Monetary Penalty on Namdev Finvest Limited
RBI press-release 2026-2027/840 · 07 Aug 2026
Official title
RBI imposes monetary penalty on Namdev Finvest Limited (formerly known as Namdev Finvest Private Limited)
RBI press-release 2026-2027/840 · 07 Aug 2026
Official title
RBI imposes monetary penalty on Namdev Finvest Limited (formerly known as Namdev Finvest Private Limited)
Summary
Check the official recordThe Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.70 lakh on Namdev Finvest Limited for non-compliance with the 'Reserve Bank of India (Know Your Customer (KYC)) Directions'. The penalty follows a statutory inspection of the company's financial position as of March 31, 2025, which identified that the company failed to implement a robust software system for the effective identification and reporting of suspicious transactions. Following a show-cause notice and personal hearing, the RBI sustained the charge of non-compliance. This regulatory action does not affect the validity of any transactions or agreements between the company and its customers, nor does it preclude further actions by the RBI.
Key dates
Who is affected
Thresholds
If you do not comply
August 7, 2026
RBI imposes monetary penalty on Namdev Finvest Limited (formerly known as Namdev Finvest Private Limited)
The Reserve Bank of India (RBI) has, by an order dated August 03, 2026, imposed a monetary penalty of ₹2.70 lakh (Rupees Two lakh seventy thousand only) on Namdev Finvest Limited (formerly known as Namdev Finvest Private Limited) (the company) for non-compliance with certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under section 58(G)(1)(b) read with section 58(B)(5)(aa) of the Reserve Bank of India Act, 1934.
The Statutory Inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2025. Based on the supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions.
After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the company was sustained, warranting imposition of monetary penalty:
The company failed to put in place a robust software for effective identification and reporting of suspicious transactions.
The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.
(Brij Raj) Press Release: 2026-2027/840 Chief General Manager ᮧेस ᮧकाशनी PRESS RELEASE
भारतीय ᳯरज़वर् बᱹक
RESERVE BANK OF INDIA
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