Northern Arc Capital Receives ₹6.20 Lakh RBI Penalty Over Complaint Disclosures

RBI imposed a ₹6.20 lakh penalty on Northern Arc for FY25 non-compliance, including reporting 938 customer complaints instead of 23,956 in financial statement notes and failing to auto-escalate 11,109 partly or wholly rejected complaints to the Internal Ombudsman. The company said corrective action has been taken.