Which of the following statements is/are correct

Solution

• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹25,000 on RAR Fincare Limited, Chennai for non-compliance with RBI's directions on change in management of Non-Banking Financial Companies (NBFCs). • The penalty was imposed due to the company's failure to obtain prior written permission from RBI before changing more than 30% of its directors, excluding independent directors. • In a separate case, RBI imposed a ₹1 lakh penalty on Durgapur Mahila Co-operative Bank Limited, Kolkata for violating RBI's investment regulations for Urban Co-operative Banks. • The violations included breaching prudential inter-bank counterparty and exposure limits. • Both penalties were imposed based on deficiencies in regulatory compliance and do not affect the validity of any transactions or agreements with customers. • These actions are without prejudice to any other actions RBI may take against the companies involved.