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RBI fines Muthoot Vehicle and Asset Finance ₹2.70 lakh for KYC lapse

Source: Reserve Bank of India · Press Release prid 63178 · ~2 min read

RBI imposed a ₹2.70 lakh penalty on Muthoot Vehicle and Asset Finance for failing to review customer risk categorisation at least once every six months, violating KYC norms.

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Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63178 — summary by BankPulse (bankpulse.ai).
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