RBI Imposes a Monetary Penalty of Rs 49.70 Lakh on ‘LIC Housing Finance Limited’ for Non-compliance With RBI Norms

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By Taxmann
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Last Updated on 8 April, 2024

LIC Housing Finance Limited

Press Release No. 2024-2025/56; Dated: 05.04.2024

The RBI has imposed a monetary penalty of Rs 49.70 lakh on ‘LIC Housing Finance Limited’ for violating certain norms. The penalty has been imposed for non-compliance with certain provisions of the Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 issued by RBI.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

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