RBI imposes Rs 5 lakh penalty on Nissan Renault Financial Services India
Mumbai: The Reserve Bank of India has imposed a penalty of Rs 5 lakh on Chennai-based Nissan Renault Financial Services India Private Limited for non-compliance with the central bank's directions.
In a statement on Wednesday, RBI said the penalty has been imposed for non-compliance with its directions contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 on Fair Practices Code for applicable NBFCs.
The statutory inspection of Nissan Renault Financial Services India with reference to its financial position as of March 31, 2019, revealed, inter alia, non-compliance with the RBI directions.
The apex bank said a notice was issued to the company advising it to show cause as to why penalty should not be imposed for failure to comply with the directions issued by it.
"After considering the company's reply to the notice and examination of additional documents provided by the company, RBI concluded that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty," it said.
According to the central bank, the action has been taken due to deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers.
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Shehbaz Sharif says ceasefire extends beyond Iran, including “Lebanon and elsewhere”
Islamabad: Pakistan’s Prime Minister Shehbaz Sharif has said the ceasefire agreement between Iran, the United States and their allies extends beyond the immediate conflict and includes “Lebanon and elsewhere,” adding that it is effective immediately.
In a social media post, Sharif said, “I warmly welcome the sagacious gesture extend deepest gratitude to the leadership of both the countries and invite their delegations to Islamabad on Friday, 10th April 2026, to further negotiate for a conclusive agreement to settle all disputes.”
He said both sides had shown “remarkable wisdom and understanding” and remained constructively engaged in efforts aimed at peace and stability during the high-stakes mediation process.
“We earnestly hope that the ‘Islamabad Talks’ succeed in achieving sustainable peace and wish to share more good news in coming days,” Sharif added.
With the greatest humility, I am pleased to announce that the Islamic Republic of Iran and the United States of America, along with their allies, have agreed to an immediate ceasefire everywhere including Lebanon and elsewhere, EFFECTIVE IMMEDIATELY.
— Shehbaz Sharif (@CMShehbaz) April 7, 2026
I warmly welcome the…
