Tag Archives: violation of general guidelines

RBI fines Bajaj Finance for use of coercive means of recovery

RBI concluded that the charge of non-compliance with the instructions was substantiated and justified the imposition of a monetary penalty. The Reserve Bank of India (RBI) on Tuesday imposed a monetary sanction of Rs 2.50 million on Bajaj Finance for using coercive recovery methods from its borrowers and for violating …

Read More »