India, March 9 -- The Reserve Bank of India (RBI) has, by an order dated February 27, 2026, imposed a monetary penalty of Rs. 3.10 lakh (Rupees Three Lakh Ten Thousand only) on Maanaveeya Development & Finance Private Limited (the company) for non-compliance with certain directions issued by RBI on 'Governance'. 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 correspondence pertaining to the intimation of appointment of a director, revealed, inter alia, non-compliance with RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failu...