Tax & Penalty15 Aug 2026, 03:30 pm
Fusion Finance fined ₹2.70 Lakh by RBI for KYC lapses
AI Summary
Fusion Finance Ltd has received an order from the Reserve Bank of India (RBI) imposing a monetary penalty of ₹2.70 lakh. The penalty is for non-compliance with the RBI Know Your Customer (KYC) Directions, specifically regarding the system for periodic review of risk categorisation of customer accounts. The violation pertains to the RBI inspection for FY 2024-25. The RBI has noted that the company has undertaken corrective action in May 2026 by implementing a framework for periodic review. Fusion Finance states that the penalty does not have any material impact on its financial position or operations. The company has also made the detailed disclosure available on its website.
Key Highlights
- RBI imposes ₹2.70 lakh penalty on Fusion Finance.
- Penalty relates to KYC norms on customer risk categorisation.
- Company has taken corrective action; no material financial impact.
- Disclosure made as per SEBI LODR Regulations.
Price Impact
More from FUSION