RBI Fines Sammaan Finserve ₹4.20 Lakh for Failure to Report Borrower Information to CRILC
The Reserve Bank of India has imposed a monetary penalty of ₹4.20 lakh on Sammaan Finserve Limited for non-compliance with directions governing the reporting of stressed-credit information to the Central Repository of Information on Large Credits (CRILC).
The penalty was announced by RBI on September 4, 2026 through Press Release 2026-2027/1044. The underlying penalty order is dated August 31, 2026.
What RBI found
RBI said the company failed to report credit information relating to one of its borrowers to CRILC. The contravention was identified during the supervisory process linked to the company's financial position as on March 31, 2025.
The regulator issued a notice asking the company to show cause why a penalty should not be imposed. After considering the company's written reply and oral submissions made during a personal hearing, RBI concluded that the charge relating to failure to report the borrower's credit information was sustained and warranted a monetary penalty.
Legal basis of the penalty
RBI imposed the penalty under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934. The cited directions concern Early Recognition of Stress and Reporting to Central Repository of Information on Large Credits (CRILC).
The order is a regulatory-compliance action. RBI specifically clarified that the penalty is based on deficiencies in statutory and regulatory compliance and is not intended to pronounce on the validity of any transaction or agreement entered into by the company with its customers. RBI also said the action is without prejudice to any other action it may initiate against the company.
Why the case matters for finance and compliance teams
For NBFCs and other regulated lenders, CRILC reporting is not merely an operational data exercise. It forms part of the supervisory information architecture used by RBI to assess credit exposures and signs of stress. A failure involving even a specific borrower can therefore become an enforceable compliance issue if the required information is not captured and transmitted correctly.
The Sammaan Finserve order is useful for chief financial officers, compliance officers, internal auditors and statutory-audit teams because it highlights the need for controls that connect loan-system data to regulatory returns. Institutions should be able to demonstrate who owns the reporting process, how source data is reconciled, how exceptions are identified, and how evidence of submission is retained.
Controls that regulated lenders should review
- Borrower-level completeness: confirm that all accounts falling within the institution's applicable reporting population are mapped into the regulatory-reporting workflow.
- Source-to-report reconciliation: reconcile information in core lending systems and regulatory submissions, with documented investigation of mismatches.
- Submission evidence: retain system acknowledgements, exception reports and internal sign-offs so that reporting can be demonstrated during supervisory review.
- Ownership and escalation: assign clear responsibility for fixing rejected, omitted or inconsistent data and escalating unresolved issues before a reporting deadline.
- Audit trail: ensure internal audit and compliance testing can trace reported values back to source records and policy controls.
The monetary amount in this case is modest, but the supervisory signal is broader: borrower-level regulatory data must be complete and defensible. Finance and compliance teams at lending institutions should use the RBI order as a prompt to test whether their CRILC reporting controls can detect an omitted borrower before the issue reaches a supervisory inspection.
Official source: View the official source document
Key takeaway
RBI has imposed a ₹4.20 lakh penalty on Sammaan Finserve Limited after finding that the company failed to report credit information of a borrower to CRILC.
