RBI · Enforcement
RBI fines Muthoot Vehicle and Asset Finance ₹2.70 lakh for KYC violations
Regulator penalises company for failing to review risk categorisation every six months.
What changed
- RBI imposed penalty of ₹2.70 lakh
- Non-compliance with KYC directions
- Failure to have periodic risk categorisation review
The read
RBI fined Muthoot Vehicle and Asset Finance ₹2.70 lakh for violating KYC rules. An inspection found the company did not review account risk categorisation at least once every six months, a clear breach of anti-money laundering norms. The penalty, ordered on July 13, 2026, reinforces the regulator's expectations. Other lenders must ensure timely updates or face similar penalties.
Key numbers
- Penalty: ₹2.70 lakh
- Date: July 13, 2026
Primary source: rbi.org.in