RBI imposes monetary penalty on three NBFCs for non-compliance with directives

The Reserve Bank of India has imposed fines on three non-banking financial companies for failing to comply with regulatory directives. Hewlett Packard Financial Services, SMFG India Credit Company, and Muthoot Vehicle & Asset Finance were penalized amounts ranging from Rs 7,90,000 to Rs 23,10,000 for violations such as KYC guidelines and IT security measures.