30.1 C
Delhi
Thursday, September 18, 2025

RBI penalty on LIC Housing Finance

Date:

Share post:

Donate-GC-Razorpay

Mumbai: The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 lakh on the LIC Housing Finance Ltd, Mumbai, for non-compliance with certain provisions of The Housing Finance Companies (NHB) Directions, 2010.

This follows a statutory inspection of the company conducted by NHB with reference to financial position as on March 31, 2020. It followed the company’s failure to create floating charge in favour of its deposits and portion of the assets invested by it under Section 29B of the NHB Act, 1987.

The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 52A read with clause (aa) of sub-section (3) of section 49 of the National Housing Bank Act, 1987 (NHB Act).

Related articles

The Fractured Geopolitics of the Middle East: How Internal Divisions and External Interventions Are Degrading the Region

Introduction: A Region at War with ItselfThe Middle East and West Asia present a paradox of immense...

America’s $35 Trillion Debt: Crypto Cloud Scam to Reset the Dollar

In the corridors of geopolitical strategy, there are whispers louder than any official announcement, whispers that reveal not...

The American Military in Bangladesh: Quiet Landings, Loud Questions

The quiet arrival of American boots on Bangladeshi soil has raised eyebrows not just in Dhaka but in...

Qatar’s Blood Money: How Doha Bankrolled Hamas and Fueled the October 7 Massacre

 Since 2012, Qatar has positioned itself as Gaza’s saviour while quietly acting as its executioner. The numbers are...