Mahindra & Mahindra Financial Services Limited has informed the Exchange about - Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Mahindra & Mahindra Financial Services Limited has received an order from the Reserve Bank of India imposing a monetary penalty of Rs. 11.50 Lakh on the company. The penalty follows RBI's Annual Inspection for FY ended 31st March 2025 and pertains to non-compliance with RBI directions on the Fair Practices Code and Internal Ombudsman framework. Two specific lapses were flagged: the company levied revised foreclosure charges on certain borrower accounts without a suitable condition in loan agreements, and it failed to escalate certain rejected complaints to the Internal Ombudsman within the prescribed timeline and did not communicate final decisions to complainants on time. The company has stated it has undertaken corrective actions and strengthened internal controls.
The penalty amount of Rs. 11.50 Lakh is immaterial relative to the company's size and operations, and there is no impact on business activities, so this is unlikely to materially affect shareholders or the stock price. It is largely a compliance-cleansing event with no operational disruption.