RBI penalizes BNP Paribas and 4 other banking enterprises

The Reserve Bank of India fined BNP Paribas, Hewlett Packard Financial Services, SMFG India Credit Company, and Muthoot Vehicle & Asset Finance for regulatory non-compliance. Fines ranged from Rs 7.9 lakh to Rs 31.8 lakh for issues such as interest rate disclosures and IT governance. The penalties focus on statutory deficiencies rather than transaction validity.