News Details

( As on 04/11/2025 18:24)

RBI fines Viva Home Finance Ltd Rs 10,000 for regulatory non-compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 10,000 on Viva Home Finance Limited, Palghar, Maharashtra, for violating provisions under the Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021.

The action follows a statutory inspection by the National Housing Bank for the company’s financial position as on March 31, 2023 and March 31, 2024. RBI found that the company had appointed a Whole-time Director without obtaining prior written approval, which also resulted in over 30% change in its Board composition (excluding Independent Directors) — a breach of regulatory norms.

RBI clarified that the penalty pertains to compliance deficiencies and does not affect the validity of transactions with customers. The regulator may take further action if required.