NHB imposes Rs 4.75 lakh fine on HDFC for technical non-compliance

The National Housing Bank (NHB) has imposed a monetary penalty of Rs 4,75,000 on Housing Development Finance Corporation Limited (HDFC) for a technical non-compliance with NHB circulars from November 2013 and July 2016.

"This is to inform you that NHB has on July 5, 2021, (Monday) imposed a monetary penalty of Rs 4,75,000 plus GST on the Corporation for, technical non-compliance with NHB circulars," HDFC stated in a regulatory submitting on Tuesday.

The Corporation stated that it will be taking the necessary steps to comply with the said letter.

As of Tuesday, HDFC's shared closed at Rs 2,493.30 apiece on the BSE.

(Edited by Pronoy Basu)

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