National Housing Bank imposes penalty of Rs 29.13 lakh on Can Fin Homes

National Housing Bank imposes penalty of Rs 29.13 lakh on Can Fin Homes

Jun 14, 2021 07:06 IST capital market

National Housing Bank (NHB) has imposed a penalty of Rs 29.13 lakh on Can Fin Homes.

NHB had observed that the Company had accepted individual deposits aggregating to Rs. 14,56,617/- from five small depositors for a period of less than 12 months, in contravention with provisions of Para 4 of the HFCs (NHB) Directions, 2010.

The Company had replied to NHB that five deposits aggregating to Rs.14,56,617/- (out of about 4000 deposits), were accepted in the year 2018-19 for a tenure of less than 12 months by three of its branches inadvertently. NHB has imposed a penalty of twice the amount of deposits collected, i.e., Rs.29,13,234/-

Powered by Capital Market - Live News

Related Story

Open Free Demat Account (Rs699)