Reserve Bank of India (RBI) imposes ₹11.50 lakh penalty on Mahindra & Mahindra Financial Services Limited.

Exam-focused facts from the 4 March 2026 current affairs briefing.

Key facts

The Reserve Bank of India (RBI) imposed a monetary penalty of ₹11.50 lakh on Mahindra & Mahindra Financial Services Limited on 27 February 2026.
The penalty was for non-compliance with RBI directions on ‘Fair Practices Code’ and ‘Internal Ombudsman for Regulated Entities’.
The statutory inspection of the company was conducted by RBI with reference to its financial position as on 31 March 2025.
The company levied revised foreclosure charges on certain borrower accounts without incorporating suitable conditions in loan agreements.
The company failed to escalate certain complaints to its Internal Ombudsman within the prescribed time and did not communicate final decisions to complainants within the prescribed time in certain cases.