bank found that IIFL Finance had failed to classify certain restructured accounts as non-performing assets (NPAs), in violation of regulatory guidelines.
RBI clarified that the penalty was imposed due to regulatory compliance deficiencies and does not affect the validity of any customer transactions. It also stated that the action is without prejudice to any further re...