RBI Imposes ₹3.10 Lakh Penalty on Mannakrishna Investments
Moneylife Digital Team 01 December 2025
Reserve Bank of India (RBI) has imposed a penalty of ₹3.10 lakh on Kolkata-based Mannakrishna Investments Pvt Ltd, a non-banking financial company (NBFC), for non-compliance with the directions issued by the banking regulator.
 
Mannakrishna Investments was found to have violated certain provisions of the RBI’s Master Direction on NBFC Scale-Based Regulation, 2023, specifically relating to governance issues.
 
RBI's statutory inspection observed that Mannakrishna Investments had appointed a director without obtaining prior written permission from the regulator. This resulted in a change of management, as more than 30% of its directors, excluding independent directors, were replaced.
 
After considering the reply and oral submissions of the NBFC during the personal hearing, the RBI states that it has concluded that the non-compliance with its directions was substantiated and warranted the imposition of a monetary penalty.
 
RBI says the penalty imposed on Mannakrishna Investments is based on deficiencies in regulatory compliance and is not intended to pronounce on the validity of any transaction or agreement entered by the banks with their customers.
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