Question
The Reserve Bank of India (RBI) imposed a monetary
penalty on Poonawalla Fincorp Limited for which reason?Solution
The RBI imposed a penalty of ₹10 lakh on Poonawalla Fincorp Limited, Pune, due to non-compliance with the 'Fair Practices Code for NBFCs,' specifically for charging interest on loans from dates prior to disbursal, which was against the terms communicated to customers.
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