RBI fined Muthoot Fincorp, which is the reason behind action

RBI imposed a fine on Muthoot Fincorp, which is the reason behind the action last updated: September 26, 2025, 23:10 IST RBI Muthoot Fincorp Ltd., but because the internal ombudsman rules were not followed, a fine of Rs 2.7 lakh was imposed to protect the interests of customers. The company was fined about Rs 3 Lakh. New -delhi. Reserve Bank of India (RBI) Muthoot Fincorp Ltd. 9Muthoot Fincorp Ltd.) Finished a fine of Rs 2.7 Lakh for not following the rules associated with the internal ‘Ombudsman’. This action was taken after a statutory inspection of the financial status of the company until 31 March 2024. RBI said that it was found in inspection that Muthoot Fincorp Ltd. did not make the necessary arrangements in the internal rosy system. The central bank issued a notice to the company asking why it does not follow the RBI rules and should not be fined. After studying the answer to the notice, additional information and the oral statement given during the individual hearing, the RBI decided that the allegations were correct and that it was necessary to be fined. The central bank said Muthoot Fincorp Ltd. A failure was to set up such a system, including the company’s own complaint division completely or partially dismissed, then the complaint would automatically go to the internal ‘Ombudsman’ for further investigation. This step is needed to ensure proper and transparent correction of client complaints. The RBI made clear that this fine was imposed only as a result of a decline in the following rules and that it would have no effect on any customer transaction or validity of agreement. The central bank has asked all the financial institutions to restore internal grievances and obey the rules associated with Umbudsman, so that clients’ interests are safe. About the author Jai Thakur Jai Thakur has been associated with the world of news since 2018. Since 2022, News18Hindi has been working as a senior sub -editor and is part of the business team. There is interest in news related to business, especially the stock market. Apart from this, I have been associated with the World of News since the Jai Thakur 2018. Since 2022, News18Hindi has been working as a senior sub -editor and is part of the business team. There is interest in news related to business, especially the stock market. Also give … Read more here to add News18 as your favorite news source on Google. Location: New -delhi, Delhi first published: 26 September 2025, 23:10 IST Homebusiness RBI imposed a fine on Muthoot Fincorp, which is the reason behind action