RBI imposes monetary penalty of Rs. 5 lakhs on LIC Housing Finance Ltd

The Reserve Bank of India (RBI) has, by an order dated October 21, 2022, imposed monetary penalty of Rs. 5.00 lakh (Rupees Five lakh only) on LIC Housing Finance Limited, Mumbai (the company) for non-compliance with certain provisions of "The Housing Finance Companies (NHB) Directions, 2010, regarding statutory inspection of the Company conducted by NHB with reference to financial position as on March 31, 2020 inter alia the Company's failure to create floating charge in favor of its deposits and portion ofthe assets invested by it in terms of section 29B of the NHB Act, 1987.

Shares of LIC Housing Finance Limited was last trading in BSE at Rs. 404.90 as compared to the previous close of Rs. 421.00. The total number of shares traded during the day was 155566 in over 3392 trades.

The stock hit an intraday high of Rs. 423.30 and intraday low of 400.50. The net turnover during the day was Rs. 63154072.00.

Source : Equity Bulls

Keywords

LICHousingFinance INE115A01026 RBI Penalty NonCompliance