RBI imposes Rs 5 lakh penalty on HDFC

- Advertisement -

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5 lakh on mortgage financier HDFC Ltd for failing to transfer matured deposits of certain depositors to designated bank accounts of such depositors during the period 2019-20.

In a statement, the central bank said, the housing finance company was penalised because it was found to be non-compliant with certain provisions of the Housing Finance Companies (NHB) Directions, 2010 issued by the National Housing Bank (NHB).

Reacting to the penalty imposed by the central bank, HDFC Ltd said, it will take necessary steps to comply with the directions.

- Advertisement -

More News...

Recomended

Delhi High Court Slaps Rs 2 Lakh Fine on Former Bharat Pe MD Ashneer Grover Over Derogatory Posts

Delhi High Court Slaps Rs 2 Lakh Fine on Former Bharat Pe MD Ashneer Grover Over Derogatory Posts

KPMG Imposes Pay Freeze on 12,000 UK Employees Amid Economic Downturn

KPMG Imposes Pay Freeze on 12,000 UK Employees Amid Economic Downturn

Odisha Doctor Arrested for Taking Bribe to Perform Surgery

Odisha Doctor Arrested for Taking Bribe to Perform Surgery

Bank Employees may receive Salary Hike and Five Day Work Week by December

Bank Employees May Receive Salary Hike and Five Day Work Week by December

FIR filed against Bank of Baroda Manager for not providing loan to SHG

FIR filed against Bank of Baroda Manager for not providing loan to SHG

Punjab National Bank won Gold Medal at IITF 2023

Punjab National Bank won Gold Medal at IITF 2023