3 Indian housing finance firms fined for regulatory non-compliance: Godrej, Aadhar and HUDCO.

The Reserve Bank of India (RBI) has fined three housing finance companies for regulatory non-compliance. Godrej Housing Finance and Aadhar Housing Finance each received fines of ₹5 lakh, while Housing and Urban Development Corporation (HUDCO) was fined ₹3.5 lakh. The penalties, imposed under Section 52A of the National Housing Bank Act, address failures such as inadequate loan valuation reports and improper interest charging practices.

September 06, 2024
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