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RBI levies penalty of Rs 5.80 lakh on Shriram Finance
Feb-17-2025

The Reserve Bank of India (RBI) has levied a penalty of Rs 5.80 lakh on Shriram Finance for non-compliance with certain provisions, including Know Your Customer (KYC) guidelines and directions on 'Data Format for Furnishing of Credit Information to Credit Information Companies'.

The penalty is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the lender with their customers. 

Shriram Finance (Formerly Shriram Transport Finance Company) is one of the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets.

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