RBI imposes Rs 20,000 penalty on Paul Merchants for FEMA violations at two branches
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Paul Merchants received two orders from RBI on October 1, 2026, imposing a total penalty of Rs 20,000 (Rs 10,000 each) for FEMA violations at its Cochin and Tanda branches. The Cochin branch violated money changing rules by accepting payment from a family member's account. The Tanda branch did not obtain a customer signature on Form A2 for a remittance transaction, which was later corrected. The company says there is no material financial or operational impact beyond the penalty amount.
Very minor. Total penalty is just Rs 20,000, no operational impact flagged. Unlikely to move the share price.