Money & Banking

NHB imposes penalty of ₹1.5 lakh plus GST on HDFC

Our Bureau Mumbai | Updated on September 30, 2020 Published on September 30, 2020

Mortgage lender Housing Development Finance Corporation (HDFC) Ltd on Wednesday said that NHB has levied a monetary penalty of ₹1.5 lakh and GST on it for non-compliance with two provisions of the Housing Finance Companies Directions.

“…NHB has vide its letter dated September 29, 2020 imposed a monetary penalty of ₹1,50,000 plus GST on the Corporation for non-compliance with two provisions of the Housing Finance Companies (NHB) Directions, 2010 during the financial year 2018-19,” it said in a regulatory filing.

The penalty has been imposed in exercise of powers vested under Section 52(A) of the National Housing Bank Act, 1987, it added.

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Published on September 30, 2020
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