Document title: RBI imposes monetary penalty on Sammaan Finserve Limited
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/1044
Date: 04 September 2026
Banking and Credit
The RBI conducted a statutory inspection of Sammaan Finserve Limited, referencing the company’s financial position as on 31 March 2025. The inspection identified non‑compliance with RBI directions on “Early Recognition of Stress and Reporting to Central Repository of Information on Large Credits (CRILC)”. Specifically, the company failed to report credit information of its borrower to the CRILC, constituting a breach of the reporting requirement.
Regulatory and Policy Measures
Pursuant to powers conferred under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934, the RBI issued a monetary penalty of ₹4.20 lakh (Rupees Four Lakh Twenty Thousand only) to Sammaan Finserve Limited. The penalty followed a notice requiring the company to show cause why the penalty should not be imposed, consideration of the company’s written reply, and oral submissions made during a personal hearing. RBI clarified that the penalty is imposed without prejudice to any other action that may be initiated against the company and does not comment on the validity of any transaction or agreement entered into with its customers.
The enforcement action underscores RBI’s commitment to ensuring compliance with credit reporting obligations and its readiness to impose monetary penalties for violations. This content may not be financially relevant.