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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

HOUSING FINANCE COMPANIES: IMPOSED PENALTY

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person HOUSING DEVELOPMENT FINANCE CORP.LTD.
  DID NOT TRANSFER MATURED DEPOSITS OF CERTAIN DEPOSITORS TO DESIGNATED BANK ACCOUNTS   IMPOSED PENALTY RS.5,00,000

13-MAR-2023 		 
2
History of entity/person LIC HOUSING FINANCE LTD.
  DID NOT MAKE DISCLOSURE TO RETAIL BORROWERS, GRADATION OF RISK AND RATIONALE FOR CHARGING DIFFERENT INTEREST RATES TO DIFFERENT CATEGORIES OF BORROWERS IN LOAN APPLICATION FORM/SANCTION LETTER

CHARGED PRE-PAYMENT PENALTY IN HOUSING LOANS ON (A) FLOATING RATE BASIS WHICH WERE PRE-CLOSED FROM ANY SOURCEAND (B) FIXED RATE BASIS WHICH WERE PRE-CLOSED FROM BORROWER’S OWN SOURCES   		IMPOSED PENALTY RS.49,70,000

27-MAR-2024 		 
3
History of entity/person LIC HOUSING FINANCE LTD.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON CREATION OF FLOATING CHARGES IN FAVOUR OF ITS DEPOSITORS ON A PORTION OF ASSETS INVESTED BY IT IN TERMS OF SECTION 29 OF NHB ACT, 1987

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON REGISTRATION OF CHARGE WITH REGISTRAR OF COMPANIES   		IMPOSED PENALTY RS.5,00,000

21-OCT-2022 		 
4
History of entity/person NIDO HOME FINANCE LTD.
  DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN SHAREHOLDING DUE TO PROGRESSIVE INCREASES OVER TIME, RESULTING IN ACQUISITION OF SHAREHOLDING BEYOND PERMITTED LIMIT   IMPOSED PENALTY RS.1,55,000

13-SEP-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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