RBI Penalises LIC Housing Finance, IDFC First Bank Over Violation
NDTV
The penalty on IDFC First Bank has been imposed for non-compliance with certain directions on 'Loans and Advances - Statutory and Other Restrictions', the central bank said in a statement.
The Reserve Bank on Friday said it has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms.
The penalty on IDFC First Bank has been imposed for non-compliance with certain directions on 'Loans and Advances - Statutory and Other Restrictions', the central bank said in a statement.
In another statement, it said the penalty on LIC Housing Finance has been levied for non-compliance with certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021' issued by RBI.
