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Brief
On November 28, 2024, the Reserve Bank of India issued an update regarding RBI imposes monetary penalty on Maxvalue Credits and Investments Limited, Thrissur, Kerala. The RBI imposed a monetary penalty of ₹ 4.50 lakh on the company for non-compliance with certain directions, including failing to take prior written permission for shareholding changes, redeeming subordinated debts without consent, accessing public deposits, and failing to make disclosures in Annual Financial Statements.
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