Reserve Bank of India (RBI) has issued a show-cause notice prior to cancelling the licence of fraud-hit Sambandh Finserve Pvt Ltd. after its networth eroded below the regulatory minimum and financial situation worsened beyond redemption over the recent months. Sambandh is registered as an NBFC-MFI.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The Managing Director and CEO of Sambandh, Deepak Kindo, who was allegedly the main perpetrator of the fraud, has been arrested by Economic Offence Wing, Chennai. According to the RBI norms, NBFC is required to maintain minimum capital levels consisting of Tier-I and Tier-II capital, of not less than 15 per cent of their aggregate risk-weighted assets.
Important takeaways for all competitive exams:
On 16th October 2026, the Union government has recreated the Financial Services Institutions Bureau (FSIB),…
The private defence sector in India is currently designing technology in a bid to address…
ISRO successfully carried out a series of CM-SM separation tests of its upcoming Gaganyaan human…
The World Health Summit 2026 was held in Berlin, Germany, with the new funding pledges,…
On October 16th 2026, the Ministry of External Affairs (MEA) has appointed Sudhakar Dalela as…
India’s Assam Regiment has bagged a gold medal in Exercise Cambrian Patrol 2026, an international…