RBI Fines Manappuram Finance for Regulatory Compliance Lapses

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RBI slaps Rs 2.70 lakh penalty on Manappuram Finance for compliance lapses

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News18•13-03-2026, 19:30

RBI slaps Rs 2.70 lakh penalty on Manappuram Finance for compliance lapses

•The Reserve Bank of India imposed a Rs 2.70 lakh penalty on Manappuram Finance.
•Penalty was due to deficiencies in certain regulatory compliance.
•The company paid the entire variable pay upfront to certain key managerial personnel without deferment.
•RBI issued a show cause notice and considered the company’s reply and oral submissions.
•The penalty is based on regulatory compliance deficiencies, not the validity of customer transactions.

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