The Reserve Bank of India has fined four non-banking financial companies (NBFCs) amounting to an aggregate of Rs 76.6 lakh, for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'.

The central bank slapped a penalty of Rs 40 lakh on Fairassets Technologies India while Rs 10 lakh each was imposed on Bridge Fintech Solutions and Rang De P2P Financial Services

RBI also said the penalty of Rs 16.6 lakh was imposed on Visionary Financepeer.

In each case, the central bank said the penalties are based on deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.