Monetary Penalty on Utsav Securities Limited
RBI press-release 2026-2027/839 · 07 Aug 2026
Official title
RBI imposes monetary penalty on Utsav Securities Limited
Summary
Check the official recordWhat changed
The Reserve Bank of India has imposed a monetary penalty of ₹3.90 lakh on Utsav Securities Limited for failing to comply with regulatory directions regarding governance and the submission of data to Credit Information Companies. The penalty follows a statutory inspection of the company's financial position as of March 31, 2025, and a subsequent show-cause process. The RBI determined that the company's Key Management Personnel held positions in other Middle Layer NBFCs and that the company failed to report credit information for specific loan accounts to Credit Information Companies. This regulatory action is based on compliance deficiencies and does not affect the validity of the company's existing customer agreements or preclude further regulatory actions.
What you must do
- The company was required to respond to a show cause notice regarding non-compliance with RBI directions.
Key dates
- Reference date for statutory inspection
Document text
August 07, 2026
RBI imposes monetary penalty on Utsav Securities Limited
The Reserve Bank of India (RBI) has, by an order dated August 03, 2026, imposed a monetary penalty of ₹3.90 lakh (Rupees Three lakh ninety thousand only) on Utsav Securities Limited (the company) for non-compliance with certain provisions of the directions issued by RBI on ‘Governance’ and ‘Submission of data to Credit Information Companies (CICs)’. 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 and section 25(1)(iii) read with section 23(4) of Credit Information Companies (Regulation) Act, 2005.
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, RBI found that the following charges against the company were sustained, warranting imposition of monetary penalty:
i. The Key Management Personnel (KMP) of the company held office (including directorship) in other NBFCs-Middle Layer; and ii. The company failed to submit credit information of certain loan accounts to the CICs.
This 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: 2026-2027/839 Chief General Manager ᮧेस ᮧकाशनी PRESS RELEASE
भारतीय ᳯरज़वर् बᱹक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, कᱶᮤीय कायार्लय, शहीद भगत ᳲसंह मागर्, फोटर्, मुंबई - 400 001 Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
Source details
- Source
- Reserve Bank of India
- Type
- press-release
- Published by source
- 07 Aug 2026
- Document number
- 2026-2027/839
- Issuing division
- Department of Communication
- Coverage area
- banking