Topic
Non-banking financial companies lend and invest like banks but cannot accept demand deposits. They are registered with and regulated by the RBI.
21 storiesLatest 22 Oct 2026, 11:39 IST
Courts/
Supreme Court in 2026 INSC 943 lets a bank that acquires an NBFC loan use SARFAESI. Which borrower defences survive: notice defects, Section 31, 45-day limits and deposits.
Enforcement
The Reserve Bank of India has imposed a Rupees 10 lakh penalty on Hero Fincorp for non-compliance with its Fair Practices Code directions, finding the NBFC collected excess interest from certain loan accounts.
Courts
RBI caps recovery-agent conduct: no calls before 8:00 a.m. or after 7:00 p.m., three documents at the door, and the lender answers for the agency. Plus the escalation ladder and the 2026 HC ruling.
Courts
RBI's Fair Practices Code makes disclosure the lender's duty: a sanction letter with the annualised rate, the full loan agreement, a published rate-gradation policy. What to demand, and when.
Enforcement
The Reserve Bank of India imposed monetary penalties on two NBFCs, Shri Ram Finance Corporation and Progfin, for KYC and governance compliance lapses found during supervision.
Courts
The RBI Fair Practices Code (RBI/2015-16/16, 1 July 2015) forces NBFCs to furnish the loan agreement and bars harassment in recovery. Here are the rules, SARFAESI timelines and borrower defences.
Courts
The RBI Fair Practices Code (Master Circular 1 July 2015) bars NBFC odd-hour harassment, hidden rates and foreclosure penalties on floating-rate loans. Your enforcement playbook.
Enforcement
The ED attached Rs 72.32 crore in the Kudos Finance instant-loan-app case and the RBI cancelled the NBFC's registration; the Bombay High Court declined to interfere on 5 May 2026.
Enforcement
The Reserve Bank of India directed all banks and NBFCs to review their gold loan practices within three months, after examinations found irregularities in sourcing, valuation, LTV monitoring and auctions.
Enforcement
The Reserve Bank of India directed ECL Finance and Edelweiss ARC to halt structured transactions by order dated 29 May 2024, citing what it called evergreening of stressed loans; the curbs were lifted in December 2024.
Enforcement
The Reserve Bank of India directed JM Financial Products to stop financing against shares, debentures and IPOs by order dated 5 March 2024, citing serious deficiencies; the curb was lifted in October 2024.
Enforcement
By order dated 4 March 2024 the Reserve Bank of India directed IIFL Finance to stop new gold-loan business, citing deviations in assaying, LTV breaches and cash limits; it lifted the curb in September 2024.
Enforcement
The Reserve Bank of India directed Mahindra & Mahindra Financial Services to halt recovery and repossession through outsourcing agents in September 2022; the curb was lifted in January 2023.
Enforcement
The Reserve Bank of India cancelled the NBFC registration of X10 Financial Services, finding it outsourced credit appraisal, interest-rate setting and KYC to a service provider.
Enforcement
The Reserve Bank of India cancelled the NBFC registration of Zavron Finance, finding it outsourced core lending decisions to app partners and breached the Fair Practices Code.
Enforcement
The Reserve Bank of India ordered four NBFCs, including Navi Finserv and Asirvad, to halt new lending from 21 October 2024 over pricing it found excessive; all four were cleared by 8 January 2025.
Enforcement
By order dated 17 October 2024 RBI restricted Asirvad, Arohan, DMI Finance and Navi Finserv from fresh lending over supervisory pricing concerns; RBI lifted the curbs within about three months.
Enforcement
The Reserve Bank of India imposed penalties totalling about Rs 23.60 lakh on six regulated entities, including Muthoot Finance, for KYC, exposure and asset-classification lapses found on inspection.
Courts
The RBI Fair Practices Code (Master Circular RBI/2015-16/16, 1 July 2015) bars NBFCs from odd-hour calls and muscle-power recovery. Your rights, defences, DRT remedy and OTS route.
Markets
RBI's February 2026 statement proposed harmonised gold-loan norms across all regulated entities, eased branch expansion for large gold-loan NBFCs, and flagged a review of the Rs 1 lakh UPI P2M limit.
RBI
The RBI has issued fresh compliance guidelines for digital lending platforms, mandating transparent fee disclosure, cooling-off periods, and stricter data privacy requirements.
