RBI Imposes ₹5.40 Lakh Penalty on Infinity Fincorp

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5.40 lakh on Infinity Fincorp Solutions Private Limited. The penalty is for non-compliance with certain provisions of the 'Reserve Bank of India (Know Your Customer (KYC)) Directions' and the directions issued by RBI on 'Fair Practice Code'. This penalty affects Infinity Fincorp Solutions Private Limited and highlights the importance of compliance with regulatory requirements. The RBI has been emphasizing the need for companies to adhere to its guidelines to ensure fair practices and prevent fraudulent activities. The company will have to pay the imposed penalty as per the RBI's directive.