Question

What is the penalty imposed on NBFCs (e.g., Navi,

Q: Answer-What is the penalty imposed on NBFCs (e.g., Navi, Asirvad, Arohan) in October 2024?

Explanation RBI imposed financial penalties on several NBFCs, including Navi, Asirvad, and Arohan, in October 2024 for non-compliance with regulatory norms, though the penalty amounts varied for each entity.

Asirvad, Arohan) in October 2024?

A ₹5 Crore

B ₹7 Crore

C ₹10 Crore

D Financial penalties were imposed; specific amounts vary per entity.

E No penalty was imposed

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What is the penalty imposed on NBFCs (e.g., Navi,

Solution