What changed

RBI's order dated March 27, 2026 found Exclusive Capital Limited in violation of three specific regulatory requirements: (1) breaching the permissible leverage ratio limit, (2) failing to submit supervisory returns to RBI according to prescribed frequency and timelines, and (3) failing to furnish its balance sheet within the stipulated period. The total penalty amounts to ₹10.30 lakh (₹1,030,000).

Financial institutions regulated by RBI should review their compliance systems for leverage ratio monitoring, supervisory return filing schedules, and balance sheet submission procedures. The enforcement action demonstrates RBI's continued focus on offsite surveillance and regulatory reporting compliance. Companies should ensure timely submission of all required regulatory filings and maintain leverage ratios within permissible limits to avoid similar penalties.

What to do next

Review and strengthen leverage ratio monitoring systems to ensure compliance with RBI limits
Verify all supervisory returns are filed at prescribed frequency and within stipulated timelines
Ensure annual balance sheets are submitted to RBI within required deadlines

Penalties

₹10.30 lakh (Rupees Ten Lakh Thirty Thousand) monetary penalty

Source document (simplified)

Press Releases

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| Date : Apr 01, 2026 | |
| RBI imposes monetary penalty on Exclusive Capital Limited | |
| | The Reserve Bank of India (RBI) has, by an order dated March 27, 2026, imposed a monetary penalty of ₹10.30 lakh (Rupees Ten Lakh Thirty Thousand only) on Exclusive Capital Limited (the company) for non-compliance with certain directions issued by RBI on 'Leverage Ratio', 'Filing of Supervisory returns' and 'Submission of the balance sheet'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The offsite analysis and related correspondence between RBI and the company revealed non-compliance with certain RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company's reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty:

The company had:

1. breached the permissible limit of leverage ratio;
2. failed to submit certain Supervisory returns to RBI as per prescribed frequency and within the stipulated timelines; and
3. failed to furnish its balance sheet to RBI within the stipulated period.

This action is based on 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. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

(Brij Raj)
Chief General Manager

Press Release: 2026-2027/5 | | The Reserve Bank of India (RBI) has, by an order dated March 27, 2026, imposed a monetary penalty of ₹10.30 lakh (Rupees Ten Lakh Thirty Thousand only) on Exclusive Capital Limited (the company) for non-compliance with certain directions issued by RBI on 'Leverage Ratio', 'Filing of Supervisory returns' and 'Submission of the balance sheet'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The offsite analysis and related correspondence between RBI and the company revealed non-compliance with certain RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company's reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty:

The company had:

breached the permissible limit of leverage ratio;
failed to submit certain Supervisory returns to RBI as per prescribed frequency and within the stipulated timelines; and
failed to furnish its balance sheet to RBI within the stipulated period. This action is based on 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. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

(Brij Raj)
Chief General Manager

Press Release: 2026-2027/5 |
| The Reserve Bank of India (RBI) has, by an order dated March 27, 2026, imposed a monetary penalty of ₹10.30 lakh (Rupees Ten Lakh Thirty Thousand only) on Exclusive Capital Limited (the company) for non-compliance with certain directions issued by RBI on 'Leverage Ratio', 'Filing of Supervisory returns' and 'Submission of the balance sheet'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The offsite analysis and related correspondence between RBI and the company revealed non-compliance with certain RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company's reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty:

The company had:

breached the permissible limit of leverage ratio;
failed to submit certain Supervisory returns to RBI as per prescribed frequency and within the stipulated timelines; and
failed to furnish its balance sheet to RBI within the stipulated period. This action is based on 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. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

(Brij Raj)
Chief General Manager

Press Release: 2026-2027/5 | |