Reserve Bank of India (RBI) has, by an order dated January 02, 2026, imposed a monetary penalty of Rs 10,000 on Shaha Finlease Private Limited, Mumbai, for non-compliance with RBI directions on the ‘Fair Practices Code’.

The penalty has been imposed under the powers conferred on RBI by Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

RBI conducted an onsite scrutiny of the company and, based on supervisory findings, issued a show-cause notice asking why a penalty should not be levied for the observed non-compliance. After considering the company’s written and oral submissions, RBI found that the company had failed to put in place a system for periodic review of compliance with the Fair Practices Code, which warranted the imposition of the penalty.

RBI clarified that the action is based on regulatory compliance deficiencies and does not comment on the validity of any transaction or agreement entered into by the company with its customers. The penalty is without prejudice to any other action that may be initiated by RBI against the company.