National Housing Bank (NHB) has levied a penalty of Rs 5,000 plus GST on Can Fin Homes on account of non-compliance with respect to the provisions of its Policy Circular No. 21. The Company is supposed to maintain SLR investments to the extent of 13% of its outstanding public deposits and create floating charge on the same. The Company has maintained SLR investment to the extent of 14.65%. However, there was a shortfall of 0.59% in the charge created. Hence, the Company has represented the matter before NHB.
Can Fin Homes is a Housing Finance Company. The company offers finance for construction of a house, loan for the purchase of a flat or house, finance for the acquisition of a plot and construction of a house on the same.
