Disclosure of penalty levied by National Housing Bank on contravention / default of regulatory requirements as required under Policy Circular NHB (ND)/DRS/Policy Circular No. 93/2018-19, dated February 15, 2019.
In terms of paragraph 32(1)(i) of the Housing Finance Companies Directions, 2010, no Housing Finance Company shall lend to any single borrower exceeding fifteen percent of its owned fund. In this regard, during the year 2018-19, NHB vide its letter NHB (ND)/HFC/DRS/Sup./A-2718/2019 dated 25th March, 2019 had imposed a penalty of Rs.15000 and GST thereon for non-compliance of credit concentration norm as required under above said paragraph and the same was paid subsequent to the financial year ended 31st March, 2019.