The Reserve Bank of India has imposed monetary penalties on five financial entities, including TransUnion CIBIL, CRIF High Mark Credit Information Services, Equifax Credit Information Services, Sammaan Finserve and Hinduja Leyland Finance, for failing to comply with certain regulatory requirements.
The penalties range from ₹1.19 lakh to ₹26.82 lakh and relate to issues including delayed compensation to eligible complainants, reporting failures and non-compliance with rules governing microfinance and securitisation activities.
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Credit Bureaus Penalised Over Delayed Compensation
The RBI imposed a penalty of ₹26,82,800 on TransUnion CIBIL, ₹6,89,600 on CRIF High Mark Credit Information Services and ₹1,19,400 on Equifax Credit Information Services.
According to the central bank, the three credit information companies failed to credit compensation amounts to the bank accounts of certain eligible complainants within the prescribed period.
The penalties follow regulatory scrutiny of compliance with requirements governing the handling of eligible complaints and compensation by credit information companies.
Sammaan Finserve Fined Over CRILC Reporting
The RBI also imposed a monetary penalty of ₹4.20 lakh on Sammaan Finserve.
The company was penalised for failing to report credit information relating to one of its borrowers to the Central Repository of Information on Large Credits, or CRILC.
CRILC is the reporting system referred to by the RBI in its notification concerning the company’s regulatory lapse.
Hinduja Leyland Finance Faces ₹6.20 Lakh Penalty
Hinduja Leyland Finance was fined ₹6.20 lakh for regulatory violations identified by the central bank.
According to the RBI, the company had failed to put in place a Board-approved policy governing the pricing of microfinance loans.
The company was also found to have undertaken activities in the nature of “Synthetic Securitisation”, the RBI said.
The penalties against the five entities were announced by the central bank as part of its regulatory action for non-compliance with applicable requirements.
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About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
